Flipkart Looks To Invest $25 Million in Silicon Valley AI Startups
With Amazon maintaining a stiff competition in the Indian eastward-commerce market, Flipkart is at present looking towards Silicon Valley to ameliorate its technology infrastructure. The homegrown due east-commerce giant plans to invest close to $25 million in at least 1 bogus intelligence (AI) startup, according to an Economical Times report.
With regards to the same, a source aware of the developments has said that the primary aim of this exercise is procuring the latest tech and bringing information technology back to Republic of india. And non only the tech, Flipkart also plans to bring the founders of these acquired companies to introduce deep tech capabilities that don't exist in the state.
Artificial Intelligence is surely one of the hottest trends in the technology ecosystem and Flipkart is at present as well looking to partake in the same. Since the due east-tailer is lagging behind in the tech front when compared to Amazon, this is Flipkart'southward latest attempt at bridging their engineering science gap. It has been working on Project Mira, to ease the online buy feel and get in akin to an offline one, in stealth fashion. Also, Flipkart's co-founder Sachin Bansal had earlier stated that,
"AI, car, also as deep learning technologies will be the focus on the company every bit they pace foot into 2018. He had also added AI and ML-powered solutions will enable them to improve the shopping experience and shorten delivery times."
This seems like an utmost priority for the company equally Flipkart had been stuck in a rut for quite some time. There was not much comeback both on the technology and financial front, with the eastward-commerce platform being cleaved in places and no class of funding. So, it could exist a welcome change to see Flipkart come with a smart product to complement, its existing services.
Its curvation-nemesis Amazon, on the other hand, has been developing make new products to improve its operations like clock-work. It just today integrated the UPI payment option for checkout on the platform, riding the growth moving ridge of Amazon Pay over the past months. It has as well launched its Echo smart speaker in the nation earlier last year to help consumers get comfy with a vox banana in their home.
Source: https://beebom.com/flipkart-invest-25-million-silicon-valley-ai-startups/
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