Induced AI, a startup created by young tech enthusiasts from India, recently caught the eye of big investors, securing a solid $2.3 million investment. The youthful creators ventured into artificial intelligence (AI) to help businesses automate their tasks more efficiently. Among the investors are the co-founder of OpenAI, Sam Altman, and the venture capital firm, Peak XV.
The funding was announced on October 4, 2023, marking a significant step for Induced AI, a company focused on creating AI automation solutions for enterprises. Their platform has a unique feature – it can turn simple English instructions into a sort of coding language in real-time, making it easier to automate many repetitive tasks usually done by back offices. This feature aims to remove the manual coding burden, making automation more accessible to more people.
Aryan Sharma and Ayush Pathak, the young founders aged 18 and 19, have big dreams. They want to change the way businesses automate their tasks, much like what other firms have done, but in a new and improved way. Their creation uses a version of the Chrome browser to automate various steps of a task by reading what’s on the screen and interacting with the browser just like a human would. Even if a website doesn’t have a particular kind of tech setup (known as API), their platform can still interact with it and carry out complex tasks like two-step logins. This innovative approach could potentially change how businesses approach automation.
Having the support of Sam Altman and Peak XV is a big deal for Induced AI. It’s a strong show of belief in what the young founders are doing. This funding is expected to speed up the development of their AI automation solutions, helping them move closer to their goal of simplifying tasks for businesses. Although they have a small team, they have started working with some small to medium-sized companies, showing that they are on a promising path.
In a nutshell, the $2.3 million investment in Induced AI is a blend of youthful creativity, tech advancement, and the trust of experienced investors. It showcases the potential of AI in making business operations smoother and easier, and how young minds are contributing to this technological evolution.
