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AI has been the talk of the town since its launch. Prominent companies are investing in it and the big names are adding day by day to the list. The latest and recent one is PremjiInvest. The largest Indian family office managing over $10 billion for software tycoon Azim Premji, is all set to invest more in artificial intelligence (AI) companies while enhancing its own AI investment tools.
What Officials Said?
Years back, in 2017, while assuming the role TK Kurien, the managing partner and chief investment officer talked about the plan in his first interview.
He revealed that the company is doubling down on AI investments. The aim behind it is to refine its proprietary AI tools for both private equity and public market investments.
What Is The Development Till Date?
PremjiInvest, known for its early adoption of AI tools in the private equity sector, began developing AI tools three years ago and has since hired 14 AI engineers.
The firm’s AI initiatives have already yielded “exponential returns,” according to Kurien. The AI quant model being developed will aid the firm in making informed decisions in the public market as well.
How PremjiInvest Utilising AI?
AI has enabled PremjiInvest to analyse over 10,000 companies globally across 600 parameters. This facilitates the identification of investment opportunities.
Insights Into Emerging Technologies And Trends
Kurien emphasized that this process also provides valuable insights into emerging technologies and trends. As a result, it is beneficial in giving the firm a competitive edge.
Which Companies Are Supported By PremjiInvest?
Among the AI-backed ventures supported by PremjiInvest are Cohesity Inc., a data-management software company, and Holistic AI, an enterprise software business based in London.
When Was PremjiInvest Established?
PremjiInvest, established in 2006 by Azim Premji as a perpetual investment vehicle, channels profits to support philanthropic endeavors in India.
Kurien, who brings over 16 years of experience from Wipro, is now exploring investment opportunities in the US to bring cutting-edge technologies to India.
