Andrew Ng’s fund makes first India investment with AI healthcare firm Jivi | usagoldmines.com

(Reuters) – Pc scientist Andrew Ng-led AI Fund stated on Tuesday it has invested in an Indian synthetic intelligence healthcare agency named Jivi, the fund’s first such funding within the nation.

India’s booming AI phase is predicted to develop greater than double to as much as $22 billion by 2027, in accordance with a Nasscom-BCG report launched earlier this yr. The merchandise and startups class is predicted to account for 15-17% of the market, tying for the very best share together with monetary providers.

Jivi, primarily based out of the northern Indian metropolis of Gurugram, makes use of AI to counsel potential diagnoses and coverings, generate well being studies and carry out administrative duties, the fund stated in an announcement.

The fund didn’t specify how a lot it invested within the startup or how a lot stake it purchased.

Backed by Sequoia Capital and Softbank Group, AI Fund has additionally invested in podcast-production platform Podcastle and investment-research software Octagon AI.

Ng, managing common companion at AI Fund, joined Amazon’s board in April. Beforehand, he led AI initiatives at Alphabet’s Google and Chinese language web search engine Baidu earlier than resigning from each.

(Reporting by Varun Hebbalalu in Bengaluru; Enhancing by Janane Venkatraman)