L&T Technology Services Limited (LTTS) has announced a groundbreaking partnership with the nasscom GenAI Foundry initiative. LTTS, a global leader in digital engineering and R&D services, aims to provide comprehensive support to GenAI startups, fostering their growth and innovation within the burgeoning AI sector.

GenAI startups in India have witnessed remarkable growth, securing an impressive $475 million in funding from 2021 through May 2023. This collaboration between LTTS and nasscom seeks to capitalize on this momentum, offering crucial resources, mentorship, and expertise to a select group of 26 startups. LTTS will engage with these startups to provide continuous mentorship, guidance in product development, assistance with innovation roadmaps, and offer Proof of Concepts aligned with the company’s technological trajectory.

LTTS’s commitment to advancing AI solutions is underscored by its innovative portfolio, featuring prominent offerings such as AiKno™ and Chest-rAi™. AiKno™ is an AI-driven platform that enables the rapid deployment of AI models within enterprises, offering pre-built models and a user-friendly interface. On the other hand, Chest-rAi™ is a groundbreaking tool designed for radiologists, leveraging deep learning algorithms to detect abnormalities in chest X-rays, facilitating swifter and more accurate diagnoses.

Ankit Bose, Head of AI at nasscom, expressed confidence in the innovative capabilities of these startups, highlighting the collaboration with LTTS as a significant step toward supporting and propelling these promising ventures onto the global stage.

Abhishek Sinha, Chief Operating Officer and Board Member at L&T Technology Services, emphasized the company’s eagerness to contribute to the entrepreneurial ecosystem in India. Sinha stated, “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.”

The collaboration between LTTS and nasscom emerges as a strategic endeavor to empower GenAI startups, ushering in a new era of innovation, growth, and technological advancements within the thriving AI landscape in India. As these startups receive support and mentorship, the partnership is poised to play a pivotal role in shaping the future of AI-driven solutions and contributing to India’s prominence in the global digital economy.

By Admin

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