In the dynamic realm of AI technology, Yugandhara Lad, the Founder and CEO of Virtualyyst, leads with innovative prowess in the AI sector, propelling the company to prominence through a keen grasp of market dynamics and a commitment to technological advancement. In an exclusive interview, she discusses Virtualyyst's core services, expansion strategies, and groundbreaking innovations, highlighting its exponential growth. She outlines Virtualyyst's vision for reshaping the global AI market, promising to establish new industry standards. Join us as Lad unveils Virtualyyst's AI-powered innovative product in the making, revolutionizing social connections and ushering meaningful relationships in the digital age.
Q: What core services does Virtualyyst offer, and how does it differentiate itself?
Virtualyyst provides a range of technology solutions, including highly skilled IT & AIML resource outsourcing, customized AI & ML solutions, software development, and R&D support. What sets us apart is our customer-centric approach, commitment to excellence, and innovative solutions tailored to each client's needs. Today we cater to esteemed clients in the banking, NBFC, healthcare, retail, manufacturing, EduTech, and Gaming sectors offering AI-driven automation tools, predictive analytics, virtual assistants, customized AI applications, and AR/VR experiences. We consistently exceed our clients' expectations and aim to become industry leaders.
Q: Despite the pandemic's challenges, Virtualyyst has experienced exponential growth. Can you share insights into how the company has thrived?
During the pandemic, there was a huge demand for business automation in the market across various business industries. Virtualyyst assisted businesses in automating their operations, stabilizing them, and earning trust and credibility. The introduction of Chat GPT further boosted growth, as AI became a focal point in the market, leading to increased traction in Virtualyyst's AI & ML solutions. Today, Virtualyyst continues to grow at a CAGR of 50% and projects a CAGR of 85% by 2025.
Q: How do you foresee the global AI market evolving in the next few years? And where do you see Virtualyyst in it?
The global AI market is expected to reach over $500 billion by 2027 according to AltIndex.com. PwC's 2023 Global AI Study says AI will contribute $15.7trn to the global economy by 2030. With roughly 60 million people embracing AI solutions and tools per year, the entire AI market is set to reach more than half a billion users by 2027. Virtualyyst wants to capture 1% of this $500 billion AI market by 2029, making it a Billion-Dollar AI Tech company.
Q: Congratulations on being featured in Entrepreneur India magazine! Can you share what inspired you to start Virtualyyst and your goals for the future?
Thank you! Virtualyyst's journey epitomizes resilience and innovation, growing from humble beginnings to a key player in the AI tech landscape. You can read the full story here. We're excited to share our plans to launch Virtualyyst Europe in the next couple of weeks to capture the European market. Regarding AI in India, The Union Cabinet has approved Rs 10,371.92 crore investment for the India AI mission. Virtualyyst is exploring avenues to enter the government sector and aims to play a vital role in shaping India's AI future and contributing to social empowerment through responsible AI development. Looking ahead, an IPO next year will support our growth and help in achieving our goals.
Q: Tell us about the electrifying debut of your AI product, spotlighted in the Entrepreneur India magazine – What's the reaction been like by the investors?
We are thrilled by the electrifying response, sparking a wave of excitement and anticipation since our debut in Entrepreneur India magazine about our AI product launch. While we're still in the early stages of development, the reception from investors has been nothing short of phenomenal. Our vision is to develop an AI-based app that revolutionizes social connections and ignites meaningful relationships, giving you a reason to smile in the new age! We believe that in this digital age, authentic connections are more important, and our product aims to bridge that gap, navigating the complexities of modern relationships. Investors have shown a keen interest in our endeavor, recognizing the potential impact it could have on billions of lives worldwide especially in the new age Bharat. They share our passion for innovation and commitment to creating a platform that transcends the traditional boundaries of dating apps.
In conclusion, Virtualyyst is about to launch a revolutionary dating app, powered by advanced algorithms, enhancing social interactions and fostering meaningful connections. Virtualyyst is looking for the right investors to come onboard who can contribute towards the success of this product. With a customer-centric approach and cutting-edge technology, Virtualyyst leads the way in sustainable AI development, delivering transformative social experiences.
