In 2023, more and more tech companies are focussed on implementing AI into their solutions to enhance efficiency. US-based AI powerhouse OpenAI is currently leading the race when it comes to deploying generative AI. And, this has prompted many technology companies around the world to research and develop AI solutions to break the monopoly. At a recent interaction at the Zoho Path event, Sridhar Vembu, the co-founder and the CEO of Zoho said that his team has been testing various indigenous and open-sourced AI solutions. He asserted that he is optimistic about AI technology. Vembu also expressed his concerns over monopoly in AI technology adding that collaborative efforts need to be directed towards building capable AI solutions in India that could be as good as or even better than GPT-4. And, all this with the support of the government. Vembu, Rajiv Kumar (Chairman, Pahle India Foundation), and Sharad Sharma (co-founder of iSPIRT Foundation) have signed on an open letter to the Government of India requesting it initiate an effort to catch up with the AI developments and prevent any kind of monopoly in AI in India. Vembu recommended setting up an AI public policy with the objective of preventing any kind of monopoly in AI and fostering development of indigenous AI technology. He also said, "there should be a strong regulatory framework around AI with openness and transparency." Vembu said, "The first set of jobs that AI could put a threat to is programming job." He is also optimistic about low-code no-code platforms, where one developer can replace 100 developers with the help of AI. The Princeton University alumnus also cited the recent instance where leading AI scientist Yoshua Bengio, entrepreneur Elon Musk, and other tech pioneers signed open letter seeking to momentarily halt the advancements in AI considering its imminent threat to society. Vembu also said that "AI could be like a power loop, where it could automate a lot of things." He believes that AI could make technology and digital products even more affordable by reducing the cost of production. Currently, Zoho is working on several new AI-specific projects, and Vembu claimed that the company is currently in the third reinvention after the dot-com bubble burst in 2001 and the transformation in cloud technology. The billionaire said that industries should come together to create self-sufficient AI solutions in India.
