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The Stage Is Set To Shape The Future Of AI In India


SUMMARY

The GenAI Summit is a one-of-a-kind conference that aims to bring India’s leading minds to delve into key discussion points and debates around the rise of GenAI

The GenAI Summit will host over a dozen engaging sessions featuring PhonePe’s Rahul Chari, Microsoft India & South Asia CTO Dr Rohini Srivathsa, Lightspeed India’s Hemant Mohapatra, Portkey’s Ayush Garg, invideo AI Sanket Shah among others

Besides panel discussions, keynotes and firesides, The GenAI Summit also presents an opportunity for new-age AI startups to showcase their technology and products to the audience

After all the fun and games around ChatGPT, generative images and more in the past year, it’s time to get serious about generative AI (GenAI). As the world’s third largest startup ecosystem, India will undoubtedly have a huge role to play in the GenAI revolution.

That’s the opportunity we are looking to uncover at The GenAI Summit on April 3, 2024, in Bengaluru. Presented by Inc42 and Microsoft, co-presented by Invideo and QX Lab AI and supported by partners such as Venture Catalysts, Google Cloud, Mobavenue, MongoDB,  and Peak XV — The GenAI Summit will host 250+ attendees, including founders, policymakers, business leaders and investors — who will decode GenAI’s potential in India’s startup economy.

Inc42 has been on the generative AI trail ever since the early experiments in machine learning, natural language processing and neural networks. Over the years, we have seen AI startups and technology go through the various stages of maturity and evolution.

While many sceptics doubted the potential of GenAI at first, we now know that it is the future. As always, we have taken charge of getting to the core of it all and take a peek at the future of AI in India.

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The GenAI Summit 2024: What To Expect

The Indian startup ecosystem is still coming to terms with how GenAI will disrupt tech companies and change their businesses. Many have expressed concern about the dominance of big tech giants, others have called for global regulations and of course, the biggest debates have been around how AI will impact human jobs and our livelihoods.

The early adopter wave has leveraged generative AI to streamline workflows and automate manual tasks, but there is a lot more than GenAI is set to change.

We know it will disrupt how consumers interact online with brands and each other, we know it will revolutionise development and distribution of software and services, and we also know it will make many jobs redundant, creating the need to reskill millions of individuals.

The GenAI Summit is a one-of-a-kind conference that aims to bring leading minds in the AI space to delve into these key discussion points and debates. We are hosting over 35 of the most influential AI leaders and decision-makers from the startup, policy and enterprise ecosystems.

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Founders, investors, CTOs and AI experts will drive discussions and debates around the emerging trends in GenAI, how businesses can leverage LLMs and AI models strategically, and where India is placed on the global GenAI map.

Inc42 will host more than a dozen engaging sessions (keynotes, fireside chats and interactive panels) featuring the likes of PhonePe cofounder & CTO Rahul Chari, Lightspeed India partner Hemant Mohapatra, Rephrase.ai cofounder Shivam Mangla, Microsoft India & South Asia CTO Dr Rohini Srivathsa, Stellaris Venture Partners’ Alok Goyal, Portkey cofounder Ayush Garg, InVideo founder Sanket Shah, among dozens of others.

The summit will also see panels featuring Flyfish.ai founder Shridhar Marri, Whatfix founder Khadim Batti, pi Ventures’ managing director Roopan Aulakh, Writesonic founder Samanyou Garg, BetterPlace CEO Pravin Agarwala, Capria Ventures’ managing partner Surya Mantha and several other key players in India’s AI ecosystem.

Besides panel discussions, keynotes and fireside chats (more on this below), The GenAI Summit also presents an opportunity for new-age AI startups to showcase their technology and products to the audience.

Sneak Peek At The GenAI Summit Agenda

And of course, with such a stellar lineup, we are expecting some truly engaging discussions and nuanced fireside chats. Here are five of the most anticipated sessions and talks at The GenAI Summit:

PhonePe’s AI & ML Playbook

As the market leader in the UPI space and with over 500 Mn lifetime users, PhonePe knows a thing or two about scaling up its tech stack. PhonePe cofounder and chief technology officer Rahul Chari will pull back the curtain on how the fintech decacorn has leveraged AI and ML over the years and how it’s looking at the GenAI opportunity.

Chari will shine a light on the implications of harnessing AI at PhonePe’s massive scale, and give us a peek at the machine learning tech stack that is driving PhonePe’s operations and products today. Of course, given the criticality of data in AI-led operations, Chari will also delve into the guardrails that PhonePe has built with financial data security in mind.

GenAI SummitGenAI Summit

How AI Will Shape India’s Tech-Ade

With a $10 Bn investment in OpenAI — the makers of ChatGPT — Microsoft has signalled that it is betting big on GenAI. And now the tech giant is turning its attention to startups outside of Silicon Valley for the next major opportunity,

Microsoft India & South Asia chief technology officer Dr Rohini Srivathsa would delve into how the Indian  tech ecosystem can harness the power of AI for the next growth spurt, and how AI will shape the next decade for India’s digital economy.

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First Movers In India’s GenAI Revolution 

There’s no dearth of early-stage AI innovators in India, as we discovered in our quest to design the GenAI Summit’s agenda over the past few months. There are startups such as Portkey building tools to help enterprises manage their GenAI operations, while others such as Humantic are looking to bring automation and personalisation to sales teams of all sizes.

We’ve brought together Rephrase.ai cofounder Shivam Mangla, Portkey cofounder and CTO Ayush Garg, Humantic AI founder & CEO Amarpreet Kalkat for this panel on the first movers in the GenAI space in India, moderated by Arjun Rao, general partner at Speciale Invest.

These startups are very likely to set the pace for Indian startups in the global AI race. Their learnings on product-market fit, outcome-first approach, customer acquisitions and revenue models will form the playbook for other startups to follow.

Fuelling GenAI: What Investors Think About The Revolution?

When it comes to investing in GenAI models, venture capital players are split between a conservative approach and betting big.

While many investors are cautious about backing startups building the foundational models — with some exceptions such as Sarvam or Krutrim — on the flipside, most VCs are bullish about the prospects of GenAI-based applications and vertical models.

What cannot be debated is that GenAI has become a major focus point for pretty much every VC fund. Lightspeed India’s Hemant Mohapatra; Bharat Innovation Fund’s Ashwin Raguraman; Stellaris Venture Partners’ Alok Goyal and Accel’s Prayank Swaroop will lead the discussion on how VCs are adjusting their thesis for GenAI and how they are evaluating Indian startups on their AI quotient.

And there’s plenty more to join these highlights and headliners at The GenAI Summit — from sessions on how growth and late-stage tech startups are adopting AI and ML to the implications of AI on key sectors such as fintech, media and entertainment, and commerce.

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by Sameera

Binance Responds to User Complaints Global crypto exchange Binance has announced that it will increase compensation for customers who were liquidated during the recent crypto market selloff. The move follows widespread criticism after thousands of traders suffered sudden losses due to extreme volatility earlier this month. According to internal reports, Binance will refund part of the unrealized losses to affected users through its User Protection Fund, which currently holds over $1.2 billion in reserves. The compensation applies mainly to futures traders whose positions were automatically liquidated during rapid price swings in Bitcoin and other major tokens. Bitcoin’s Price Plunge Sparks Liquidations The crypto market experienced one of its sharpest downturns in 2025, with Bitcoin (BTC) falling below $50,000 for the first time in eight months. This triggered billions in forced liquidations across major exchanges, including Binance, OKX, and Bybit. Analysts suggest that a combination of high leverage, macroeconomic uncertainty, and institutional selloffs contributed to the crash. Binance faced particular backlash for what users described as “slippage and server delays” during the event. Binance Enhances Transparency In response, Binance’s management pledged to improve system transparency and risk management mechanisms. The exchange stated it is reviewing its liquidation protocols to ensure fairer treatment of users during periods of extreme volatility. A spokesperson confirmed that Binance would also begin publishing weekly protection fund audits to reassure investors. Why It Matters for Investors Looking to Buy Bitcoin The compensation announcement comes at a crucial time for retail traders considering whether to buy Bitcoin on Binance amid renewed volatility. Analysts note that Binance’s proactive stance could restore confidence among users after months of regulatory scrutiny and market turbulence. Crypto strategist Michael Wu from Amber Group commented, “This move reinforces Binance’s commitment to customer protection. It may also attract new users who are hesitant to trade during volatile periods.” Still, experts warn that volatility remains high, and investors should exercise caution before re-entering the market. The Bigger Picture The event underscores the need for stronger investor safeguards as the crypto industry matures. Binance’s decision to compensate affected users sets a potential precedent for other exchanges facing similar backlash. Meanwhile, Bitcoin prices have started to stabilize around $52,300, with cautious optimism returning to the market. Stay ahead with the latest in crypto, startups, and financial technology on StartupNews.FYI — your source for real-time business insights and innovation updates.

by Sameera

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by Sameera

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