Binny Bansal to launch global AI-as-a-service startup
The company, which is currently operating in stealth mode, will provide AI talent, products, and services to a global corporate clientele, mirroring the outsourcing business model exemplified by companies like Tata Consultancy Services and Infosys.
co-founder Binny Bansal is reportedly set to launch a startup that will offer AI-as-a-service to global customers.
Bansal has brought on board a team of 15 experts, predominantly AI scientists; plans for rapid expansion are in the pipeline, said a report by Bloomberg, citing people familiar with the matter.
The company will provide AI talent, products, and services to a global corporate clientele, on the lines of the outsourcing business model exemplified by companies such as Tata Consultancy Services and Infosys.
The primary operations will be in Bengaluru, while the headquarters will be in Singapore. There are also plans to expand to the United States.
The startup is currently operating in stealth mode and is expected to unveil its offerings in the coming months, said the report. The product and service rollout and the marketing activities are slated for the latter half of 2024.
Bansal is actively seeking to leverage India's extensive English-speaking youth population to cultivate a new cadre of experts for AI services. While he is discreet about the specific nature of the products he intends to introduce, the report said his initial targets will be the legal and e-commerce sectors. The startup has also set its sights on financial services, data science, and analytics.
The AI startup will prioritise talent development and service delivery from India's smaller cities where the cost of living is comparatively lower, said the report.
The advent of ChatGPT has sparked a boom in AI and AI-related services. With its ability to generate realistic and coherent human-like text, translate multiple languages, and answer questions in an informative way, ChatGPT has become a powerful tool for a wide range of business applications.
Several companies are using ChatGPT to improve customer service, automate tasks, and generate insights. Companies are also looking for different ways to implement AI into their businesses. Hence the demand for AI-related services is expected to grow rapidly in the coming years.
Edited by Swetha Kannan