After long years of building and evangelizing AI, Andrew Ng has at last founded an investment firm known as the AI Fund. An investment of this magnitude marks a landmark entry into India’s rapidly expanding AI landscape, set to exceed $22 billion by 2027, as a recent report by NASSCOM and BCG has highlighted. The products and startups segment is expected to hold 15-17 percent of this burgeoning market, a share which is equal to that of the financial services sector.
Gurugram-based Jivi incorporates state-of-the-art AI in healthcare delivery. The company’s offerings include tools for potential diagnoses, prescribed treatment, health report production, and automation of administrative work. With such advanced application of AI, Jivi stands at the forefront of lightening the provision of better patient care through greater operational efficiency in the healthcare industry.
While the AI Fund has not explicitly commented on how much is invested into Jivi, or its equity stake, it is a strategic investment which denotes an effort toward strategically bringing transformative technologies into critical markets. A slew of notable investors sponsoring the AI Fund include Sequoia Capital and SoftBank Group, and it has also made investments in several other companies and startups such as Podcastle, the podcast production platform, as well as Octagon AI, the investment research application.
Andrew Ng is a managing general partner at AI Fund. He has been with enormous experience in the world of AI. Prior to joining the board at Amazon in April, he led large-scale projects at Google and Baidu.
This investment cuts across a global trend recognizing the crucial role AI is playing in changing nearly every sector, most especially healthcare. Increasingly relevant, this partnership between the AI Fund and Jivi should spur fundamental healthcare technological change within the country and promote improvements in patient care around the world.
In the light of the fast-growing AI-driven healthcare, Jivi provides an innovative opportunity for both the AI Fund and Indian healthcare stakeholders in general. This partnership is about actually releasing AI’s total potential in health delivery efficiency and effectiveness.
