The South Asian Times

21 November 2019 00:09 AM

Two Indian-origin persons in Fortunes most influential 'Under 40' list

New York: Two Indian-origin persons have been named by American magazine Fortune in its annual list of 40 most influential and inspiring young people in business under the age of 40.

Intel's Vice President of artificial intelligence software and the AI lab Arjun Bansal and fashion platform Zilingo CEO and co-founder Ankiti Bose make it to Fortune's 2019 ''40 Under 40'' list, the annual selection of the most influential young people in the business.

Bansal, 35, as vice president of artificial intelligence software and research at semiconductor giant Intel, has a lot on his plate, the magazine said.

Bansal's team of nearly 100 workers, scattered throughout the US, Israel, and Poland work on AI technologies like reinforcement learning and natural-language processing, all intended to help keep Intel's silicon chips working seamlessly with the latest AI software, it said.

One of Intel's key AI projects involve specialized computer chips developed by Nervana, the startup co-founded by Bansal and acquired by the chip giant in 2016 in a deal reportedly worth over $350 million, the report said.

Bose, 27, launched the four-year-old Singapore-based startup after visiting Bangkok's Chatuchak market and realizing its merchants had no easy way to sell their goods online, Fortune said.

"What started as an aggregator of small fashion retailers has since expanded into business-to-business offerings, such as supply-chain tools, and has tapped into Southeast Asia's booming Internet connectivity and smartphone adoption," it said.

The company's latest round of funding in February - led by Sequoia Capital and Temasek Holdings and raising $226 million - valued the firm with 600 employees across eight countries at $970 million, putting it within a rounding error of unicornship.

"Just 10 percent of the world's venture capital-backed startups worth $1 billion had a female founder as of last year. Bose...is set to join that too-exclusive club," the publication said.

Update: 19 Oct, 2019

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