L&T Technology Services Joins Forces with Nasscom to Boost Gen AI Startups
L&T
Technology Services Limited (LTTS), a prominent global digital engineering and
R&D services company, has announced its collaboration with nasscom GenAI
Foundry initiative to stimulate the growth of Generative AI in India by providing comprehensive support to startups
operating in this field.
According to Nasscom, Gen AI startups in the
country have successfully raised over $475 million in funding from 2021 through
May 2023, signalling the sector's rapid expansion and potential. LTTS is poised
to nurture this growth by offering resources and expertise to a select group of
startups to bring their innovative concepts to fruition. Among the 26 startups
chosen, LTTS will engage with many of the startups through a continuous process
of engagement. The selected startups will be mentored, helped with product
development and innovation roadmaps. They will also be provided with Proof of
Concepts that align with the company’s technology and innovation trajectory.
LTTS will also host bootcamps and knowledge-sharing workshops to enhance their
domain expertise.
As a global frontrunner in Artificial Intelligence (AI) and digital engineering, LTTS possesses an
array of expertise in creating advanced AI solutions. Its portfolio includes
AiKno™ and Chest-rAi™. AiKno™ is an AI-driven platform that expedites the
deployment of AI models, facilitating enterprises to seamlessly incorporate AI
into their operations. It boasts pre-built AI models and a user-friendly
interface that simplifies AI model management. Chest-rAi™ is a ground-breaking AI tool tailored for
radiologists. It employs deep learning algorithms to scrutinize chest X-rays
and detect abnormalities, thereby aiding in quicker and more precise diagnoses.
These offerings exemplify LTTS' dedication to harnessing AI's power for the
benefit of its clientele and the wider ecosystem.
Ankit
Bose, Head of AI, nasscom, on the partnership, said, “As we progress further into the
digital age, nasscom remains committed to fostering and nurturing the AI
startup ecosystem in India. We have faith in these startups' capacity to
innovate and transform the AI industry, not just domestically, but on an
international scale as well. Our collaboration with L&T Technology Services
is a significant stride towards that vision, equipping these promising startups
with the resources and expertise they require."
Abhishek
Sinha, Chief Operating Officer and Board Member, L&T Technology Services, added, “We are eager to solidify our engagement
with the entrepreneurial ecosystem in India. LTTS aims to accelerate the growth
of startups in the generative AI sector, assisting them to pivot, scale, and
make a substantial impact both locally and globally. We are optimistic about
our alliance with nasscom, as we aim to cultivate an environment where artificial Intelligence can thrive and contribute significantly to the
country’s digital economy.”
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