Manish Singhal says products that mine data intelligently will become market leaders and so, he’s investing in startups with a focus on AI, machine learning and IoT through his fund pi Ventures
In mid-2016, Manish Singhal and Umakant Soni, both entrepreneurs in previous avatars, set up pi Ventures to invest in early-stage startups that use Artificial Intelligence (AI), machine learning (ML) and the Internet of Things (IoT) to solve problems across a range of sectors. The $30-million (around ₹190 crore) fund, which announced its first close at $13 million in March this year and received another $3 million infusion from the World Bank Group’s International Finance Corporation in May, will look to invest in 18-20 startups in India over the next 3-4 years, according to Singhal. He speaks to Forbes India about his game plan. Edited excerpts:
Q What led you to set up a fund with a focus on AI, ML and IoT?
Our thinking at the start was simple. Data is becoming an integral part of every product. We realised that products of the future will be the ones that are able to utilise intelligence from data very well. Take the case of Facebook. When you use it, it picks up photographs, identifies people and gives you relevant content. Or when you use Google Maps, it is figuring out traffic patterns, where you should go, etc. So products which are using data intelligently will become market leaders.
And the best way to use intelligence in real time is through AI and ML. In conventional, rule based analytics, there are ‘if’ and ‘else’ kind of algorithms—if this happens, then what? But the grey areas that lie between a clear ‘no’ and a clear ‘yes’ are hard to make out. With AI and ML, which try to mimic human perception, the learnings are pattern based, so they do a much better job of plugging those gaps. Basically our initial insight was that data is going to be king, or the new oil as they say. And so, AI and ML form the right hand pump, if you will, to take out that oil.
Diese Geschichte stammt aus der October 13, 2017-Ausgabe von Forbes India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 13, 2017-Ausgabe von Forbes India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
