Oct 8 (Reuters) - Computer scientist Andrew Ng-led AI
Fund said on Tuesday it has invested in an Indian artificial
intelligence healthcare firm named Jivi, the fund's first such
investment in the country.
India's booming AI segment is expected to grow more than
double to up to $22 billion by 2027, according to a Nasscom-BCG
report released earlier this year. The products and startups
category is expected to account for 15-17% of the market, tying
for the highest share along with financial services.
Jivi, based out of the northern Indian city of Gurugram,
uses AI to suggest potential diagnoses and treatments, generate
health reports and perform administrative tasks, the fund said
in a statement.
The fund did not specify how much it invested in the startup
or how much stake it bought.
Backed by Sequoia Capital and Softbank Group, AI Fund has
also invested in podcast-production platform Podcastle and
investment-research application Octagon AI.
Ng, managing general partner at AI Fund, joined Amazon's ( AMZN )
board in April. Previously, he led AI projects at
Alphabet's Google and Chinese internet search engine Baidu
before resigning from both.