PremjiInvest to Bet an Additional USD 10B In AI Companies Earlier this month, the entity was reported to be eyeing a USD 50B-70B investment in the Australian graphic design platform, Canva. It previously co-led an investment round of USD 53 million in a Series A funding round for Hippocratic AI, a healthcare-focused AI startup

By Paromita Gupta

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Azim Premji's PremjiInvest, an Indian family office, announced it would be investing USD 10B into artificial intelligence companies. It would also be fine-tuning its proprietary AI investment tools, a senior executive at the firm revealed.

According to TK Kurien, managing partner and chief investment officer, PremjiInvest started developing AI tools three years ago and hired 14 AI engineers.

Among its over 140 total investments, Cohesity Inc., Holistic AI, Ikigai, and Pixis are AI startups. Kurien was reported to plan to allow open-source developers to access some of its AI tools.

Focusing on technology and financial services, the firm expects the entire exercise to also give it a bird's eye view of emerging technologies and trends that could help it stay ahead of peers.

Earlier this month, the entity was reported to be eyeing a USD 50B-70B investment in the Australian graphic design platform, Canva. It previously co-led an investment round of USD 53 million in a Series A funding round for Hippocratic AI, a healthcare-focused AI startup.

For 2024, the family office predicts the waning of single model dominance, RLAIF can be as good as RLHF, LLM observability will be a huge challenge in the coming years, and models trained on multiple modalities outperform those trained on a single modality.

Paromita Gupta

BIZ Experiences Staff

Freelancer

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 

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