After the advent of LLMs and ChatGPT, there are huge opportunities in generative AI space. Big corporates and startups are trying to take advantage of these opportunities. The generative AI market between 2021 and 2023 and the generative AI startups in India have doubled. The market will show an annual growth rate (CAGR) of 27.66 per cent between 2023 and 2030.

NeuralGarage is an AI startup. It operates in audio-visual (AV) space. It changes the lip and jaw movements visually using audio as a controller. It is a studio quality change. A TV commercial shot in one language (say Hindi) can be recreated into another video which looks as if it has been shot into that language (say Tamil). Thus, one can create multiple videos by shooting just one video with an actor/model. Their client list includes brands such as Amazon, Britannia, Coca Cola, Dream 11, HP, Ultra- Tech Cements, Eno and Microsoft.

This startup has also started a voice cloning service. The voice of a dubbing artist can be changed to the voice of a celebrity, another actor or model.

Neuropixel-AI is a startup that automates the apparel cataloguing process. It can generate synthetic models and improve virtual try-on experiences.

A chatbot like ChatGPT is Gupshup. It has launched a bot building tool — Autobot Builder based on GPT-3. The company built Tia, for Tata Capital to bring contextual and multi-lingual assistance to customers.

Startup companies help the legacy companies by offering generative AI tools that seamlessly integrate with their existing tech stack. Co-rover offers virtual assistants that streamline interactions. At the same time, they do product recommendations, help transaction processing and address customer concerns.

Generative AI facilitates the recruitment and selection function of HR. There are tools such as AI Screening and AI Interviews. These make most suitable candidates move forward by evaluating multiple attributes.

Gen AI solutions are offered to financial institutions. There are personalized recommendations and conversational commerce. These make available the suitable financial services to the customers by taking into consideration the context and the needs.

The pricing model followed are pay-as-you-go or subscription. In future, there could be revenue generation from customization and training.