India's AI market is on track to hit $17 billion by 2027, and the upcoming Global AI Summit 2024 in Hyderabad is set to accelerate this growth through robust government support and collaboration.

HYDERABAD: As the world rapidly advances in Artificial Intelligence (AI), Hyderabad is keeping pace. The Machine Learning and Artificial Intelligence Hub (MATH) at T-Hub has planned several initiatives for the Global AI Summit (GAIS) 2024, scheduled for September 5 and 6 at HIIC, Hyderabad. MATH, launched in March, is a joint effort between the Union government's Department of Science and Technology (DST) and T-Hub. It supports 963 AI-based startups across India, aiming to incubate those developing AI solutions or using AI to tackle various challenges.

Interview with Rahul Paith, CEO of MATH

What will MATH’s role be in the upcoming AI Summit in Hyderabad?

MATH's initiatives include a hackathon with 30 AI-related problem statements. With over 6,000 registrations, we aim to engage at least 15,000 participants, including startups, students, and developers. Additionally, we will host the InnovAtIon Gala, an awards event on August 29 at T-Hub, to identify promising startups for the Pitch Games. Selected startups will present their ideas to venture capitalists and investors after a four-day workshop for investor engagement. Around 40 to 50 booths will showcase the startups' products.

How do you see summits contributing to the projected $17 billion AI market by 2027?

While many AI summits are held in cities like Bangalore, this summit stands out due to its scale and government support. Such events provide a platform for networking, collaboration, and showcasing innovations, all crucial for driving AI market growth. Government backing, both at the state and central levels, is essential for any industry's growth. Just as the IT revolution in the early '90s thrived with government support, AI requires similar encouragement.

Can you elaborate on infrastructure and manufacturing development?

Currently, we rely heavily on imports for AI hardware like GPUs and chips. To become self-sufficient and lead in AI, India needs to develop its own hardware manufacturing capabilities. This will reduce dependency on foreign products, lower costs for startups, and boost innovation. Ensuring that technological advancements are economically friendly is crucial, especially for sectors like agriculture.

What is Telangana’s role in tapping into the AI market?

Telangana is making significant strides in the AI sector. The state government actively promotes AI through various initiatives. Hyderabad's cosmopolitan environment is also a plus. For example, over 50% of the startups at MATH were founded by people not originally from Hyderabad, showcasing the city's inclusive nature.