A MASSIVE IMPACT On AI Startups? $10 billion will be invested in artificial intelligence by PremjiInvest

Since its introduction, AI has been the talk of the town. Reputable businesses are investing in it, and well-known brands are constantly added to the list. PremjiInvest is the most current and up-to-date. The biggest family office in India, which looks after software billionaire Azim Premji’s over $10 billion in assets, plans to expand its investments in artificial intelligence (AI) startups and improve its AI investing capabilities.

What Did Officials Say?
In his first interview after taking on the position in 2017, TK Kurien, the managing partner and chief investment officer, discussed the approach.
He said that the business is increasing its investments in AI. Its objective is to improve its in-house AI technologies for investing in the public and private markets.

How has the development progressed thus far?
Three years ago, PremjiInvest, a private equity firm renowned for using AI tools ahead of its peers, started creating AI tools. Since then, it has recruited fourteen AI developers.

AI efforts at the company have already produced “exponential returns,” claims Kurien. Additionally, the AI quant model in development will help the company make wise selections in the open market.

How Does PremjiInvest Make Use of AI?
PremjiInvest is now able to analyze over 10,000 firms worldwide based on 600 characteristics, thanks to AI. This makes it easier to find investment possibilities.

Perspectives On New Technologies And Trends
Kurien stressed that this procedure offers insightful information on new trends and technology as well. It thus helps to give the company a competitive advantage.

Which Businesses Does PremjiInvest Support?
Cohesity Inc., a provider of data management software, and Holistic AI, an enterprise software firm with its headquarters in London, are two of PremjiInvest’s AI-backed companies.

When did PremjiInvest come into being?
PremjiInvest is a permanent investment vehicle that Azim Premji founded in 2006. It directs revenues to assist charitable projects around India.

With over 16 years of expertise from Wipro, Kurien is now looking at US investment options to provide cutting edge technology to India.