AI Fund, led by computer scientist Andrew Ng, has made its first investment in India by backing Gurugram-based artificial intelligence (AI) healthcare startup Jivi. The amount of the investment was not disclosed, according to a Reuters report.
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AI-Powered Healthcare Innovations
Jivi uses AI to assist in diagnosing conditions, suggesting treatments, generating health reports, and performing administrative tasks, the fund said in a statement, according to the report. This move comes as India's AI sector is expected to grow to over USD 22 billion by 2027, according to a Nasscom-BCG report released earlier this year. Within this growth, AI-based products and startups are expected to play a significant role, potentially accounting for 15-17 percent of the market.
Backed by Sequoia Capital and SoftBank Group, AI Fund has also invested in the podcast-production platform Podcastle and the investment-research application Octagon AI.
Reportedly, Andrew Ng, managing general partner at AI Fund, who previously led AI projects at Google and Baidu, joined Amazon's board in April.
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Introduces Jivi-RadX-v1
On October 5, Jivi AI Co-Founder and CEO Ankur Jain announced the introduction of Jivi-RadX-v1, Jivi's latest vision-based LLM model. "Built to assist radiologists in making faster, more accurate decisions, Jivi-RadX dives deep into complex image data, delivering sharper insights like never before," Ankur said in a LinkedIn post.
"Jivi-RadX is one of the top-performing models, scoring an impressive 75 percent and surpassing OpenAI's GPT-4 as well as other state-of-the-art models like Microsoft's Llava-Med and Stanford's ChexAgent-8b," he added.
