InterGlobe, Assago set up AI business venture AIonONS; eyes partnerships
It will offer various AI-powered specialised products and technologies, including AI custom solutions, industry-specific products and data insight. Photo: Bloomberg
Rahul Bhatia-led diversified InterGlobe Enterprises has partnered with technology veteran C P Gurnani’s Assago to launch an artificial intelligence business venture AIonONS that will provide various solutions as well as look to partner with startups.
InterGlobe has a significant presence in the Travel, Transportation, Logistics, and Hospitality (TTLH) segment, and the country’s largest airline IndiGo is part of the group.
At a briefing in the national capital on Tuesday to announce the joint venture, Bhatia, Group Managing Director of InterGlobe, said AIonOS is aimed at enabling businesses to accelerate their digital transformation by enhancing human and system capabilities with AI powered solutions.
During a joint interaction with Bhatia and Gurnani post announcement, Gurnani said the addressable market for the company is estimated to be USD 150 billion.
Gurnani is the Executive Vice Chairman of AIonOS and Chairman of Assago, his family office.
“We straddle different businesses, whether it’s aviation, travel commerce, hospitality or logistics… because we straddle different businesses, we think we have the institutional knowledge of the limitations of each of these specific industries… we believe the unique proposition that we bring to this joint venture is understanding the limitations,” Bhatia said.
He stressed that therein lies the opportunities to build products and services that can be offered to the industry at large globally.
AIonOS, headquartered in Singapore, is a joint venture between InterGlobe, the majority partner, and Assago.
It will offer various AI-powered specialised products and technologies, including AI custom solutions, industry-specific products and data insight.
Gurnani said the company will continuously seek partnerships. The focus is on data AI and customer experience and in terms of industry, it will be TTLH.
AIonOS will also look to partner with startups to deliver industry-specific solutions at scale with agility.
The company’s centres of excellence are working on a few proof of concepts. One centre is in Gurugram and two others in Chennai and Hyderabad will come on stream in the next two months, Gurnani said.
At the briefing, Bhatia said today, the two entities are taking a bold step by venturing into the realm of technology and AI as he emphasised that InterGlobe always pursues excellence in planning and execution.
“In a rapidly transforming world, it is crucial for businesses to reinvent themselves… our vision is to integrate AI, not Air India, across various industries,” he said.
Starting with TTLH, the company has onboarded many businesses from these verticals, according to a release.
Apart from India, AIonOS will have a presence in other geographies, including North America, Europe and the Middle East.
“The new business venture will onboard companies onto its IntelliOS platform that brings AI into every decision-making process and delivers tangible business benefits.
“AIonOS will connect with the enterprise’s existing data sources, that allows it to anchor the knowledge base on actual business reality and minimises the risk of information gaps,” the release said.
When asked about funding for the company, Gurnani said both partners have committed sufficient funds that “we think this is more than enough funds for operational needs and a little bit of reserves”.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Apr 23 2024 | 6:05 PM IST