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| Name | India’s New AI Regulation, Explained - Indian Startup News 199 |
| Video Uploader | Video From Backstage with Millionaires |
| Upload Date | This Video Uploaded At 09-03-2024 02:05:36 |
| Video Discription | Notion Dashboard: https://meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450 This week funding:https://meadow-pillow-7fa.notion.site/W9-Q4-FY24-d8152e36a91548aea9e659a7441e9003 Funding chart: https://docs.google.com/spreadsheets/d/10-sWaL38VYz--CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit#gid=0 00:00 India's new AI regulation 03:22 Digital East India Co. 06:01 Zepto Pass is extremely popular 07:29 Flipkart gets into quick commerce 08:35 Ather and BlackBuck IPOs 09:14 Indian funding news India's new AI regulation: India has recently implemented stringent measures to regulate AI development, requiring significant tech companies to seek government permission before deploying their AI models. This move has sparked concerns about stifling innovation in the country. The Ministry of Electronics and Information Technology (Meity) issued an advisory that mandates AI platforms to label their content as AI-generated and warn users about potential unreliability. While initially criticized for hindering innovation, the Minister of State clarified that the advisory only applies to major platforms and excludes startups, specifically targeting untested AI platforms. This shift in policy comes after concerns arose from Google's Gemini providing ambiguous responses, prompting the government to address the unreliability of AI platforms. However, critics argue that such regulations may deter AI growth, potentially leading to a loss of opportunities as companies move to more favorable regulatory environments. Digital East India Co: In another development, Google delisted 10 Indian apps from its Play Store due to non-compliance with its billing policy. The issue revolves around Google's monopoly on billing systems, charging 11% to 30% on transactions, creating financial challenges for Indian apps that could benefit from alternative payment gateways with lower fees. After discussions with Indian government officials, Google agreed to reinstate the apps, granting a 120-day period to find a solution. This incident sheds light on global concerns about Google's monopolistic practices, reminiscent of Epic Games' successful antitrust case against Google in December. Zepto Pass is extremely popular: Zepto, a quick-commerce unicorn, achieved over 1 million subscribers within a week of launching its loyalty program, Zepto Pass. Offering free deliveries and discounts on groceries, Zepto aims to replicate the success seen by Zomato. Flipkart gets into quick commerce: Meanwhile, Flipkart plans to enter the quick commerce market, targeting a $45 billion Total Addressable Market. While entering the market later than competitors like Zepto and Swiggy Instamart, Flipkart's potential acquisition of Dunzo could provide the necessary capabilities to build its quick commerce business. Ather and BlackBuck IPOs: In IPO news, electric scooter maker Ather Energy and logistics startup BlackBuck are reportedly planning their IPOs, with Ather aiming to raise $400 million at a $2 billion valuation. However, these plans are not confirmed, and further details are awaited. Indian funding news: Indian startups raised $137 million this week, a decrease from the previous week. Notable funding rounds include mPokket raising $60 million in debt, IDfy securing $27 million, Rozana receiving $22.5 million, Cardiotrack raising $2 million in pre-series A, and Dubpro.ai securing $500,000 in seed funding. |
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| Tags | bwm | backstage with millionaires | ai | artificial intelligence | india | gemini | google gemini | openai | open ai | krutrim | ola krutrim | krutrim ai |
