Bengaluru, July 25: IT industry’s apex body Nasscom on Thursday partnered Meta (formerly Facebook) to launch the 'Open-Source Generative AI Grand Challenge', aimed at providing opportunities to startups and the developer community to build GenAI solutions.

The Centre for Development of Advanced Computing (C-DAC), under the Ministry of Electronics and IT (MeitY), will be the technology partner and support with computing infrastructure.  For the challenge, Nasscom and Meta are inviting generative AI startups and developers to create impactful solutions in domains such as education, enterprise and e-governance. The winners in each category will get prize money up to Rs 4 lakh and runners-up in each category will get up to Rs 1 lakh each. Meta Removes 63,000 Facebook Accounts of Nigerian Scammers Involved in Sextortion, Takes Safety Steps To Protect Teenagers.

"By empowering developers with open-source tools, we can drive significant socio-economic impact. We look forward to seeing creative solutions that address real-world problems and contribute to the broader AI ecosystem," said Ankit Bose, Head, Nasscom AI.

GenAI is transforming digital landscapes, enhancing efficiency, innovation, and growth and open-source AI tools democratise technology, enabling developers to create advanced solutions with minimal resources, thereby increasing AI awareness and adoption. "Open innovation can further develop India’s AI capabilities while promoting safety and innovation for unlocking economic growth," said Shivnath Thukral, Vice President and Head of Public Policy (India), Meta. Instagram Adding Profile View? Netizens React to Rumour About Meta-Owned Platform Adding Feature To Allow Users To See Who Viewed Their Profile.

Through this initiative, participants will need to provide a proof-of-concept explaining their technology stack and eventually showcase a working demo of their solution. The investment in India’s GenAI startups saw an increase of two times in the first six months of 2024 compared to the second half of 2023.

(The above story first appeared on LatestLY on Jul 25, 2024 07:14 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).