A notable trend has emerged within the technology sector as several high-ranking executives leave their prestigious positions at major multinational corporations to explore entrepreneurial ventures focused on artificial intelligence (AI) and automation. This shift underscores a growing interest in the applicability of AI across various industries, as these seasoned professionals seek to leverage their extensive experiences in building innovative solutions.
Prominent among these new initiatives is Neysa, an AI cloud venture founded by Sharad Sanghi, the former managing director of NTT India, which is recognized as the largest data centre company in the country. Neysa has attracted investments from prominent venture capital firms such as NTTVC, Z47 (previously known as Matrix Partners India), and Nexus Venture Partners. Sanghi, who previously led NTT’s Global Data Centre business, expressed his frustration at the company's lack of focus on GenAI and cloud technologies, stating, “Unfortunately, for whatever reason, that never happened. And, so, I thought, it’s time for me to do it – maybe we can start this on our own.”
In addition to Neysa, CoreOps.AI has been launched by Rajiv Srivastava, former HP India chief, alongside Rajesh Janey and Rajnish Gupta, who previously held executive roles at EMC-Dell and Zebra Technologies, respectively. CoreOps.AI, currently bootstrapped and headquartered in Noida, has already established partnerships with industry giants SAP and Salesforce. Janey noted the company has recently secured two substantial clients and described the entrepreneurial journey as “exhilarating, exciting and exhausting at the same time.”
Ankur Jain, formerly the chief product officer of BharatPe, has transitioned into the healthcare sector with the establishment of Jivi AI. This new venture, which has garnered backing from Andrew Ng’s esteemed AI fund, is focused on developing a health assistant designed to benefit both patients and doctors. Jain acknowledged the challenges encountered during his transition: “I would say the biggest challenge was a mindset shift. In my first 90 days as a founder, I learned more about myself than in years as a CPO.”
The trend extends to Dale Vaz, who has co-founded Sahi, an AI-driven stock trading platform that employs generative AI for various applications. This increasing shift of executives from traditional tech and finance roles into AI-centric startups illustrates a broader movement aiming to harness advanced technologies for innovative business solutions.
Referring to the local industry landscape, Srivastava remarked, “If you look at India’s tech journey, everyone has either played the labour or the cost game – we really don’t have much innovation coming out. With new tech, especially AI, we are betting on the huge opportunity to create innovative products – and well-rounded companies – out of India."
The emergence of these AI-driven ventures reflects a significant trend in the Indian technology ecosystem, signifying a potential shift towards innovation and the utilisation of advanced technologies to address market needs and challenges. As these industry veterans transition into startups, the forthcoming landscape of AI and automation in business practices may evolve in response to their pioneering efforts.
Source: Noah Wire Services