OpenAI CEO Sam Altman has thrown his support behind an emerging AI startup founded by two enterprising teenagers. The venture, named Induced AI, aims to revolutionize business operations by offering a novel approach to automating many workflows.
Established just this year, Induced AI boasts an innovative platform that allows businesses to input their workflows in plain English. This linguistic input is then seamlessly transformed into real-time pseudo-code, streamlining a host of repetitive tasks traditionally handled by back offices.
The platform can summon Chromium-based browser instances, harnessing its technological prowess to read on-screen content and navigate the browser like a human operator.
This unique capability enables the browser to interact with websites, even in cases where APIs are absent - an impressive feat demonstrated by Aryan Sharma, Induced AI's co-founder and CEO.
"Today, we're excited to announce our first round of funding. Sam Altman and Peak XV (formerly Sequoia India & SEA) led the round, with Signalfire, Superscrypt, SV Angel, IDEO Colab Ventures, Human Capital, On Deck, and Untitled Ventures participating," the startup said in an announcement.
Mission of Induced AI
In an official blog post, Induced AI expounds on its mission, presenting AI workers as an extension of a company's workforce, adept at tackling tasks across various domains from sales to compliance and internal operations.
Their cloud-based approach allows for the simultaneous operation of one or a thousand such workers without burdening the user's local machine.
What sets Induced apart is its foundation in a cloud-centric model, ensuring that automated tasks run seamlessly in the background without disrupting the user's computer. This innovative stance extends to their purpose-built browser environment, tailor-made for executing automated workflows.
By engineering this browser environment, Induced AI has equipped it with automated interaction capabilities and LLM reasoning, granting it access to authentication, file systems, and memory for executing complex workflows.
The process is touted to be user-friendly - a screen recording or a written set of steps from a user is seamlessly translated into executable pseudo-code, all within the browser environment.
Induced AI marks a notable departure from yesteryear's deterministic and ruleset-based workflows. While traditional RPA (Robotic Process Automation) software excelled in such realms, Induced sets itself apart in automating non-deterministic workflows demanding real-time judgment.
That includes tasks like background verification workflows for new email inbounds, which involve intricate steps such as scrutinizing social media profiles and web content.
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Induced AI's Funding
The startup's initial funding round has garnered significant attention, with Sam Altman and Peak XV leading the charge. Notable participants include Signalfire, Superscrypt, SV Angel, IDEO Colab Ventures, Human Capital, On Deck, and Untitled Ventures.
In addition to this, the venture announces its inclusion in AI Grant's Batch 2, with industry luminaries Nat Friedman (former CEO, Github) and Daniel Gross (ex-YC and Pioneer) joining as supporters.
The roster of angel investors includes distinguished figures like Balaji Srinivasan, a former CTO of Coinbase, and Julian Weisser, a co-founder of On Deck, among others, underscoring the burgeoning excitement surrounding this startup.
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