Sachin Dev Duggal, touted as the “chief wizard” of AI start-up Builder.ai, faced mounting issues leading to the company’s dramatic collapse less than a year after his family moved to Dubai. Despite raising over $500 million from renowned investors like Microsoft and Qatar’s sovereign wealth fund, Builder.ai’s reported healthy revenues turned out to be misleading, revealing a reliance on human developers masquerading as AI. This scandal marked a significant downturn in the AI boom, prompting scrutiny from creditors and investors alike.
Duggal, initially celebrated for his entrepreneurial charm and aspirations to democratize app development, saw his past ventures, like Nivio and Shoto, plagued with profitability issues and allegations of financial improprieties. As investigations into Builder.ai’s collapse continue, he remains low-key in Dubai while planning to launch a new venture aimed at guiding start-ups through the complexities of AI. This saga underscores the persistent theme of hype overshadowing genuine business viability in the tech sector.
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