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The billionaire founder of Flipkart is about to launch a stealth AI startup

Artificial intelligence

billionaire founder of Flipkart

After turning his success in Indian e-commerce into a billion-dollar business, billionaire Binny Bansal is launching an AI-as-a-service startup with a focus on global customers.

People with knowledge of the matter claim that Bansal, who co-founded Flipkart and eventually sold the company to Walmart Inc., has hired 15 experts for the project; most of them are artificial intelligence scientists, and he plans to hire more shortly. The sources, who wished to remain anonymous since the idea is not yet public, stated that he plans to provide corporate clients with AI capabilities, goods, and services, emulating the business model of outsourcing firms like Tata Consultancy Services Ltd. and Infosys Ltd.

The people claim that the company is headquartered in Singapore and will primarily run out of Bengaluru. It intends to launch its products in the next few months while it remains in stealth mode. One of the sources said that it also plans to expand in the United States.

Artificial intelligence (AI) is being used by businesses worldwide, driven by cutting-edge technology such as the ChatGPT chatbot developed by OpenAI Inc. with backing from Microsoft Corp. Consequently, there is a great demand for AI experts. Bansal wants to reach out to the big, young English-speaking population in India in order to train more professionals for new types of AI services.

Even while he is keeping details about his specific product plans confidential, one of the insiders said that Bansal will initially concentrate on the legal and e-commerce industries. In addition to financial services, the company plans to offer data science and analytics services. It intends to introduce products and services and begin selling them in the second half of 2024.

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