New Delhi: Former Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore.
The startup is likely to begin operations in the next three months.
"We will start going to customers in 8-12 months. Initially, we will invest US$8-10 million," said Mitra, one of the contenders for the Tech Mahindra CE post after CP Gurnani resigned.
“The cost arbitrage factor, driven by manpower, is going to be severely impacted.It will be driven by values. We need to move from a cost-driven proposition to a value-driven proposition.
"We are going to focus on the value proposition. Our company will start operations within a quarter," said Mitra, who exited Tech Mahindra earlier this month.
Without disclosing the name of the company, Mitra said the company will focus on manufacturing, retail and sportstech and will operate from the US as well as India.“Not everyone will develop Chatji models. It will cost huge amounts of money. Our focus will be on providing value in short language models and factor outputs.
“There must be a stake in the value of the outcome achieved by AI models in factory output. The future of the tech industry is not about the cost of resources developing AI models, but rather it has to be based on the value they deliver."Mitra said.
He said his company would consider using AI to increase productivity.
“I have no problem if a coder is using AI. I don't want to challenge his intelligence, but want to focus on increasing productivity. Every industry will use AI for value addition and improving productivity. My market strategy will be with SAA."Software as a Service) and companies with revenues of less than US$2 billion, Mitra said.
The startup is likely to begin operations in the next three months.
"We will start going to customers in 8-12 months. Initially, we will invest US$8-10 million," said Mitra, one of the contenders for the Tech Mahindra CE post after CP Gurnani resigned.
“The cost arbitrage factor, driven by manpower, is going to be severely impacted.It will be driven by values. We need to move from a cost-driven proposition to a value-driven proposition.
"We are going to focus on the value proposition. Our company will start operations within a quarter," said Mitra, who exited Tech Mahindra earlier this month.
Without disclosing the name of the company, Mitra said the company will focus on manufacturing, retail and sportstech and will operate from the US as well as India.“Not everyone will develop Chatji models. It will cost huge amounts of money. Our focus will be on providing value in short language models and factor outputs.
“There must be a stake in the value of the outcome achieved by AI models in factory output. The future of the tech industry is not about the cost of resources developing AI models, but rather it has to be based on the value they deliver."Mitra said.
He said his company would consider using AI to increase productivity.
“I have no problem if a coder is using AI. I don't want to challenge his intelligence, but want to focus on increasing productivity. Every industry will use AI for value addition and improving productivity. My market strategy will be with SAA."Software as a Service) and companies with revenues of less than US$2 billion, Mitra said.
