Stanford Universitys AI Index report states that India is ranked fifth in terms of investments received by startups offering AI-based products and Services in 2022. AI startups in India received a total of $3.24 billion, surpassing countries such as South Korea, Germany, Canada, and Australia. However, India is still behind the US, China, the UK, and Israel in terms of AI investments received
According to the same report, AI startups in India received a cumulative funding of $7.73 billion from 2013 to 2022, which places it sixth among the countries with the highest AI investments during that period. However, nearly 40% of this funding was received in the year 2022 alone.
The AI Index report by Stanford University revealed that 54% of the researchers working on Large Language Models (LLMs) are from American institutions. Nonetheless, for the first time, researchers from Canada, Germany, and India contributed to the development of LLMs last year