Asia’s Richest Banker Uday Kotak Sees AI Correction Boosting Flows to India

Asia’s Richest Banker Sees AI Correction Boosting Flows to India India could emerge as a beneficiary of foreign flows, if the global artificial intelligence investment boom unwinds, as investors seek markets offering more attractive valuations, Uday Kotak, Asia’s richest banker, said. “The kind of leverage which global companies are taking to fund their AI aspiration is also leading to significant overvaluation in many cases,” the billionaire founder of Kotak Mahindra Bank Ltd., said in a virtual address ahead of India’s Diwali festival. “And India, as it works down the path of building its own AI capability, will also benefit for reverse flow, should it happen.”