Abstract On February 11th, the Indian company Svigie, a restaurant aggregation company funded by many venture capitalists, won consecutive victories. Since October 2017, the number of interactions on the company's platform (between consumers, food handlers and restaurants) has increased from 2 billion to 2...

On February 11th, the Indian company Svigie, a restaurant aggregation company funded by many venture capitalists, won consecutive victories. Since October 2017, the number of interactions on the company's platform (between consumers, food deliverers and restaurants) has increased from 2 billion to 40 billion in January 2019. During this time, the number of restaurants on the Swage platform has grown from 12,000 to more than 55,000, the number of operating cities has grown from 7 to 70, and the number of distributors has grown from 15,000 to 120,000. The value of the company based in Bengaluru, India, has also increased significantly – from $700 million in February 2018 to $3.3 billion at the end of the year.

India's "Economic Times" website reported on February 9 that this dazzling growth means that if Svigie, which was just established in 2014, wants to maintain its pace of development, it must be far-sighted and beyond human intervention. Swage is relying on technology, especially artificial intelligence (AI), to help its systems keep up with this rapid growth.

Dale Vas, head of engineering and data science at Switzer, said: "AI is critical to our growth." In the past 12 to 18 months, Sweg has been expanding the team and investing more. Resources.

According to reports, in India, Sweg is not the first technology superstar to bite the AI ​​apple. Previously, several multinational or local companies such as Google, Wal-Mart Labs, Flip Carter, Paytm and OYO have invested in and acquired companies in India to expand their influence in the AI ​​field.

In the past few years, startups and large companies have been conducting relatively small-scale AI experiments. Today, as the series of transactions and internal budgets of start-ups are shifting in this direction, the competitive momentum in this area is accelerating.

According to the report, AI refers to the ability of a computer or system to interpret external data and make decisions based on it. As a research field, although AI has existed since the mid-1950s, the technological advances of the past 10 years have rapidly jumped from laboratory research to mainstream applications.

Several factors have driven the development of AI worldwide, including the proliferation of large-scale data sets, the leap in processing power generated by the emergence of graphics processors, advances in cloud technology, and the increasing advancement of machine learning and self-improvement algorithms.

Startups focused on the AI ​​space are gaining investor support, and companies with strong AI capabilities are beginning to win deals and customers outside of early experimenters.

Gilish Shivani, executive director of YourNear's early venture capital firm YourNest, said: "At least 25% to 30% of the investment proposals we currently receive involve important elements of AI."

There is evidence that big technology companies and the Indian government have given broader support to AI. In July 2017, technology giant Google acquired Harley Labs, which was founded four months ago. However, in addition to Harry Labs' expertise in machine learning and natural language processing, Google is entering the Indian market more deeply.

In March 2018, the Google India branch said in a blog post: "For entrepreneurs, we are launching an India-based accelerator program that focuses on AI/machine learning technology. Our global accelerator The project has supported more than 30 Indian start-ups, six of which focus on innovation in the AI/machine learning arena."

In addition, the Indian Provisional Finance Minister Pyush Goyal announced the establishment of a national artificial intelligence project in the budget. India also plans to establish a national artificial intelligence center.

According to a study by American technology giant Accenture, by 2035, AI is likely to increase the Indian economy by $957 billion.

In terms of the number of AI start-ups, India ranked third in the G20 countries in 2016. Since 2011, these start-ups have grown at a CAGR of 86%, higher than the global average.

However, some limitations of the Indian market may slow this momentum. First, the quality of data in India remains a problem. The diversity of population, language, etc. also limits the ability of consumers to learn about the application at any time. Second, despite some changes, venture capital is still under-invested in Indian start-ups focused on AI compared to competitors such as China and the US.

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