The India Today AI Summit has commenced with its first session focusing on 'The Era of Applied AI'. Hemant Taneja, CEO of General Catalyst, led a discussion on the practical applications of AI and its potential to simplify lives. He emphasized the importance of distinguishing between two types of AI investment: one focused on research and the development of language models, and the other on applied AI, which translates research into real-life usage.

Taneja pointed out that hundreds of billions of dollars have already been invested in AI, signifying its formidable potential. He stressed that the true narrative revolves around how effectively we can apply AI. Providing real-life examples, he noted significant advancements in coding departments where AI now aids in rapidly developing software. Previously, tasks that would take months and a large team are now achievable with fewer resources in a much shorter timeframe.

The insights shared at the summit may significantly influence future investments and policies surrounding AI in India, potentially positioning the country as a leader in the applied AI domain. As global discussions on technology and innovation continue to evolve, the summit serves as a platform for addressing India's strategic role in harnessing AI effectively for economic and social benefits.