Billionaire Binny Bansal is launching an AI-as-a-service startup that may goal world prospects, increasing to the fast-growing phase after making a fortune in Indian e-commerce.
Bansal, who co-founded on-line retailer Flipkart and offered it to WalmartInc, has employed 15 specialists for the enterprise — principally synthetic intelligence scientists — and plans to shortly add extra, in line with individuals acquainted with the matter.He needs to supply AI expertise, services and products to company prospects, emulating the enterprise mannequin of outsourcing suppliers like Tata Consultancy Companies Ltd. and Infosys Ltd., the individuals mentioned, asking to not be named as the hassle isn’t but public.
The startup’s important operations can be in Bengaluru, and it’s headquartered in Singapore, the place it’s in stealth mode for now and can launch its choices inside months, the individuals mentioned. It additionally plans to increase to the US, one of many individuals mentioned.
Corporations the world over wish to harness AI, inspired by new instruments such because the ChatGPT chatbot from Microsoft Corp.-backed OpenAI Inc. That’s resulted in big demand for AI specialists, and Bansal is trying to faucet India’s huge English-speaking, youthful inhabitants to coach extra specialists for brand spanking new forms of AI providers.
Whereas Bansal is enjoying his playing cards near his vest as to the precise merchandise he plans to supply, he’ll goal the authorized and e-commerce industries first, one of many individuals mentioned. The startup additionally plans to supply providers within the fields of monetary providers and information science and analytics. It goals to roll out services and products and start advertising and marketing within the second half of 2024.
Bansal, 40, declined to remark.
The billionaire moved to Singapore after promoting his Bengaluru-based web firm and now shuttles between the cities. The AI startup will give attention to coaching expertise and providing providers from India’s smaller cities, the place the price of dwelling is decrease.
Bansal and his Flipkart co-founder Sachin Bansal (no relation) graduated from the Indian Institute of Expertise Delhi and labored at Amazon.com Inc. earlier than quitting of their mid-twenties. They established Flipkart as a extra localized on-line retailer for India, impressed by Amazon, practically six years earlier than the Seattle big entered the nation’s retail market. Binny went on to change into the chief working officer of Flipkart, after which its chief government officer, earlier than promoting a majority stake within the firm to Walmart in 2018 for $16 billion.
Binny steadily offered his complete stake in Flipkart to Walmart, and commenced investing in tech startups in recent times. He holds shares in Walmart-owned fintech PhonePe Pvt and stays on the board of Flipkart.
Bansal, who co-founded on-line retailer Flipkart and offered it to WalmartInc, has employed 15 specialists for the enterprise — principally synthetic intelligence scientists — and plans to shortly add extra, in line with individuals acquainted with the matter.He needs to supply AI expertise, services and products to company prospects, emulating the enterprise mannequin of outsourcing suppliers like Tata Consultancy Companies Ltd. and Infosys Ltd., the individuals mentioned, asking to not be named as the hassle isn’t but public.
The startup’s important operations can be in Bengaluru, and it’s headquartered in Singapore, the place it’s in stealth mode for now and can launch its choices inside months, the individuals mentioned. It additionally plans to increase to the US, one of many individuals mentioned.
Corporations the world over wish to harness AI, inspired by new instruments such because the ChatGPT chatbot from Microsoft Corp.-backed OpenAI Inc. That’s resulted in big demand for AI specialists, and Bansal is trying to faucet India’s huge English-speaking, youthful inhabitants to coach extra specialists for brand spanking new forms of AI providers.
Whereas Bansal is enjoying his playing cards near his vest as to the precise merchandise he plans to supply, he’ll goal the authorized and e-commerce industries first, one of many individuals mentioned. The startup additionally plans to supply providers within the fields of monetary providers and information science and analytics. It goals to roll out services and products and start advertising and marketing within the second half of 2024.
Bansal, 40, declined to remark.
The billionaire moved to Singapore after promoting his Bengaluru-based web firm and now shuttles between the cities. The AI startup will give attention to coaching expertise and providing providers from India’s smaller cities, the place the price of dwelling is decrease.
Bansal and his Flipkart co-founder Sachin Bansal (no relation) graduated from the Indian Institute of Expertise Delhi and labored at Amazon.com Inc. earlier than quitting of their mid-twenties. They established Flipkart as a extra localized on-line retailer for India, impressed by Amazon, practically six years earlier than the Seattle big entered the nation’s retail market. Binny went on to change into the chief working officer of Flipkart, after which its chief government officer, earlier than promoting a majority stake within the firm to Walmart in 2018 for $16 billion.
Binny steadily offered his complete stake in Flipkart to Walmart, and commenced investing in tech startups in recent times. He holds shares in Walmart-owned fintech PhonePe Pvt and stays on the board of Flipkart.
