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The hype around artificial intelligence mirrors the past noise around ecommerce. While there is no doubt that the technology will transform the world, Nurix AI’s Mukesh Bansal pointed out that today, the hype is ahead of reality. The world is now seeing an increase in investments, valuations, narratives, and headlines around AI. However, to understand the technology, one needs to take a close look at how AI has changed the way enterprises work and how it has helped improve efficiency. In a fireside chat at TechSparks 2025 Bengaluru, Bansal added that the use of AI has not significantly contributed to changing a company’s top-line or bottom-line growth. “AI is very impressive. But the last mile of AI, in terms of reliability, matching authentic human intelligence, having judgment, are not there. And I think it will take time,” he said during a conversation with Shradha Sharma, Founder & CEO, YourStory & The Bharat Project. AI's reliability can only be unlocked when it evolves to contribute to a company’s growth, he added. Drawing parallels from technology that has transformed the startup ecosystem, Bansal added that today’s giants in the ecommerce and internet ecosystem stand on the shoulders of many companies that have shut down. “There is a lot of pain along the way, a lot of companies have shut down. You don't remember those names anymore. So I think AI is... I would process it from the same lens, but perhaps in a more accelerated manner," he said. Bansal’s Nurix AI develops AI agents and assistants to help enterprises automate workflows, improve customer services, and increase efficiency for sales and support teams. According to Bansal, the thought process behind setting up Nurix AI can be traced back to his days as the co-founder of ecommerce platform Myntra, which was later acquired by Flipkart. He recognised that enterprises have repeatable work and expenses pile up when one hires a human workforce to address these requirements. This formed the thesis behind Nurix AI. Nurix is backed by Accel and General Catalyst and last raised $15 million in a Series A round in September last year.
