On February 4, Union Minister Ashwini Vaishnaw stated that a local foundational AI platform is anticipated in ten months, and that India may be able to develop its own high-end processing hardware, known as GPUs, in the next three to five years.
Vaishnaw stated that the government will provide 18,000 top-tier GPU-based computing facilities for AI development to entities in the nation within the next few days and anticipates India’s own AI platform within ten months during a Budget Roundtable 2025 hosted by two renowned media houses.
According to Vaishnav, the Ministry is considering three different solutions, each of which would include building the country’s own GPU using a chipset that is reasonably priced and either open source or licensed. The entire world has adopted this strategy, which will enable each nation to have its own GPU within three to five years.
Surge in GPU’s Demand
In the past, multimedia content processing involving several computational operations, such as gaming and video processing, was handled by GPUs (graphics processing units). However, the global demand for AI has caused a sharp increase in the demand for GPUs, and the US chip manufacturer Nvidia controls more than 80% of the industry. According to the minister, Indian Railways increased the confirmed ticket rate by 27% by leveraging AI models, and a number of start-ups have grown really effectively, albeit in comparison to ChatGPT.
According to him, developing artificial intelligence models requires high-end computing equipment, which can only be purchased by wealthy individuals. However, the government has put in place a system that allows everyone to access computing infrastructure at a reasonable cost. Vaishnaw added that researchers, academicians, companies, institutions, and IITs may all access this computing capability and use it to launch foundational models.
When asked whether India would have its own foundational model for AI, Vaishnaw responded, “10 months is the outer limit.” According to him, there are numerous research papers that essentially discuss mathematical techniques that, for instance, the Chinese artificial intelligence company DeepSeek has employed to make the entire process extremely effective.
Make In India Churning Jobs for Indians
According to Vaishnaw, 12 lakh direct and indirect jobs have been created by the government’s mobile manufacturing division under the Make in India initiative. In order to demonstrate the degree of quality and accuracy attained by Indian electronic industries, he displayed a metallic object that was made up of numerous precisely linked pieces, without any apparent lines.
He claimed that it took three years for a well-known Indian business to reach the high degree of accuracy needed by a vendor to supply parts for the production of Apple and Samsung’s high-end smartphones.
India now produces a number of goods and parts needed in the mobile phone sector, such as chargers, battery packs, various mechanics, USB cables, keypads, display assemblies, camera modules, lithium-ion batteries, speakers and microphones, vibrator motors, and more, according to the minister.
According to the Centre, 19,774 people have received training in various artificial intelligence (AI) courses thus far under the Pradhan Mantri Kaushal Vikas Yojana’s fourth iteration (PMKVY 4.0). In order to increase job prospects in the AI industry, the government offers short-term training, upskilling, and reskilling courses to youth nationwide.
In response to a query, the government disbursed INR 7.13 Cr as of December 31, 2025, under the PMKVY 4.0 initiative to close the AI talent gap, according to Jayant Chaudhary, minister of state for skill development and entrepreneurship. With 2,561 and 2,055 people trained under the program, respectively, Uttar Pradesh and Bihar were the top two states. With 2,109 “orientated” applicants, Tamil Nadu came in third, followed by Andhra Pradesh (1,735) and Telangana (1,726).
The candidates received training in subjects like AI (business intelligence analyst), AI (data architect), and AI (data engineer), among others, under PMKVY 4.0. Nearly 20.9 lakh candidates have registered on the FutureSkills PRIME portal thus far, the minister added. Of them, 8.96 lakh people have signed up for different courses, and 4.34 lakh candidates have finished their AI and big data analytics courses successfully. There are presently 157 courses available in the two domains on the FutureSkills PRIME platform.
DGT’s Partnership with Microsoft and Edunet Fuelled the Growth
Choudhary added that 442 trainees have been enrolled in a year-long AI programming assistant (AIPA) course under the craftsmen training scheme (CTS) at 19 National Skill Training Institutes (NSTIs) nationwide by the Directorate General of Training (DGT), in collaboration with Microsoft and the Edunet Foundation. Chaudhary added that the “YuvAi initiative for Skilling and Capacity Building” has been launched by the Ministry of Electronics and Information Technology (MeitY) in partnership with the All India Council for Technical Education (AICTE) and social media behemoth Meta. By enabling students and young developers to use open-source large language models (LLMs) to tackle real-world problems, the program seeks to reduce the nation’s AI skills gap.
Government Pushing for Enhancing AI Skills of its Younger Generation
Additionally, the minister announced that all Craftsman Training Scheme (CTS) trainees at Industrial Training Institutes (ITIs) nationwide will now have access to a 7.5-hour micro-credential course for AI. In light of concerns about job disruptions, the government has accelerated efforts to upskill India’s youth in AI technologies.
To prevent widespread job displacement, the Centre is concentrating on reskilling and upskilling. In her Budget 2025–2026 address last week, Finance Minister Nirmala Sitharaman suggested creating five new CoEs for skill development. Experts predict that this would enable the nation to transition from assembly lines to high-value manufacturing, such as the creation of semiconductors.
The world of technology has been rocked in the past 48 hours. The value of US tech stocks has fallen by $1 trillion, the US is no longer the undisputed leader in AI, and India has realised that it’s not even in the race for AI supremacy. The cause of this upheaval? DeepSeek is a small AI research lab in China that’s making waves.
Liang, who started as a curious student tinkering with algorithms, has become a visionary entrepreneur competing with Silicon Valley giants like OpenAI in less than a decade. Through his company, DeepSeek, Liang has shown that AI doesn’t need to be about massive resources but about strategic vision, efficiency, and innovation. Liang has gone from leading the charge in quantitative finance to launching the disruptive R1 AI model that rocked global benchmarks, making him the ‘Sam Altman of China’.
In this article, we look at the story of Liang Wenfeng, the man who is rewriting the future of artificial intelligence, challenging the hegemony of Western tech giants, and showing that the next big leap in AI innovation can happen anywhere.
Liang Wenfeng Biography
Full Name
Liang Wenfeng
Date of Birth
1985
Birthplace
Zhanjiang, Guangdong, China
Education
Zhejiang University (BEng, MEng)
Profession
Founder and CEO of DeepSeek
Known For
Co-founder of High-Flyer Founder and CEO of DeepSeek
Thesis
Research on target tracking algorithm based on low-cost PTZ camera (2010)
Liang Wenfeng was born in 1985 to an education-focused family in Zhanjiang, Guangdong. His formative years were shaped by his father, a school teacher who stressed the importance of learning. Liang grew up in a modest environment, thus developing a natural curiosity and a strong interest in finding solutions at a young age.
Liang was an excellent student in school, especially in subjects such as mathematics and science. He used what he had, even if it was limited access to advanced technological resources in his hometown. Sometimes, he would dive into books and projects that stretched his understanding. He had a drive to learn and grow, and his teachers saw his potential early on and pushed him to go for his dreams.
Liang’s passion for knowledge was nurtured from these humble beginnings, which also laid the foundation for his later success in the field of artificial intelligence.
After earning his Master’s degree in information and communication engineering from Zhejiang University in 2010, Liang started to explore the intersection of technology and finance. When he and his classmates embarked on collecting financial market data and testing quantitative trading strategies with machine learning during the 2007–2008 financial crisis, his early experimentation paved the way for his future breakthroughs.
After graduating, Liang moved to Chengdu, where he lived in a modest flat and tirelessly explored different applications of AI. But Liang’s resolve was strong, and many of his first ventures failed. His eureka moment came when he realized that applying AI to quantitative finance, an emerging field combining his engineering background with his desire to solve complex problems, was a real opportunity.
In 2013, Liang co-founded Hangzhou Yakebi Investment Management Co., Ltd. with fellow Zhejiang University alumnus Xu Jin. Liang’s first venture into finance was integrating AI with quantitative trading. Based on this success, he co-founded Zhejiang Jiuzhang Asset Management Co., Ltd. (formerly Hangzhou Huanfang Technology Co., Ltd.) in 2015 and quickly became a leader in China’s financial sector.
High-Flyer
In 2016, Liang formed Ningbo High Flyer Quantitative Investment Management Partnership with two classmates. Powered by advanced mathematics and AI, High-Flyer quickly established itself as a leader in the crowded world of finance. Using an innovative approach, the firm grew to an impressive 10 billion yuan in assets in 2019.
High-Flyer wasn’t just about profits; Liang’s vision went further. In a keynote speech at the 2019 Golden Bull Awards ceremony, he said that quantitative trading is essentially about using algorithms and data-driven methods instead of human portfolio managers. Liang described High-Flyer’s mission as improving China’s secondary markets, an area in which he was more interested in improving finance efficiency.
Founding DeepSeek
Deepseek – Liang Wenfeng
Liang’s curiosity and ambition took him to new horizons even as High-Flyer thrived. In 2021, he started buying thousands of Nvidia GPUs, sparking speculation about what he was up to. This seemed too many to be the eccentric hobby of a successful entrepreneur. However, Liang had a grander vision: to create transformative AI models.
In 2019, Liang founded High-Flyer AI, a venture to research AI algorithms and their practical applications. He took this vision one step further in 2023 when he founded DeepSeek, a company focused on artificial general intelligence (AGI). DeepSeek first struggled to find external capital, as its long-term goals did not fit the short-term focus of many venture capital firms, until it was funded by High-Flyer.
However, DeepSeek quickly gained momentum. In December 2024, the company’s V3 model ran on 2,000 Nvidia H800 chips at a cost of less than $6 million, a remarkable efficiency compared to industry standards. DeepSeek’s success put it in the running as a serious player in the global AI landscape.
DeepSeek cemented its reputation further in January 2025 when it launched its R1 model, which shocked Silicon Valley. Liang’s decision to focus on long-term innovation over short-term profitability was a game-changing strategy.
Leadership and Vision
Liang’s companies are not the only things he’s influencing. He was invited to a high-profile symposium in January 2025 hosted by Premier Li Qiang to give insights and suggestions on the 2024 government work report. Liang, recognized as an industry expert, emphasized the need to help build confidence and knowledge in China’s innovation ecosystem. He stressed that China must transition from being a technology consumer to a global contributor.
According to Liang, his leadership philosophy is based on collaboration and inclusivity. For example, DeepSeek primarily hires locally educated talent, and they look for passion and ability, not credentials. Liang also believes that open-source approaches are the best way to go in disruptive technologies, saying that closed systems are only good for a short period of time.
Liang Wenfeng – DeepSeek AI
Under Liang Wenfeng’s visionary leadership, DeepSeek is at the forefront of AI innovation, with large models and the audacious aim of AGI.
In a 2024 interview, Liang emphasized that DeepSeek’s core principle is balance: “We keep our margins so modest that we don’t lose or make too much.”
DeepSeek differs from many other companies in the industry because it is committed to being open-source. Liang also pointed out that the company’s collaborative ethos means that ‘establishing a robust technology ecosystem matters more than going closed source.’
Liang is determined to change China’s AI landscape, even though the industry has a history of playing catch-up with the US.
Liang Wenfeng – Personal Life
While his groundbreaking achievements in AI are certainly not the only factor contributing to Liang Wenfeng’s journey to success, his deep sense of family and unwavering values are also major factors. Liang is one of China’s most influential entrepreneurs and, as of 2025, has a net worth of $3.2 billion. He is wealthy, yet he’s incredibly humble, always giving credit to the people who support him and encourage him to succeed.
Liang is a dedicated family man, and his wife, Zhang Mei, has been a key part of his journey. They’ve created a life together based on humility, perseverance and mutual respect. They have been married for over a decade, and their relationship reflects the values they hold, balancing personal and professional life. The couple have two children, and Liang frequently talks about the importance of teaching the values of hard work and determination to them.
Liang’s foray into AI started in 2008 when he and his classmates tested out combining artificial intelligence with finance during the global financial crisis.
Born into a modest household in Zhanjiang, Guangdong, Liang’s father was a primary school teacher. This upbringing was discipline and a passion for knowledge.
He received a Bachelor’s degree in Electronic Information Engineering from Zhejiang University and a Master’s in Information and Communication Engineering. His thesis was on cost-effective target-tracking algorithms.
Liang successfully integrated AI into quantitative trading in 2013, which was a precursor to his future success in finance and technology.
By 2019, Liang had transformed Ningbo High-Flyer into an AI-driven quantitative trading leader and managed more than 10 billion yuan.
Before the US imposed restrictions on AI chips, Liang bought 10,000 Nvidia A100 GPUs for his company DeepSeek, putting it ahead of the pack.
Liang founded DeepSeek in 2023 to advance artificial general intelligence, and it’s a game changer in China’s AI landscape.
Liang believes in hiring passionate and talented people rather than experienced people, innovating, and having a long-term vision rather than short-term profit.
He believes in open innovation and that disruptive technologies should not be closed source.
The launch of DeepSeek V2 and other cutting-edge projects, such as the AI price war, proved DeepSeek’s disruptive potential.
At the 2019 Golden Bull Awards, Liang spoke about the superiority of AI-driven decision-making over human biases in finance.
Liang’s early business ventures were not easy, but his perseverance brought him to amazing success, illustrating his determination and will to succeed.
Liang pioneered bringing AI into financial markets and how quantitative trading operates globally.
FAQs
Who is Liang Wenfeng?
Liang Wenfeng is the founder and CEO of DeepSeek.
What is Deepseek?
DeepSeek is a Chinese artificial intelligence company focused on developing open-source large language models (LLMs).
What is Liang Wenfeng networth?
Lian Wenfeng’s net worth as of January 2025 is $3.2 billion.
This article has been contributed by Arun Meena, Co-Founder & CEO, RHA Technologies Pvt Ltd.
Artificial Intelligence (AI) has changed from a trial technology into a fundamental part of today’s business strategies. Several vital trends are playing a role in how organizations operate, deal with customers, and advance innovation. US organisations are leading, with more than 50 percent of companies globally integrating AI to automate at least one business function, according to global research. Over 65 percent of Indian firms are leveraging on AI from its operational side, with the focus being made on the sectors of IT, healthcare and finance. The methods of operations of business, customer engagement and innovation in many different sectors are changing through these trends. Here is a look at various AI variants, and their influence upon the existence of firms in different industries.
1. Generative AI and Accessibility
Generative AI is changing the way businesses operate by automating the process of content creation and raising productivity. ChatGPT and DALL-E enable companies to develop text, images, and even code from simple prompts. This simplifies processes while also making sophisticated AI tools available to those without a technical background.
The rise of low-code and no-code platforms is further democratizing AI. These user-friendly interfaces allow employees at all levels to develop AI applications, fostering a culture of innovation and efficiency within organizations.
2. Multimodal AI
A noteworthy trend is the emergence of multimodal AI systems that can efficiently handle a variety of data types, including text, images, and audio, all together. This characteristic bolster user dialogues by delivering more sophisticated and contextually aware responses. For example, applications like Microsoft Designer make it possible for users to generate graphics from text descriptions, which helps simplify design workflows and makes them more accessible. For an example, Indian businesses are using AI tools like Bhashini for translating and processing multiple languages as a means to make their customer service barrier free.
Beyond creative uses, multimodal AI is also emerging on the customer service front, where chatbots can respond to questions about the product that take text and visual input. It reaches a point where more genuine interactions = a better customer satisfaction.
3. Enhancing Workplace Productivity
AI is also having a big impact in increasing workplace productivity. These companies are using AI supported tools to simplify common tasks, such as data entry and scheduling, or to deal with customer queries. Releasing employees from the routine tasks allowed companies to concentrate human talent on those tasks that demand creativity and critical thinking. For businesses looking to stay ahead of the pack, using AI is proposed to increase employee productivity by an astounding 40% or even more. Furthermore, when teams have the ability to work together through project management tools in tandem with incorporating AI, teams receive insights on time and resource availability.
Unlike traditional AI, predictive analytics is powered by AI and has been changing the way enterprises make their decisions. With predictive models utilizing historical data, organizations can forecast trends and the behavior of consumers so that they can make strategic decisions without the need for all information. This is particularly useful in sectors like retail, finance and healthcare where preference and risk management of consumers is as important as ever. For example, retailers use predictive analytics to predict product demand and use it to optimize their inventory management, as they use predictive analytics to analyse seasonal trends. These kinds of models help to identify patients at risk in health care to prompt proactive interventions.
5. AI in Research and Sustainability
AI’s usage is more than just standard business operations, it can take its heels into scientific research as well as sustainability. AI is being used by many organizations to produce tools for predicting weather patterns, estimating carbon emissions and a more efficient way of farming through precision farming.
The innovations not only help maintain environmental health, but they also help improve operational efficiency by optimizing resources. As an example, chatbots implementing AI assist farmers rapidly in the identification of crop diseases or pests, which in turn can improve yields and impact chemical application reductions.
6. Advancements in Conversational AI
Conversational AI is gaining popularity in various industries, especially in customer service. These systems can answer detailed questions and engage users. As automated communication systems grow, the market for conversational AI is expected to expand. Advancements in these technologies will lead to greater complexity and improved understanding of context and emotional cues, ultimately transforming customer service interactions.
7. Ethical Considerations and Regulatory Challenges
AI trends in business are constantly evolving, impacting various industries through advanced tools and predictive analytics. Companies must be mindful of ethical considerations and regulatory compliance when incorporating AI technologies. Understanding these trends helps businesses adjust strategies, improve operational efficiency, foster innovation, and support sustainable growth. As 2025 approaches, AI presents significant opportunities to transform the business landscape, offering new avenues for those willing to adopt the technology.
The trends that affect AI in business are continually changing and have many dimensions. Through generative features that simplify the use of advanced tools and predictive analytics that elevate strategic decision-making, AI has a deep effect across multiple industries. Organizations have to be aware of ethical considerations and regulatory compliance as they integrate these technologies.
The knowledge of these trends will help businesses to make shifts in their approach to adopt the inventive power of AI in order to optimize their operational effectiveness, encourage innovation and facilitate sustainable growth. As we enter 2025 and beyond, there are great possibilities for AI to disrupt the business world, providing new opportunities to businesses that can embrace the technology. Specifically, the organizations focused on AI based digital transformation, particularly in domains such as education, real estate, BFSI, and media have an advantage in being able to provide solutions that meet their specific market requirements. Businesses have an opportunity to take advantage of these trends but also ensure their ethics through their ability to deliver a complete AI strategy.
According to an internal document obtained by a renowned media outlet, Meta, the parent company of Facebook, Instagram, and WhatsApp, intends to fire some 3,600 workers who have been deemed low performers. The decision, according to CEO Mark Zuckerberg, is an attempt to “raise the bar on performance management and move out low performers faster” as the business continues to develop immersive products and AI-powered services.
About 5% of Meta’s staff, which stood at 72,400 as of September, will be affected by the layoffs. According to an international news outlet, U.S. employees should receive status updates by February 10; notices for other countries will follow. Zuckerberg stated, “Meta wants to make sure that it has the best people on its team because this is going to be an intense year.”
Meta recently abandoned its US fact-checking program in favour of a brand-new community notes initiative. Similar to X’s community notes, this community-driven system seeks to enable users to report posts that may be deceptive and offer context by incorporating a range of viewpoints.
The Roadmap of Future Operations
Later this year, Meta also intends to bring on new personnel to fill the positions of exiting staff members, who Zuckerberg claims would receive “generous” severance money. Zuckerberg also mentioned that if there is hope for their future contributions, a small number of workers who did poorly in the previous era can be kept on board. Zuckerberg revealed on a recent episode of The Joe Rogan Experience that Meta and other top tech companies are developing AI systems to tackle complicated coding chores that are typically performed by human programmers. He also mentioned ambitions to use artificial intelligence (AI) to replace mid-level software engineers by 2025 during the conversation.
Other Giants Joining the Job Cut Game
Meta is not alone, though, in indicating that AI developments are driving firm reorganisation. As part of a larger trend in the tech sector, industry heavyweights like Microsoft and Salesforce have also revealed plans to reduce their workforces. In a 20VC podcast with Harry Stebbing, Salesforce CEO Marc Benioff disclosed that the SaaS giant’s 2025 business plan calls for a significant cutback in the hiring of software engineers for the upcoming year. Agentforce, the company’s proprietary AI platform, is anticipated to encourage a 30% adoption rate among engineering teams.
“We no longer need additional software engineers because our engineering productivity has grown by 30%,” Benioff said. He asserted that AI had radically altered the way brand operate. Benioff stated that Salesforce will now concentrate on growing its sales team by 1,000 to 2,000 individuals, even if the business intends to eliminate its support engineering positions. Benioff emphasised that Salesforce closed 200 sales in five days during the October-ending quarter after the debut of Agentforce. This quarter, the company now wants to close thousands of Agentforce sales.
In a recent Rajya Sabha session, Union Minister of State for Commerce and Industry Jitin Prasada revealed that Uttar Pradesh (UP) has become a notable state, home to about 9% of all startups in India. To encourage creative business endeavours and strengthen the startup ecosystem, the Uttar Pradesh government has contributed INR 1,000 crore to the UP Startup Fund. Paytm, Paytm Mall, India Mart, Moglix, Pine Labs, Innovaccer, InfoEdge, and Physics Wallah are eight of the 108 unicorns in India that are based in Uttar Pradesh. With firms dispersed throughout all 75 districts, the state has surpassed its initial 2025 target and established 10,000 startups by mid-2023.
Growth of Startup Sector Reflects State’s Proactive Measures
This impressive expansion of UP’s startup scene is evidence of the state’s proactive efforts to create an atmosphere that is conducive to business. The Uttar Pradesh government has put in place a number of laws and initiatives to assist entrepreneurs and position the state as an innovation hub because it recognises the potential of startups to spur economic growth and job creation.
Through the creation of strong infrastructure, guaranteeing policy support, and encouraging innovation across industries, the state’s extensive StartInUP program seeks to create a world-class startup ecosystem. Creating one million square feet of incubation and acceleration space, supporting the growth of 10,000 companies (achieved before the deadline), building eight Centres of Excellence (CoEs) in high-potential regions, and constructing 100 incubators—one in each district—are just a few of its ambitious objectives.
Supporting New Businesses in Tier 2 and Tier 3 Cities
With almost half of the state’s startups originating from Tier 2 and Tier 3 cities, UP has concentrated on empowering entrepreneurs in these areas in an effort to decentralise startup growth. The state is facilitating economic growth in all 75 districts by encouraging innovation outside of large urban hubs. Around one lakh jobs have been created in the state as a result of this expansion, demonstrating the important role entrepreneurs play in fostering livelihood possibilities and enhancing local economies.
UP is working to create agri-tech companies that tackle issues including low agricultural yields, poor food processing, and waste in rural areas. To assist businesses in cutting-edge fields including artificial intelligence (AI), drones, medical technology, blockchain, 5G and 6G, quantum computing, additive manufacturing, and space technology, the state government has donated ₹1,000 crore to the UP Startup Fund.
Drafting Policies that Further Fuel the Growth
In order to encourage innovation and entrepreneurship, the state has implemented regulations that provide incentives like tax breaks, seed money, and infrastructure support. The Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA) plan was introduced in early October 2024 with the goal of empowering young entrepreneurs by offering interest-free loans up to INR 5 lakh, with the goal of developing one lakh young entrepreneurs yearly. Similar to this, the Uttar Pradesh government has given the IT and IT-enabled services sector industry status in an effort to draw in multinational tech companies. This will allow these businesses to purchase property at industrial prices and strengthen UP’s standing as a major IT hub in North India.
The state’s industrial potential has been highlighted in large part by events like UPITS 2024, which give business owners a chance to connect, look for collaborations, and enter new markets. An agreement to build a semiconductor production plant in Jewar, Uttar Pradesh, was inked in September 2024 between the United States and India. An important turning point in India’s technical development will be reached with the opening of this state-of-the-art facility, called “Shakti,” which will be the first of its type in the nation.
In order to create the University of Innovation (UoI), which aims to be the first Institute of Eminence (IoE) in the state, the Government of Andhra Pradesh (GoAP) and PhysicsWallah (PW), an EdTech business, have signed a memorandum of understanding (MoU).
According to a statement released on December 21, this initiative aligns with Chief Minister N. Chandrababu Naidu’s vision of educating the state’s youth in artificial intelligence (AI), emerging technologies, new age skills, and entrepreneurship. This will help Andhra Pradesh become a hub for education.
University will Focus on Blending Academic Excellence, Innovation, and Research
The goal of the University of Innovation is to combine research, innovation, and excellence in education. Addressing important issues in education and employability is another primary objective. A hub-and-spoke strategy would be used for the effort, with satellite centres located around Andhra Pradesh functioning as spokes and the University as the primary hub. This strategy aims to give students from various geographic locations and backgrounds access to modern, hybrid education that blends online and in-person learning opportunities. PW is working with industry partners like Amazon Web Services to offer education that is relevant to the industry in an effort to maintain the curriculum in line with the market.
The goal of this collaboration, according to Nara Lokesh, Minister for Human Resources Development in the Andhra Pradesh government, is to promote innovation and give the state’s young skills that meet industry standards and demands. It is admirable that the University of Innovation has the goal to become an Institute of Eminence by fusing cutting-edge technology and education to pave the road for progress and development. The state government is certain that this project will solidify the state’s standing as a pioneer in knowledge generation and talent development.
Alakh Pandey, the founder and CEO of PhysicsWallah (PW), expressed his opinions on the partnership by saying that PhysicsWallah values education. Its establishment of the University of Innovation in collaboration with the Andhra Pradesh government is a step in that direction. In order to establish an institution that blends academic learning with industry relevance, the brand has committed to investing up to INR 1000 crores from GSV Ventures in the US and other investors. In an effort to promote entrepreneurship and innovation, the UoI will assist students with the skills they may require in a labour market that is continuously changing.
Further Details Revealed Through a Joint Statement
According to a joint statement, GoAP and PW’s unified perspective is reflected in the creation of the University of Innovation. To guarantee individualised learning experiences for every student, the university will also try to use technology, such as AI-driven tools and adaptive learning platforms. This collaboration is an attempt to help the young people develop talents that are relevant to the industry, which will help them develop the abilities they require.
Startups and other pertinent parties have been asked to submit ideas for developing AI-powered tools that can identify deepfakes to the Ministry of Electronics and Information Technology (MeitY). The Ministry has requested five suggestions for the creation of domestic technical AI tools, rules, frameworks, and standards in order to establish a reliable AI ecosystem, in accordance with the expression of interest (EoI) issued by MeitY. As artificial intelligence (AI) advances make deepfakes more realistic, it is critical to provide deepfake detection techniques that protect society from possible disinformation and manipulation, as per the document released by MeitY. According to MeitY, in order to assess the authenticity of media and identify manipulation, the possible deepfake detection system should use advanced deep learning algorithms, provenance-based approaches, and other detection methods.
Additionally, it stated that in order to facilitate automated cross-modal content verification, offer real-time detection, and improve digital ecosystem security, the submitted deepfake detection technologies should be constructed in a way that makes them simple to incorporate into web browsers and social media platforms.
Laying Emphasis on Tool that can Differentiate Between AI Generated and Non AI Generated Content
The creation of a tool to distinguish AI-generated content from non-AI-generated content is another project the ministry hopes to carry out under the IndiaAI Mission. The EoI emphasised that in order to guarantee traceability and security and stop the creation of harmful and unlawful information, such a platform should contain distinct and undetectable identifiers in AI-generated content. The third initiative entails creating a platform that can assess how resilient AI systems are for high-stress situations like cyberattacks, natural catastrophes, and operational and data failures. Stress testing can guarantee readiness for high-stakes scenarios and offer useful insights into system flaws. According to the EoI, this theme focuses on the creation of instruments and techniques, like simulation-based testing or stress evaluation metrics, that are especially intended to strengthen the resilience of AI systems under pressure.
Setting Up of Ethical AI Framework
Furthermore, in order to guarantee that “AI systems respect fundamental human values, uphold fairness, transparency, and accountability, and avoid perpetuating biases or discrimination,” MeitY has urged stakeholders to submit recommendations for “ethical AI frameworks” that provide an organised method. The report also stated that in order to facilitate the widespread use of AI, “it is necessary to create thorough AI Risk Assessment and Management tools and frameworks that are intended to detect, evaluate, and reduce cross-sectoral safety risks, guaranteeing that failures in one area are contained and managed without affecting interconnected sectors.”
Applications are Invited From All Institutions
The EoI adds that entrepreneurs, academic institutions in India, research and development groups, commercial businesses, and startups are all welcome to apply for the projects. This comes days after S Krishnan, the IT secretary, allegedly stated that the Ministry was developing a system to assess the reliability and safety of AI technologies. Additionally, he stated at the time that the centre aims to emphasis innovation while avoiding restrictive rules. Earlier this year, Union IT Minister Jyotiraditya Scindia notably reiterated this opinion, stating that ethical considerations and a strong legal framework should govern the adoption of AI. The Indian generative AI (GenAI) ecosystem, which is home to 200 businesses and has raised over $1.2 billion in funding between 2020 and the third quarter (Q3) of 2024.
In order to establish guidelines for the ethical and responsible application of AI in the banking and financial industries, the Reserve Bank of India (RBI) has established a committee. In addition to outlining a plan for the long-term integration of AI, the group is responsible for tackling pressing issues including algorithmic bias, data privacy, and the explainability of decisions. According to RBI governor Shaktikanta Das, who spoke after the Monetary Policy Committee meeting, technologies such as cloud computing, artificial intelligence, and tokenisation are fast changing the banking system.
A group of specialists from many domains will be formed to ensure that these technologies are used to their full potential while minimising dangers like algorithmic bias, lack of transparency, and privacy of personal information. He also mentioned that this group will be recommending a framework for the ethical and responsible implementation of artificial intelligence (FREE-AI) in the banking industry.
Robust, Comprehensive, and Adaptable Framework
To meet the specific demands of the financial industry, the proposed committee—which would consist of experts from a range of fields—strives to provide a framework that is strong, thorough, and flexible. Addressing dangers associated with AI should be prioritised through early intervention, according to the RBI. The benefits of AI are undeniable, but the risks, such as algorithmic bias, data privacy problems, and choices that are difficult to justify, are just as great. It is crucial to handle these risks at the early phases of adoption, according to the central bank, in order to fully reap the benefits. Governor Das has already brought attention to the concerns associated with AI, such as the increased likelihood of cyberattacks and data breaches.
Another thing he brought up was how difficult it is to audit and understand the algorithms that support financial decisions due to the opaque nature of AI systems. Along with this statement, the Reserve Bank of India (RBI) also introduced a model dubbed MuleHunter that is powered by artificial intelligence and machine learning. Artificial intelligence (AI) to identify mule bank accounts, which enables small financing banks (SFBs) to provide pre-approved credit lines through the Unified Payments Interface (UPI), among other things.
RBI will Introduce Podcasts
In addition, Das announced that the RBI will be launching podcasts to reach a wider audience as part of its outreach efforts. Cyber fraud cost Indians up to 11,333 crore rupees in the first nine months of 2024, according to official statistics. In particular, during the first half of the current fiscal year 2024-25 (FY25), there were 6.32 lakh instances of UPI fraud totalling INR 485 cr.
The Reserve Bank has improved its communication skills and toolbox throughout the years to increase openness and strengthen ties with the public. During the meeting of the monetary policy committee (MPC), Governor Shaktikanta Das stated that the bank is planning to expand its communication tools to include “podcasts” in order to reach a wider audience with its information. Publishing informational pamphlets in regional languages is one of the many new ways the central bank is reaching out. This change is a component of RBI’s larger plan to increase openness and participation from the public. The Santali language pamphlets were issued in November by the central bank with the goal of promoting financial literacy across various demographics, such as students, farmers, entrepreneurs, and the elderly.
While reorganising its operations last week, 80–100 workers were let off by Mumbai-based audiobook platform Kuku FM. Additionally, contracted staff were affected by the exercise. According to the reports, 300 workers, both on and off the roll, lost their jobs overall. The exercise had the biggest effect on the content team, which consists of authors and producers.
According to the sources, there may have been even more workers laid off throughout the exercise. Repots said that Kuku FM implemented the layoffs in order to save expenses. For content creation, the startup will probably use artificial intelligence (AI).
Financial Dynamics of Kuku FM
In the fiscal year 2023-2024 (FY24), Kuku FM’s income more than doubled to INR 88 Cr from INR 41.1 Cr in the prior fiscal year. From INR 116 Cr in FY23, its loss decreased by 18% to INR 96 Cr. While its content development costs more than tripled to INR 11.2 Cr, its marketing expenditures increased 37% year over year to INR 48 Cr. Kuku FM, which was founded in 2018 by Bisu, Vikas Goyal, and Vinod Kumar Meena, provides audio programming in a variety of categories, including news, education, entertainment, self-help, personal finance, mythology, spirituality, and inspiration.
At the moment, it asserts that its platform hosts over 150K hours of content in a variety of formats. The startup provides audiobooks in a number of regional languages, including Tamil, Hindi, Bengali, and Marathi. It contains English-language information as well.
Funding Raised
Nearly a year has passed since the business raised $25 million in its Series C fundraising round, which was co-led by International Finance Corporation and The Fundamentum Partnership and included Vertex Ventures. To date, it has raised $72 million in investment. Among its investors are Krafton and Shunwei Capital. It should be noted that the reorganisation process was carried out about a month after Pocket FM, a rival of Kuku FM, announced layoffs. According to reports, Pocket FM fired about 50 workers worldwide in a variety of roles. Earlier this year, Pocket FM had let go of almost 200 journalists working in the United States.
Layoffs a Common Scenario in Indian Startup Sector
In the first half of 2024, Indian startups laid off fewer workers than they did in the same period last year, suggesting that the industry may be nearing the end of its worst layoffs, albeit it is still far from done.
According to data from executive search agency Longhouse Consulting, startups reduced employment by approximately 11,250 between January and June of this year, compared to 21,000 in the first half of 2023 and 15,000 in the second half.
While layoffs may have decreased from their 2023 highs, industry executives and hiring experts warned that they are still happening as startups face a tight funding environment and an emphasis on cost-cutting, particularly for those getting ready for an IPO.
Nitin Konde
