softbank: SoftBank takes Indian portfolio firm executives on Silicon Valley AI tour to study tech adoption

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At a time when the AI (artificial intelligence) arms race is heating up in the US, technology investor SoftBank took its India portfolio companies on a two-day AI tour in Silicon Valley to meet senior officials from AI companies such as Amazon-backed Anthropic, ChatGPT parent OpenAI, and others.

The group of about 20 portfolio founders and senior executives also met executives from firms such as Cohere, Databricks, MosaicML, and Microsoft Azure AI.

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A key theme for attendees was to understand the best way to implement the latest AI tools in their enterprises, across various use cases. The discussions also included topics such as best practices, proprietary vs open source LLMs (large language models), delivering and measuring RoI (return on investment), recent technology breakthroughs, and safety guardrails.

Founders and top executives from Lenskart, Paytm, Meesho, Icertis, Unacademy, Ola Electric, Eruditus, Whatfix, MindTickle, InMobi and Sense HQ were among those who took part in the two-day tour. They included Vidit Aatrey and Sanjeev Barnwal of Meesho, Gaurav Munjal of Unacademy and Samir Bodas of Unacademy.

During the meeting with Open AI executives, the Indian contingent discussed what the best use case for ChatGPT would be in the context of the functions and size of an organisation, according to a person aware of the conversation.

SoftBank chief executive Masayoshi Son, in recent months, has stepped up his efforts to back more AI companies across the world, especially in the US. A report in the Financial Times said on September 28 that Son, OpenAI founder Sam Altman, and former Apple designer Sir Jony Ive are in talks to launch a venture to build the “iPhone of artificial intelligence” in which SoftBank may invest over $1 billion.

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OpenAI is already backed by Microsoft and, according to media reports, the company could be valued at over $80 billion in a new secondary share sale that is being planned. On September 25, Anthropic also announced a mega deal with Amazon to collaborate on advanced generative AI. As part of the agreement, the US ecommerce major will invest up to $4 billion in Anthropic and have a minority ownership position in the company.

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