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Entrepreneur
26 minutes ago
- Entrepreneur
Is Voice AI Becoming India's Next Digital Backbone?
According to NASSCOM, the Indian voice AI market is projected to reach USD 1.82 billion by 2030 Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Voice AI is quickly becoming the new battleground in shaping the future of human-machine interactions. The recent USD 45 million acquisition of a voice AI startup Play AI by Meta brought renewed attention to the space. But why the Sudden Rush in India? "There's a rush towards voice tech startups because the country's vast linguistic diversity and rising demand for high-quality, real-time voice translation have made voice AI a natural solution," explains Ganesh Gopalan, Co-founder & CEO of Gnani AI. "With the rapid adoption of smartphones and consumers increasingly expecting seamless, human-like interactions, voice is emerging as the preferred interface for digital engagement." According to NASSCOM, the Indian voice AI market is projected to reach USD 1.82 billion by 2030. While India has 22 official languages, it is home to over 400 living languages. English, often assumed to be the digital default, is neither the first spoken nor written language for the majority of Indians. Until now, much of emerging tech has catered only to metro markets and English-speaking audiences. Voice-led AI startups, however, are disrupting that trend. Indian entrepreneurs are now tapping deeper into Tier 2/3 markets, targeting vernacular language speakers and building inclusive solutions for non-English and non-Hindi audiences. Where the action is Gopalan notes that sectors like banking, finance, and insurance (BFSI) have seen the most traction. "Voice AI is being used for customer support, lead qualification, EMI collections, policy renewals, and reminders. This growth ties closely to India's digital inclusion push, enabling businesses to engage a much wider audience in their native languages." India is also becoming a strategic growth market for global Voice AI firms. ElevenLabs, for instance, recorded a 50 per cent growth in usage in India between November and January, making the country its fastest-growing market globally. Siddharth Srinivasan, GMT–India at ElevenLabs, observes, "India was always a market waiting for a solution in this space. We're inherently multilingual, most of us are bilingual or trilingual. The need for high-quality, real-time voice solutions has always existed." Still early days? But is this rush solving meaningful, scalable problems, or are we still in an experimentation phase? Arjun Malhotra, General Partner at Good Capital, believes the sector is at "an interesting middle ground." "In BFSI, voice AI is solving real operational challenges around lending and collections at scale. Companies are successfully reaching lakhs of customers simultaneously. However, the broader ecosystem is still evolving. While enterprise applications have found clear product-market fit in certain use cases, consumer applications remain largely in the discovery phase." From an investor's perspective, technical differentiation is key. "Given the competitive landscape, we evaluate whether startups are building foundational technology or merely implementing existing solutions," Malhotra explains. "Companies that differentiate on the core mechanics of voice AI rather than just the application layer have stronger moats." He also emphasises the importance of domain expertise. "Voice AI requires deep technical expertise combined with domain knowledge. We look for teams that understand both the technology's limitations and the specific market needs they're addressing." The bigger question still remains. Can Voice AI become foundational digital infrastructure? Malhotra thinks the answer depends on the use case. "In enterprise contexts, we're seeing voice AI evolve from a feature (like automated calling) to a platform that can handle complex workflows and multiple touchpoints." The opportunity, he adds, lies in companies that can expand beyond single-use cases and integrate deeply into business workflows. What's next for voice AI in india? Looking ahead, Malhotra sees the next 24 months as pivotal. "Voice AI will likely become deeply embedded in workflows rather than remain a standalone tool. Companies that can demonstrate this workflow integration will command premium valuations." He also foresees the emergence of breakthrough consumer applications such as voice companions, therapy, and coaching tools where Indian startups could potentially create globally competitive products, especially given the market's natural comfort with voice-based interactions. Finally, Malhotra believes we'll see the rise of foundational voice AI infrastructure startups that provide the "picks and shovels" enabling the entire ecosystem.
Yahoo
an hour ago
- Yahoo
Xhaka on his way to Sunderland
Sunderland have agreed a fee worth up to €20million (£13.4m; $23.3m) for the signing of 's . The newly-promoted Premier League club are set to pay Leverkusen €15m up front with a further €5m in potential add-ons, with Xhaka set for a medical in the next 24 to 48 hours. He agreed personal terms with the Stadium of Light side, having had the option to stay in Germany or move elsewhere, including to Saudi Arabia. The 32-year-old was previously tied to Leverkusen until 2028 after joining from Arsenal in 2023. Xhaka has made 99 appearances for the German team and helped them to their first Bundesliga title and DFB-Pokal in 2023/24. He made 49 appearances in all competitions last season, including ten in the Champions League. The Switzerland captain spent seven years at Arsenal and won the FA Cup twice, in 2017 and 2020. He made 297 appearances over the course of his time in north London. Sunderland have already signed six players this summer as they prepare to return to the top flight, but have sold midfielder Jobe Bellingham for £30m to Borussia Dortmund in the same window, as well as confirming the transfer of Tommy Watson to Brighton for £10m. The newly-promoted side have also brought in central midfielders Habib Diarra and Noah Sadiki, wingers Simon Adingra and Chemsdine Talbi, and left-back Reinildo Mandava, while Enzo Le Fee joined the club permanently after spending the second half of last season on loan.
Fast Company
an hour ago
- Fast Company
How AI entrepreneurship and community capital are reshaping economic development for all
The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. BY Listen to this Article More info 0:00 / 7:31 As economic development leaders, we stand at an inflection point. The traditional extractive economy that concentrated wealth in Silicon Valley and major urban centers is giving way to something far more powerful: a regenerative economy that creates value while restoring communities, ecosystems, and human potential. This transformation is gaining traction in rural communities, women-led startups addressing climate change, and businesses owned by individuals of color using AI entrepreneurship to solve challenges legacy institutions have overlooked. The question is not whether it will materialize, but how we'll lead it. Women-led businesses receive only 2.3% of venture capital funding, despite delivering higher returns on investment. Rural entrepreneurs encounter a $20 billion funding deficit compared to their urban counterparts. Businesses owned by Black and brown individuals are more than twice as susceptible to loan denials than white-owned businesses with comparable financial profiles. Nevertheless, these marginalized founders are driving innovation in the sectors that hold the greatest significance for our economic future. Research shows that 28% of Black entrepreneurs are early adopters of new technology, compared to only 20% of non-Black entrepreneurs. Women founders are twice as likely to establish companies focused on sustainability and social impact. Rural startups are pioneering solutions in agriculture technology, renewable energy, and digital health—the core industries of tomorrow's regenerative economy. COMMUNITY CAPITAL EMERGES AS THE NEW COMPETITIVE ADVANTAGE Historical economic development models relied on chasing the next big corporation or tech unicorn. The emerging model recognizes that sustainable economic growth comes from nurturing indigenous entrepreneurial ecosystems and mobilizing community capital—the underutilized assets, networks, and knowledge already present in every community. Community capital manifests in multiple forms: the retired software engineer who becomes a mentor to local startups, or the community bank or investment group that develops new lending products for underserved entrepreneurs. When we activate these assets systematically, we create economic multiplier effects that far exceed traditional attraction strategies. Consider Iowa State University's AI Institute for Resilient Agriculture, which received $20 million in federal funding to develop digital twins of crop plants and farm fields using high-powered computers, robots, and drones. Combined with Iowa's established AgTech Accelerator ecosystem—which connects startups with industry leaders like John Deere, Corteva Agriscience, and regional agricultural cooperatives, the state has created a model for how community assets can be leveraged to drive AI entrepreneurship in agriculture. Companies like Rantizo, which developed drone technology for targeted agricultural spraying, have emerged from these programs to become the first legally authorized drone spraying company in Iowa and are now licensed across 14 states. The secret wasn't importing expertise—it was recognizing and amplifying the innovation capacity that already existed. AI AS THE GREAT EQUALIZER Artificial intelligence (AI) represents perhaps the greatest democratization of entrepreneurial capability in modern history. For the first time, a single founder with a laptop can access computational power that was once the exclusive domain of Fortune 500 companies. This levels the playing field in unprecedented ways. The key insight for leaders is that AI entrepreneurship doesn't require massive infrastructure investments or decades of ecosystem building. It does require strategic support for the development of skills and market access that enable founders to leverage it effectively. For example, the exploration of AI integration into urban farming offers leverageable innovative practices that enhance food security in Black communities. AI introduces new dimensions to small farms and urban agriculture through advances in crop monitoring and resource allocation. Indoor vertical farming uses AI algorithms to analyze light, temperature, nutrient levels, and humidity data. These insights optimize lighting and climate control systems to ensure optimal plant growth in confined spaces, where urban and community farming exist. THE REGENERATIVE ECONOMY IMPERATIVE The regenerative economy actively restores and revitalizes systems beyond sustainability. For economic development leaders, success is measured by ecosystem health, community resilience, and inclusive wealth building, not just job creation and tax revenue. This approach particularly benefits entrepreneurs of necessity, who often start businesses to solve problems in their own communities rather than chase venture capital valuations. When we align economic development incentives with regenerative principles, we unlock innovation that creates both economic returns and social impact. The regenerative economy also recognizes that true economic resilience comes from diversity—diversity of industries, ownership structures, and leadership perspectives. Monocultures are vulnerable, whether in agriculture or economic development. The communities that will thrive in the next economy are those that cultivate entrepreneurial ecosystems as diverse and resilient as natural ecosystems. For those ready to embrace this transformation, five strategic priorities should guide your efforts: Audit your community's assets, including physical infrastructure, financial resources, local talent, and expertise. The regenerative economy relies on community capital, and most communities have more than they think. Develop AI entrepreneurship programming for underrepresented founders. Partner with community organizations to provide technical training, business development support, and market access programs at existing gathering places. Tax increment financing, workforce development funds, and business attraction incentives should prioritize companies that create good jobs, serve community needs, and contribute to long-term ecosystem health. Build bridges between industries and emerging entrepreneurs. Successful initiatives connect established businesses with innovative startups by offering mentorship, pilot programs, and mutually beneficial supply chain relationships. Measure what matters. Track local ownership percentages, supply chain localization, environmental impact, and community wealth building alongside traditional economic indicators. THE MOMENT OF TRUTH The communities that will thrive in the regenerative economy recognize the untapped potential in their own backyards, see diversity as a strength rather than a challenge, and understand that true economic development means building systems that work for everyone. The tools are available. The need is urgent. The opportunity is unprecedented. What we need now is the leadership to make it happen. The super-early-rate deadline for Fast Company's Most Innovative Companies Awards is tonight, July 25, at 11:59 p.m. PT. Apply today.
