Indian Tech Tycoon Azim Premji's Fund's Mega $10 Billion Bet On AI Explained

The largest Indian family office that manages over $10 billion for software, tycoon Azeem Premji will invest more money into artificial intelligence companies while fine tuning its proprietary AI investment tools. You are that right, Premji Invest, among the first large Indian asset managers will use AI tools in the private equity space. And will work on AI, called modal for its public market bets too. This was highlighted by TK Korean Range invests managing partner and chief investment officer in his first interview after taking the role in 2017. Investment firms worldwide, including BlackRock and SoftBank are relying on AI to analyze data streams in real time to clean market intelligence and are looking to invest further in the sector. Green Gene W started developing AI tools three years ago and hired 14 AI engineers, according to Korean. At the same time, the investment arm started backing firms venturing into the nascent technology space. Cohesity Incorporation, a data management software company, Holistic AI and enterprise software based in London, Ikigai, Lamps, Signified and Pixis are among firms in the sector that Ranging Invest had bagged so far. As per Korean, tech and financial services will be the top sectors in which branching invest will be betting on in private markets. In India, the other two sectors in which the firm invests are consumer and healthcare. In the US, though, the firm focuses its investments on healthcare and technology sectors, Azim Premji, the exclusive billionaire founder of Wipro, established the family office as a perpetual investment vehicle in 2006 to generate profits to support his philanthropic individuals. The offices assets are allocated as private investments, publicly traded equities and investments into other funds. As per Queen, the 18 year Old Firm has seen a fourfold surge in assets under management in the last eight years. What do you make out of this entire development? Do you think the time of artificial intelligence has come and all the big ticket founders and their organizations are rallying behind the changing technology? Please let us know in the comments section and stay tuned to Live Mint for more such updates.