Micromax Invests In Artificial Intelligence Startup One Labs


Micromax Informatics on 19 March had announced its investment in consumer technology and Artificial Intelligence (AI) startup One Labs, reported The Times of India


The product of One Labs will serve as a platform to access apps across multiple genres from food, shopping, travel, deals, cabs, news, recharge, games and more from a single app.

inOne’ will be pre-embedded in Micromax devices. It will further augment the features available to users on its Around platform.

Vikas Jain, co-founder, Micromax Informatics, said,

“Given the fact that, artificial intelligence is the future of device ecosystem, we look forward to seeing how the partnership with One Labs will enable us to enhance user experience even further.”

Jain has explained that Micromax, strives to bring about new innovations through software and include services that would add a layer to the device ecosystem.

The needs and demands of the consumers are given the utmost priority at Micromax. Hence, they are always interested to come up with products and services that give the customers access to the latest technology that eventually becomes an extension of their lifestyles.

Rahul Gupta, the CEO, One Labs, said,

“We are proud to be working Micromax to bring over 100 million Micromax consumers closer to our compelling platform. While phone hardware is getting smarter and more efficient, we wanted to make apps smarter.”

Gupta thinks that in the coming years, as mobiles replaced pagers, all in one app like inOne will replace the need to download separate apps for different use cases.

What is Artificial Intelligence?

The term A.I. was coined in the 1950s although there have been past boomlets about this.

Improvements in computing power have brought about a revolution in AI in the past five years.

Alphabet, Amazon, Apple, Facebook, and Microsoft are all investing heavily in AI.

AI can be defined as the capability of a machine to imitate intelligent human behavior – especially that of the fairly unique human trait of intelligence.

However, this AI can be used to perform a lot of activities from finding the shortest distance from A to B to detecting a cancerous cell in a collection of thousands of slide photos. 

AI-Based Startups in India

The AI sector picked up by 100% in 2017 in terms of deals with about $87.85 Mn was raised across 58 deals.Bengaluru is the major breeding hubs of all the AI startups.

In 2017, the biggest amount of funding raised by an Indian AI startup was bagged by Big Data startup Qubole that raised $25 Mn in a funding round led by Singtel Innov8, Harmony Partners among others. Next was customer data analytics software company Flytxt that raised about $11 Mn funding from DAH Beteiligungs GmbH.

Reports and analysis being carried out have proved that AI is going to be the next big thing and will be responsible for fostering the startup ecosystem in India.

Also Read: Apple Now Planning To Go Big On Artificial Intelligence!