Pranav Mistry, founder of Silicon Valley-based deep-tech startup Two Platforms Inc., said India’s history of being a software services powerhouse has already given the country the tools to become a superpower in artificial intelligence (AI) development.
“AI is synonymous with software and India is already a superpower in software. I don’t think there is any software company in India right now that doesn’t use Machine Learning (ML) models or training. This is the next chapter of the software industry,” emphasized the computer scientist known for his inventions, including the gesture-based wearable computer technology called Sixth Sense, while delivering the concluding keynote address at the Mint AI Summit.
Two Platforms Inc. will open an office in Mumbai and hire local talent, Mistry said.
The company had received an investment of $15 million from Mukesh Ambani-led Jio Platforms in February this year. Mistry said that Jio brings a strong user base and understanding of the Indian market. This will provide the right channel to experiment with new concepts.
Mistry also called for a more open-minded approach to data privacy. He added that there are already algorithms in the industry that can train ML programs even when the data is encrypted.
“Imagine the potential of this. We don’t have to worry about whether a company is looking at our data or training ML models on the data, or whether data from India is living in India,” Mistry said.
However, they agreed that data generated in India must remain in India, which is mandated by India’s upcoming data protection laws.
Mistry said that if such data could be encrypted and used for research, it “could benefit the whole world and our systems would become much better vice versa”.
“I don’t think we should limit our understanding of AI. When I was in school, AI was taught as statistical reasoning,” Mistry said.
“I think there are 99% more to explore before AI can be understood. Different approaches are needed,” he said.