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How Russian Startups Are Building Businesses on Generative AI

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How Russian Startups Are Building Businesses on Generative AI
Remember how in 2013 many people said it was already too late to buy Bitcoin, and then a few years later it surged tenfold? The same thing could happen with generative AI: it seems like the market is already divided, but in reality, everything is just getting started.

Startups are striving to create unique solutions in their niches built on popular LLMs. There is room in the market — in 2024, according to PitchBook, 885 investment deals were made in the generative AI space.

Deals are being made not only by giants like OpenAI. In 2023, entrepreneur Pavel Belov launched a chatbot for working with neural networks on Telegram just a couple of months after the ChatGPT release. According to the developer, the bot now has 25 million users worldwide with traffic of 1 million DAU.

According to Statista, the Russian GenAI market will grow at 40% per year and exceed $5 billion by 2031.

How the domestic AI market works and what prospects exist for Russian projects — read on the website.

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