PremjiInvest, private equity funds under the leadership of Azim Premji, has declared that it will inject the capital into the artificial intelligence (AI) companies. Being a manager of a personal portfolio that is approximately $10 billion, the firm aims to expand the extent of its AI investment activities while at the same time honing its in-house AI investment tools.
TK Kurien, the managing partner, and chief investment officer of the firm, divulged that the company is moving AI tools beyond private equity into public market investments. In line with a report from Bloomberg, it is disclosed that the organization is planning to get more investment in AI technologies.
Several world-famous investment institutions, amongst them BlackRock Inc. and SoftBank Group Corp, for example, are creating new AI capacities to gather information from real-time data streams and make valuable investment decisions based on their analysis. Large companies are striving for growth in this sphere and increase their expenditures. Humanization: Three years ago, AI technology development was launched by AI Invest following which a team of 14 excellent AI engineers was plucked apart from other companies. At the same time, they have been actively promoting companies that move into the AI environment.
PremjiInvest has been the lead investor in a diversified number of startups including Cohesity Inc., Holistic AI, Ikigai and Pixis which are all under the umbrella of data management and enterprise software. He is set to make the tools which certain AI use to be free for developers to use via open sourcing. The fund’s developers are presently building tools to ameliorate the prosecuting system in India and to assist the governments in the provision of services in a more efficient manner by AI-based solutions.
For more than 16 years Kurien at the operational helm of Wipro, he has now shifted his attention to the US to seek out opportunities to invest in the technology sector. Towards start-ups that a technology department inventing could be conveniently converged with India market, he has mainly focused.
