Billionaire Binny Bansal, the co-founder of Flipkart, is set to launch a new startup focused on artificial intelligence (AI) services. After his success in the Indian e-commerce industry, Bansal aims to target global customers with his venture.
To kickstart the AI-as-a-service startup, Bansal has already hired 15 experts, primarily AI scientists. He plans to rapidly expand the team in the near future. The startup aims to provide AI talent, products, and services to corporate clients, following the business model of outsourcing providers like Tata Consultancy Services and Infosys.
Based in Bengaluru, the startup is currently operating in stealth mode with its headquarters in Singapore. However, it plans to launch its offerings within a few months. Additionally, there are plans to expand into the US market.
The demand for AI specialists is growing worldwide, with companies seeking to leverage AI tools like Microsoft-backed OpenAI’s ChatGPT chatbot. Bansal intends to tap into India’s large English-speaking and youthful population to train more experts for new AI services.
While the exact details of the startup’s offerings are still undisclosed, it is expected to initially target the legal and e-commerce industries. The venture also plans to venture into financial services, data science, and analytics. The aim is to roll out products and services and commence marketing activities in the second half of 2024.
Bansal, who now splits his time between Singapore and Bengaluru, declined to comment on the matter. The AI startup will focus on training talent and providing services from smaller cities in India, where the cost of living is lower.
Following his sale of Flipkart to Walmart, Bansal has been investing in tech startups. He currently holds shares in Walmart-owned fintech PhonePe Pvt and remains on the board of Flipkart.
(Note: This article is based on a syndicated feed and has not been edited by NDTV staff.)
