Amazon Web Services (AWS) remains bullish on Indian startups adopting its generative artificial intelligence (GenAI) platforms, saying it ticks the boxes of driving innovation while being cost-effective.
The global cloud company has been closely engaged with the Indian startup ecosystem both with providing an array of cloud services and solutions, and accelerator programmes.
In an interaction with Enterprise Story, Kumara Raghavan, India Head of Startup Sales Segment at AWS, says, “We see the potential for innovation as infinite and startups are definitely making the most of it. So there's no dearth of curiosity in using any of these technologies and putting them to use.”
Adobe acquires Bengaluru-based GenAI startup Rephrase.ai
Today, GenAI has become the go-to technology which every organisation—regardless of their size—is keen to adopt.
According to Raghavan, startups continue to adopt AI and GenAI platforms regardless of their maturing stage or sectors. For example, agritech startups like DeHaat are leveraging AWS' advanced AI capabilities which, the cloud company says, has led to 15% cost savings for the farmers.
At the same time, startups, which are also at a certain maturity stage, are leveraging GenAI tools to cater to their larger mass of customers.
“We see applications of GenAI, both in the early stage, in the mid-stage and in the late-stage startups across the spectrum,” said Raghavan.
The interest in GenAI also comes at a time when there is a perceptible slowness in the inflow of capital into the startup ecosystem and a greater focus on achieving profitability instead of just growth. This has resulted in startups acting upon certain cost optimisation measures.
According to Raghavan, despite the slow environment, Indian startups are still focused on innovation to meet the varied demands of customers.
“They (startups) have been focused on unit economics and bringing the overall cost down but they still want to innovate and there is a lot of conversation around GenAI,” said Raghavan.
He offered examples of companies such as CleverTap or INDMoney which are leveraging advanced AI capabilities in their businesses. CleverTap, as a martech startup, saw a surge in business and this resulted in higher technology costs but Raghavan says shifting to AWS Graviton processors saw them lowering as much as 20% reduction in costs.
Similarly, fintech startup INDMoney saw its technology costs coming by as much as 50-70% by shifting to newer platforms of AWS.
“There are a variety of ways where our philosophy has been to constantly help our customers lower their costs, both through technical levers and commercial levers, and also on a one-to-one engagement basis,” says Raghavan.
As of September 20, 2023, AWS has reduced prices 134 times ever since the company was founded way back in 2006.
“We want to be there, to empower builders and businesses to build a better India. There is a lot of potential,” Raghavan said and noted that AWS is quite bullish about innovation in the country.
Edited by Kanishk Singh
AWS bullish on Indian startups adopting GenAI to lower technology costs
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12.12.2023
Amazon Web Services (AWS) remains bullish on Indian startups adopting its generative artificial intelligence (GenAI) platforms, saying it ticks the boxes of driving innovation while being cost-effective.
The global cloud company has been closely engaged with the Indian startup ecosystem both with providing an array of cloud services and solutions, and accelerator programmes.
In an interaction with Enterprise Story, Kumara Raghavan, India Head of Startup Sales Segment at AWS, says, “We see the potential for innovation as infinite and startups are definitely making the most of it. So there's no dearth of curiosity in using any of these technologies and putting them to use.”
Adobe acquires Bengaluru-based GenAI startup Rephrase.ai
Today, GenAI has........
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