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Interest in generative AI ventures high: Fireflies AI CEO Krish Ramineni

Economic Times

Economic Times · 1y ago

Interest in generative AI ventures high: Fireflies AI CEO Krish Ramineni

AI meeting assistant company Fireflies.ai's CEO Krish Ramineni revealed plans to expand their transcription offering with generative technology. The company may seek funding early next year to support its growth. Fireflies.ai provides transcription, summarization, and analysis of voice conversations. Ramineni highlighted the interest in generative AI startups and their focus on creating work assistants. He emphasized ethical AI implementation and data privacy, offering private storage for users. Ramineni urged upskilling and developing soft skills to counter AI's impact on jobs. The San Francisco-based company, launched in January 2020, has raised $19 million and operates globally.

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TCS Reshapes AI & Cloud Division for Growth Surge; Krishna Mohan to Wheel Cloud Operations

StartupTalky

StartupTalky · 1m ago

TCS Reshapes AI & Cloud Division for Growth Surge; Krishna Mohan to Wheel Cloud Operations

Tata Consultancy Services (TCS) has reorganized its AI and Cloud division into two separate business units to enhance growth in the AI cloud industry. Krishna Mohan will lead the cloud operations, while Satish Byravan and Ashok Krish will head data and AI globally. The division aims to leverage generative AI and cloud computing for increased business value. TCS is focusing on hiring AI specialists and retraining existing staff to exploit untapped AI and cloud market potentials.

DD Kisan's 2 AI News Anchors Set To Debut On May 26

Inc42 · 1y ago

DD Kisan's 2 AI News Anchors Set To Debut On May 26

Two AI anchors, named AI Krish and AI Bhoomi, have been launched in India to deliver farmer-centric news in 50 languages. They will provide vital information about agricultural research, weather updates, and government initiatives. The use of AI in various industries, including agriculture, is expected to continue growing in India, with the estimated market size reaching $17 billion by 2030.

With enterprise solutions, Ema AI is making space for itself in the crowded Gen AI market

YourStory

YourStory · 1y ago

With enterprise solutions, Ema AI is making space for itself in the crowded Gen AI market

Ema Unlimited, a one-year-old enterprise AI solutions provider, has raised $25 million in funding from investors including Accel and Prosus Ventures. The company aims to streamline tasks and accelerate development processes through its Generative AI technology. Ema recently launched its Universal AI Employee, which can take on any role within an enterprise and imitate human employees. The market for generative AI in enterprises is projected to reach $1.3 trillion by 2032. Despite the crowded market, Ema has received backing from high-profile investors and has onboarded clients such as TrueLayer and Moneyview.

Recogni Raises $102M in Series C Funding

Finsmes · 1y ago

Recogni Raises $102M in Series C Funding

San Jose-based AI computing company, Recogni, has secured $102 million in Series C funding. The round was led by Celesta Capital and GreatPoint Ventures, with participation from existing investors such as Mayfield, DNS Capital, BMW i Ventures, and SW Mobility Fund. The funds will be used to further develop Recogni's AI inference solutions, with a focus on improving performance and efficiency while maintaining low cost. Recogni specializes in high compute, low power, and scalable AI solutions for Generative AI and autonomous platforms. The company also has an office in Munich, Germany.

Apple needs its big AI moment

Business Insider

Business Insider · 1y ago

Apple needs its big AI moment

Apple's upcoming Worldwide Developers Conference (WWDC) in June is highly anticipated, but the lack of a big generative AI announcement so far is noticeable. Other tech giants like OpenAI, Microsoft, and Google have recently showcased their advancements in artificial intelligence. Apple's CEO Tim Cook mentioned "big opportunities" for generative AI, and there are speculations of potential partnerships with OpenAI and Google. Despite being late to the AI race, analysts believe Apple's strong consumer base and seamless product ecosystem could still give them an advantage. The WWDC will be crucial for Apple to address AI and retain investor interest.

ChatGPT effect: Coursera sees signups for AI courses every minute in 2023

Economic Times

Economic Times · 1y ago

ChatGPT effect: Coursera sees signups for AI courses every minute in 2023

According to Coursera CEO Jeff Maggioncalda, the platform has been adding a new user every minute to its artificial intelligence courses in 2023. This surge in signups indicates a growing interest in upskilling to tap into the potential of generative AI. Coursera aims to offer AI courses in collaboration with frontrunners like OpenAI and Google's DeepMind. The company currently offers over 800 AI courses and provides personalized tutoring through its AI assistant called "Coach."

AI startup Dream raises $100 million at $1.1 billion valuation

Economic Times

Economic Times · 4m ago

AI startup Dream raises $100 million at $1.1 billion valuation

AI security company Dream raised $100 million in a funding round led by Bain Capital Ventures, reaching a valuation of $1.1 billion. Additional investors included Group 11, Tru Arrow, Tau Capital, and Aleph. Despite a subdued venture capital market, investor interest in artificial intelligence remains high as businesses strive to implement AI-driven efficiencies.

OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Economic Times

Economic Times · 7m ago

OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Softbank is set to acquire shares worth $1.5 billion from OpenAI employees, allowing the Japanese tech conglomerate to increase its stake in the AI company. Employees have the opportunity to liquidate their shares, with Softbank's founder and CEO Masayoshi Son driving the deal. Son has shown a keen interest in the AI sector and is focused on backing valuable private players in the space. This move reflects Softbank's strategy to deploy capital into businesses with high cash requirements. The generative AI market is predicted to reach $1 trillion in revenue over the next decade, with OpenAI's rivals, such as Anthropic and Google, ramping up their efforts. Softbank's India portfolio already boasts successful firms like FirstCry, Ola Electric, Swiggy, and Unicommerce.

Visa launches $100 million venture fund for generative AI startups

Economic Times

Economic Times · 1y ago

Visa launches $100 million venture fund for generative AI startups

Payments processor Visa has launched a $100 million venture fund for generative AI startups. The fund aims to support and invest in companies leveraging generative AI technology, which creates new content based on past data. Visa joins other major investors, including Microsoft and Google, who have shown interest in the AI sector this year. The company believes that generative AI has the potential to significantly impact the way commerce is conducted.

ChatGPT-owner OpenAI skyrockets in valuation amid AI gold rush

Livemint

Livemint · 1y ago

ChatGPT-owner OpenAI skyrockets in valuation amid AI gold rush

San Francisco-based tech firm OpenAI is reportedly discussing the sale of existing shares that could potentially increase its valuation to $80-90 billion. This surge in valuation reflects the growing interest in artificial intelligence (AI) investments, positioning OpenAI as one of the most valuable privately-held companies in the world. OpenAI's generative AI technology, ChatGPT, has gained attention for its ability to generate human-like text, contributing to the hype surrounding AI ventures in recent months. The company has also announced new voice and image capabilities for ChatGPT, further fueling the AI race among global tech giants.

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