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Leading e-commerce company Flipkart has acquired majority stake in Minivet AI, a company providing AI and machine learning (ML) solutions.
New Delhi. Artificial Intelligence i.e. AI interference is increasing in every sector. Be it health care or online shopping. AI is becoming the backbone of the world of business and technology today. Many big companies are investing in AI. In the coming times, AI is going to be the biggest weapon for growth, competition and innovation of companies. In this series, leading e-commerce company Flipkart has acquired majority stake in Minivet AI, a company providing artificial intelligence and machine learning (ML) solutions.
Walmart-backed Flipkart said on Friday that this deal is a strategic step to invest in and enhance the core capabilities of generative AI. The company has not disclosed the financial details of the deal. The statement said that India’s domestic e-commerce company Flipkart today said that it has signed the necessary papers to acquire a majority stake in Minivet AI, which will provide innovative AI/ML solutions, to be launched in 2024.
What is AI?
Artificial Intelligence means such technology in which machines think, understand and learn like humans. In simple language, AI makes machines so smart that they can take decisions on their own. Like mobile voice assistant, product suggestion in online shopping or giving directions on Google Map, all these are examples of AI. AI learns from data and gets better over time. That is why today the use of AI is increasing everywhere in banking, health, education and business.
