Exclusive | Cisco CEO on $1 billion AI fund and what he likes about Indian startups

“To be a successful networking company, you have to be a great security company. To be a great security company, you have to be a great AI company. And to be a great AI company, you’re going to have to be a great data company. We are the only company in the world that has all four of them.”

These are words of wisdom from Cisco Systems Global CEO Chuck Robbins.

In an exclusive interview with CNBC-TV18, Robbins spoke about the company’s comprehensive approach to technology before unveiling its artificial intelligence (AI) plans.

On June 4, Cisco’s global corporate arm, Cisco Investments, announced a $1 billion artificial intelligence investment fund “to expand the development of secure, reliable and trusted artificial intelligence solutions.” Cisco announced strategic investments in AI startups including Cohere, Mistral AI and Scale AI.

According to a recent study by IDC, the global artificial intelligence market is expected to double to over $500 billion in the next three years.

During the announcement, Robbins said the fund gives enterprises the opportunity to use generative AI to improve products and services, stating: “We believe we are well-positioned to be the best strategic partner for our customers in the era of AI.”

Also read: Growth in India will drive Cisco’s growth, says CEO Daisy Chittilapilly

On Friday, in an interview with CNBC-TV18, Robbins said it was about $1 billion The fund aims to drive innovation and support next-generation artificial intelligence technologies.

“We believe that investing in these startups will not only expand our capabilities, but also drive growth in the broader technology ecosystem,” Robbins said.

India’s emerging AI ecosystem

Robbins was full of praise for the rapid expansion of the startup ecosystem in India, which is in line with Cisco’s strategic interests. “The exciting thing about Indian startups is that they are growing fast,” he noted. “We pay great attention to the areas that are important to us.”

He said Cisco has made five acquisitions in India to leverage local innovations. “If memory serves, I think we’ve made five acquisitions here,” Robbins said, emphasizing the importance of integrating new technologies and ideas into Cisco’s portfolio.

Robbins was optimistic about the opportunities open to India.

“I suspect there will be a lot of opportunities here in India, not only for investment, but also for potential acquisitions when it makes sense… We are committed to being part of this vibrant ecosystem and supporting startups that are shaping the future,” Robbins said.

Read also: Exclusive with Chuck Robbins | Cisco begins production at its first Indian factory in Sriperumbudur