Former Tech M India biz head to set up AI startup, plans initial investment of up to Rs 80 cr

Former Tech M India biz head to set up AI startup, plans initial investment of up to Rs 80 cr

Jagdish Mitra, formerly the head of Tech Mahindra’s India business, has launched an AI startup with an initial proposed investment of Rs 65-80 crore. The startup is expected to commence operations within the next three months. “We plan to engage customers within 8-12 months, with an initial investment of USD 8-10 million,” Mitra, a candidate for the Tech Mahindra CEO position following CP Gurnani’s resignation, informed PTI.

Mitra emphasized a shift from cost-driven to value-driven propositions in AI, stating, “The cost advantage driven by manpower will be significantly affected. We need to prioritize values over costs.”

The startup will focus on manufacturing, retail, and sportstech sectors, operating from both the US and India. Although not revealing the company’s name, Mitra indicated a focus on developing efficient and cost-effective AI solutions rather than complex chatGPT models.

We aim to create short language models and deliver value through factory output,” Mitra explained, highlighting the importance of AI solutions contributing directly to operational outcomes.

Mitra emphasized enhancing productivity through AI across industries, emphasizing that the future lies in leveraging AI for value addition and productivity enhancement rather than solely reducing development costs.

Our go-to-market strategy will target SAAS and firms with less than USD 2 billion in revenue,” Mitra added, stressing a practical approach to integrating AI for productivity gains rather than challenging existing methods.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Sign Up for CXO Digital Pulse Newsletters

Sign Up for CXO Digital Pulse Newsletters to Download the Research Report

Sign Up for CXO Digital Pulse Newsletters to Download the Coffee Table Book

Sign Up for CXO Digital Pulse Newsletters to Download the Vision 2023 Research Report

Download 8 Key Insights for Manufacturing for 2023 Report

Sign Up for CISO Handbook 2023

Download India’s Cybersecurity Outlook 2023 Report

Unlock Exclusive Insights: Access the article