Flipkart's Binny Bansal Plans AI-as-a-Service startup for global market expansion: Report

Flipkart co-founder, Binny Bansal, is gearing up to launch a startup focused on AI-as-a-service, targeting a global clientele, Bloomberg News reported quoting sources. According to the report, a team of 15 experts, primarily AI scientists, the company plans rapid expansion, operating from Bengaluru with its headquarters in Singapore, and future plans to enter the United States.

The startup, currently in stealth mode, aims to unveil its offerings in the coming months, with a rollout of products and services and marketing activities slated for the latter half of 2024, the report said.

However, there has not been any official confirmation regarding the same.

As per the report, Binny Bansal aims to tap into India's English-speaking youth population to cultivate a new generation of AI experts. While specific product details remain undisclosed, the startup's initial focus will be on the legal and e-commerce sectors, with ambitions to extend services to financial services, data science, and analytics.

Prioritising talent development and service delivery from smaller Indian cities, where the cost of living is lower, the AI startup is strategically positioned to take advantage of the growing demand for AI and related services globally. 

The surge in demand for AI-related services is attributed to advancements like ChatGPT, which offers realistic and coherent human-like text generation, translation capabilities, and informative question-answering, becoming a powerful tool for diverse business applications.

Binny Bansal, a billionaire entrepreneur who co-founded Flipkart, aims to replicate the success of outsourcing models like Tata Consultancy Services and Infosys in the AI sector. The venture represents his foray into AI services after achieving success in Indian e-commerce and reflects the broader trend of companies worldwide seeking to harness the power of AI for various applications.