Abhay Singhal, one of the co-founders of InMobi, holds the perspective that India is making a significant shift from being a follower of trends to becoming a leader in the realms of consumer technology and advertising technology. During an interview with CNBC-TV18, Singhal emphasised that the future of India's adtech industry looks incredibly promising.
"Advertising is a very secular industry. It is the need of the hour of every brand to reach the consumer and it is also the easiest way for any B2C company to make money. So adtech has a very bright future. However one thing which is very unique about India specifically is we are starting to come to our own, we are no longer just the trend-jackers, we are actually becoming torchbearers and picking up our own stuff and saying these are the solutions that we are going to bring in the advertising sector," Singhal said.
Back in 2011, InMobi achieved the distinction of becoming India's first unicorn. Subsequently, in 2020, its subsidiary, Glance, earned this title by securing a substantial investment of $145 million from tech giant Google and investment firm Mithril Capital.
Delving into the realm of Artificial Intelligence (AI), Singhal highlighted that InMobi's overarching goal is to enhance the aesthetic quality of advertising, a feat that is unattainable without placing AI at the core of their efforts. He underlined that AI isn't merely a tool to improve efficiency; rather, it serves as a catalyst for reimagining established paradigms.
Furthermore, Piyush Shah, another co-founder of the InMobi Group, as well as the President & COO of Glance, along with Vasuta Agarwal, Chief Business Officer of Consumer Platform Advertising at InMobi, engaged in a conversation about the transformative forces reshaping the landscape of media and consumer technology. They also elaborated on their strategic approach to unlocking the next phase of growth within the intricate and demanding adtech arena.
Watch video for entire conversation.
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