- New company will offer AI talent, services and products to international customers.
- Marketing will commence in the second half of 2024.
- Leans on India’s service-oriented industry.
The billionaire founder of India's biggest e-commerce company Flipkart is entering the AI game. Binny Bansal is aiming to lean on India's service expertise with a new AI startup that will connect English-speaking experts in the country, with international companies.
Company development plan
Headquartered in Singapore, the company is currently in stealth mode but when launched will offer services in the fields of financial services, data science, and analytics. Its goal is to launch and start marketing in the second half of 2024. According to insiders, the company also has plans to expand its target audience to the United States in the future.
Bansal has already hired 15 experts for the venture, most of whom are AI scientists. There are plans to rapidly increase the number of experts. The aim is to provide AI talent, products, and services to enterprise clients, following the business model of outsourcing suppliers such as Tata Consultancy Services Ltd and Infosys Ltd. As the project is not yet public, details of these experts is yet to be disclosed.
Bansal is playing his cards close to his vest regarding the exact products he plans to launch, with an initial focus on the legal and e-commerce industries. The startup is still keeping product details under wraps.
Also read: Amazon invests $4 billion in AI startup anthropic
Binny sold a majority stake in Flipkart to Walmart in 2018 for $16 billion. He later sold his entire stake and began investing in technology startups. He currently holds shares in PhonePe Pvt, a financial technology company under Walmart, and continues to serve as a member of Flipkart’s board of directors.
After the emergence of new tools like OpenAI Inc.’s ChatGPT chatbot, companies around the world are actively seeking to leverage AI. This has led to a significant increase in demand for AI experts, and this is Bansal’s response – to harness the vast population of English-speaking youth in India to create a pool of experts in new AI services.
