A strategy similar to IT behemoths
Binny Bansal, a co-founder of Flipkart, is reportedly starting a new startup in the artificial intelligence field to serve corporate clients throughout the world. Following a business strategy similar to IT behemoths like TCS and Infosys, the firm is prepared to offer AI knowledge, products, and services to global organizations. To get ready for forthcoming product releases, Binny Bansal has hired a team of 15 professionals, most of whom are AI scientists.
To take advantage of India’s large English-speaking youth population, 40-year-old millionaire Binny Bansal, who co-founded the e-commerce giant Flipkart and earned considerably from selling his part to Walmart Inc., plans to educate AI specialists for creative services in India. This business endeavor is committed to fostering talent and providing services to underserved areas of India, particularly in its smaller cities.
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E-commerce and legal industries
Although the business has not yet released information about its products, it will first focus on the e-commerce and legal industries before branching out into analytics, data science, and financial services. The formal release date for the product is expected to be somewhere in the second half of 2024.
The AI business may have its roots in Bengaluru, but its headquarters will be in Singapore, where Binny Bansal has been headquartered ever since he left Flipkart. Product development is happening covertly in Singapore, with hopes of eventually breaking into the American market.
Binny Bansal and his brother Sanchin Bansal, both of whom attended the Indian Institute of Technology in Delhi, launched Flipkart to compete with Amazon in their own country. In 2018, Binny Bansal, as CEO of Flipkart, oversaw the company’s highly publicized sale to Walmart for USD 16 billion. However, he still serves on the Flipkart board and owns stock in PhonePe, the digital payment business owned by Flipkart. He has also been a big backer of up-and-coming internet companies.
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