People Group founder and Shark Tank India judge Anupam Mittal believes the debate over whether India has won or lost the artificial intelligence race misses the bigger picture. According to him, India’s biggest opportunity does not lie in building foundation AI models but in creating AI-powered products and services that solve real business problems.

In a LinkedIn post, Mittal rejected two common views on India’s AI ambitions. He wrote, “‘India has lost the AI race’ ‘India will dominate AI’ Both make great headlines. Neither is particularly useful.”

He said the reality is far more complex. While India may not own the world’s leading foundation AI models, the next phase of the AI industry will depend on how companies use those models to build products, transform businesses and create value.

“The truth, as a user, reader and investor in AI, is more nuanced. India may not own the foundational models. But as models become abundant, the real battle is shifting elsewhere,” he wrote.

Why does Anupam Mittal believe India can still win in AI?

Mittal argued that AI models are becoming increasingly accessible, reducing the advantage of companies that build them. Instead, he believes businesses that develop practical AI applications for enterprises will emerge as the biggest winners.

To support his view, he cited examples of companies building AI-first businesses in large global markets.

One example was Superleap AI CRM, which aims to disrupt the customer relationship management (CRM) industry. Mittal said the company is competing against Salesforce by offering an AI-native alternative. According to him, the startup has achieved multi-million-dollar annual recurring revenue in less than two years while completing customer sales cycles in around three months.

He also referred to Mitigata, an AI-driven cybersecurity company that combines software products, services and insurance. Mittal said the company has acquired more than 650 clients within three years and expects revenue worth hundreds of crores this year.

Mittal also pointed to India’s traditional IT services industry, which many feared would suffer because of AI. Instead, he said companies are finding new growth opportunities.

“Even Indian IT cos like Tata Consultancy Services, supposedly AI’s first victims, are now seeing nearly 10% of revenue come from AI-led work. While the shape of services will change, AI will actually become the next growth engine,” he wrote.

What is Mittal’s vision for India’s AI industry?

Mittal believes India does not have to compete directly with countries building large language models to become a major AI power. He said that enterprise AI products and AI-enabled services offer a much bigger long-term opportunity for Indian companies.

He also dismissed suggestions that the world is approaching artificial general intelligence or technological singularity anytime soon.

“My take: India doesn’t need to win the model race to be in the AI race & neither is the world close to any Singularity,” he wrote.

Mittal said India’s strengths in enterprise software, IT services and AI implementation could reshape the country’s technology industry over the next decade.

“Our strength in Enterprise AI products & services alone could help take India’s IT industry to ~$1 trillion over the next decade,” he wrote.

Disclaimer: The content in this article is based on a viral social media discussion and is intended for informational and entertainment purposes only. The strategies mentioned are personal to the user and have not been independently verified.