Active Stocks
Tue Apr 23 2024 13:27:14
  1. Tata Steel share price
  2. 162.20 0.22%
  1. Bharti Airtel share price
  2. 1,338.50 3.08%
  1. ICICI Bank share price
  2. 1,088.65 0.15%
  1. NTPC share price
  2. 346.10 0.89%
  1. HDFC Bank share price
  2. 1,506.00 -0.42%
Business News/ News / India/  ‘Big announcement’…, Union minister Ashwini Vaishnaw on India's version of ChatGPT
BackBack

‘Big announcement’…, Union minister Ashwini Vaishnaw on India's version of ChatGPT

Vaishnaw also discussed the startup community in India, stating that not a single startup was affected by the Silicon Valley Bank collapse

The global chatbot market is predicted to be worth up to $3.99 billion by 2030, with tech giants like OpenAI, Google, and Snapchat having already launched their chatbots (REUTERS)Premium
The global chatbot market is predicted to be worth up to $3.99 billion by 2030, with tech giants like OpenAI, Google, and Snapchat having already launched their chatbots (REUTERS)

Union minister for electronics and information technology, Ashwini Vaishnaw, hinted at a "big announcement" regarding India's own version of an artificial intelligence (AI) chatbot, similar to ChatGPT, anytime soon. 

“Wait for a few weeks, there will be a big announcement," Vaishnaw said while speaking during the India Global Forum Annual Summit.

The global chatbot market is predicted to be worth up to $3.99 billion by 2030, with tech giants like OpenAI, Google, and Snapchat having already launched their chatbots, and more platforms planning to release their own versions.

Vaishnaw also discussed the startup community in India, stating that not a single startup was affected by the Silicon Valley Bank collapse, as the government ensured immediate action to assist them. 

“To address the crisis, we engaged with the entire startup community and ensured that whatever deposits they want to shift to Indian banks and that entire process was flawlessly executed and not a single startup in India was affected," he said.

He praised India's position as a technology giant, with many global developers eager to partner with Indian startups and entrepreneurs as their technology develops. The minister said, “There was a time when India was a technology consumer only and today the time has come that many global developers would like to have Indian startups and entrepreneurs as their partner as their technology develops."

Vaishnaw also highlighted India's plan to be at the forefront of 6G telecom service. He explained that last year, the Prime Minister set a target for India to be equal to the world in 4G and 5G, but to lead the technology development for 6G. India already has 127 patents for 6G telecom technology, and while 6G tech is 4-6 years away, the time to start development is now so that India can become a leader as the technology matures.

Other Union ministers such as Piyush Goyal, Smriti Irani, Bhupender Yadav, and G20 Sherpa Amitabh Kant also spoke at the event. Vaishnaw called for the involvement of diplomats and business representatives to join India as partners, offering trust and an opportunity to create on a "big scale" within India's booming startup sector community.

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 27 Mar 2023, 04:54 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App