During a recent conversation with Shereen Bhan of CNBC-TV18, prominent figures in the business discussed the revolutionary influence of artificial intelligence (AI) on startups and diverse industries worldwide. Managing partner at Foster Ventures Priya Ramachandran, partner at z21 Ventures Jyotika Gupta, co-founder of Virtualness Kirthiga Reddy, and co-founder of Atlan Prukalpa Sankar were on the panel.
AI’s Central Role in Venture Capital and Startups
The way that investors find and support creative entrepreneurs has completely changed as a result of the introduction of AI into the venture capital industry. Priya Ramachandran claims that AI is now a crucial element of any business that is being evaluated for funding. “Whether in healthcare or industrial sectors, we prioritise investments that leverage AI, machine learning models (LLMs), and data to revolutionise manufacturing and supply chains,” she said.
Transforming Stagnant Industries with AI
Jyotika Gupta emphasised how AI has the power to upend markets that have historically been static. She made the point that industries that have not seen much innovation in decades, like firefighting apparatus, are prime for breakthroughs led by artificial intelligence. Gupta also underlined the need of tailored AI solutions in the medical field, projecting notable advancements in both mental and physical health.
Building Global Companies with AI
Kirthiga Reddy talked about the emergence of young Indian entrepreneurs who are creating multinational corporations in a globalised society. Virtualness, Reddy’s startup, employs hybrid teams in seven different nations. Cross-border investing and team development, she pointed out, are trends that will not go away since they enable businesses to take advantage of global talent and market prospects.
The Journey of Atlan: Solving Data Team Challenges
Prukalpa Sankar told the history of how Atlan was founded, a company that was inspired by the difficulties data teams encountered. Atlan was first created to address their own issues, but it has since grown dramatically and is now a global partner for leading businesses. Sankar outlined how Atlan’s development and success have been fueled by an awareness of the challenges of data cooperation.
AI’s Impact on Various Sectors
During the discussion, each expert elaborated on the specific sectors where AI is making a significant impact:
- Healthcare: AI is transforming healthcare by enabling personalized treatments and improving patient outcomes. Gupta emphasized the potential for AI to drive augmentation rather than mere automation in healthcare.
- Industrial Sectors: Ramachandran pointed out that AI is revolutionizing manufacturing and supply chains by optimizing processes and improving efficiency.
- Technology and Data: Sankar highlighted how AI is becoming indispensable in data-first companies, enhancing their ability to manage and trust complex data systems.
Global Expansion and Future Prospects
The experts also talked about how crucial it is for firms using AI to expand internationally. Reddy pointed out that Virtualness has acknowledged the enormous potential of the Indian market while strategically concentrating on important markets like the United States and Indonesia. For entrepreneurs hoping to grow and compete globally, this global view is vital.
Sankar went on to say that Atlan’s success has been largely attributed to its worldwide approach. Atlan is a prime example of the new generation of businesses that function without a formal headquarters, leveraging the finest aspects of both Eastern and Western markets. The company has a workforce dispersed throughout 21 countries and a sizable customer base in the US.
Results
Not only is the use of AI in startups and other industries becoming more common, but it is also a fundamental change that is changing the face of international commerce. The perspectives offered by Gupta, Reddy, Sankar, and Ramachandran highlight how AI has the ability to revolutionise several industries by promoting efficiency, creativity, and expansion. AI’s influence on venture capital, healthcare, industry, and data management will surely grow as it develops, opening the door to a new era of technological growth and international cooperation.
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