AI in social media, cleantech, enterprise automation & investment
The power of Artificial Intelligence (AI) is everywhere we look, whether its customer support or environment friendly tech. While we still keep an eye on AI and ponder a future where we co-exist with AI, the ecosystem continues to buzz with activity.
The Tech Panda takes a look at how AI is benefitting sectors like social media, cleantech, enterprise automation, and investment.
AI in Social Media
WhatsApp on-boards Verloop.io to drive conversational commerce
Verloop.io, the Conversational AI platform for Customer Support automation, has become WhatsApp’s business solution provider (BSP). As a BSP, Verloop.io will enable businesses to effectively tap all new touchpoints of a buyer’s purchase journey, remove any friction and ensure better lead conversation and customer satisfaction.
So, businesses can leverage WhatsApp as a platform to scale their support automation with their customers securely.
WhatsApp is aligned with people’s texting habits and is known for the convenience it offers. The platform has an active monthly user base of over 2 billion users that are spread across 180 countries. As per the data by Verloop.io, almost over 65% of consumers believe WhatsApp to be the easiest way to connect with a brand and resolve queries.
Talking about the association, Gaurav Singh, Founder and CEO of Verloop.io, said, “Given today’s situation and how the pandemic has changed user behaviour, brands must now find ways to apply AI-based solutions for ensuring they are delivering delightful support experiences.
Given today’s situation and how the pandemic has changed user behaviour, brands must now find ways to apply AI-based solutions for ensuring they are delivering delightful support experiences
“WhatsApp is a massive messaging service with deep penetration that allows businesses of all sizes to reach their users with ease. With this association, Verloop.io’s machine learning automation is combined with the strength of WhatsApp Business API and, brands will now have an end-to-end solution for developing and strengthening their customer experiences.
“As one of the select official WhatsApp Business service providers globally, we aim to benefit more than 2,000 enterprises with conversational automation as the next generation of consumer to brand communication offering.”
Context & Stats
Consumers are increasingly looking at on-the-go and on-demand convenience. Most of these conversations are now driven by technology. With the help of conversational commerce, an increasing number of companies are harnessing the power of social interaction to market products to their target audience.
A recent report predicts that the social commerce industry will grow multifold and will reach US$1.2 trillion by 2025.
With WhatsApp chat being active 24×7, customers can communicate and solve data driven queries on a real-time basis seamlessly and without any human intervention, while automatically transferring complex customer queries to live agents for more empathetic responses. This enables brands to scale their support without worrying about Operational Expenses and augmenting their Customer Experience.
AI in Cleantech
Ambee launches ??Gspatial.ai to offer historical air quality & weather data to businesses & govts. in 70+ countries
Ambee, a climate intelligence company that supplies hyperlocal environmental data in real-time, has launched Gspatial.ai, a new offering that provides historical air quality and weather data to businesses and governments across 70+ countries all over the world. The service includes street-by-street hourly air quality and weather data spanning the last 20+ years.
The launch will benefit healthcare, pharma, insurance, logistics, retail, and even government bodies. It helps mitigate the risks of climate change through deep and actionable insights on environmental factors, helping companies assess risks and make sound business decisions. Businesses can easily shop for historical air quality and weather data through Gspatial.ai’s website or a purpose-built API dashboard.
Commenting on the launch of Gspatial.ai, Madhusudan Anand, CTO and Co-Founder, of Ambee, said, “Our mission is to improve the health of millions of people but also the planet itself by developing products that can impact those affected by climate change.”
Our mission is to improve the health of millions of people but also the planet itself by developing products that can impact those affected by climate change
He added that Gspatial.ai is a step in that direction, with easy access to reliable and accurate historical information on hyperlocal environmental factors.
“This will help businesses understand how environmental events can have an impact on revenue. Industries such as oil and gas, energy, automobiles, insurance, healthcare, agriculture, and forestry are amongst the most vulnerable to climate risks. Businesses can use historical environmental data when looking at capital allocation, development of products or services, and supply-chain management. Through this product, we hope businesses can stay resilient to climate disasters, profitable and sustainable while helping their customers stay healthy,” explained Anand.
Context & Stats
The Swiss Re Institute’s recent Climate Economics Index stress test reported that the global economy could lose up to 18% GDP from climate change by 2050. Further, the Environmental Research Letters journal at the University College of London, reports that by the year 2100, climate change will cost the world six times more than originally thought.
The United in Science 2021 report says that the average global temperature was the highest on record for the last five years. Carbon dioxide levels are at their highest in 650,000 years. This past year has also recorded extreme weather and climate calamities, an effect of human-induced climate change.
It is clear that climate change is a huge risk to all businesses. Access to accurate and historical environmental data can help reduce loss and insulate against further risk through adaptability and climate resilience.
One of the most important benefits of historical environmental data is risk assessment and insurance. Historical environmental data services like Gspatial.ai help in creating risk models that predict weather patterns, protect solvency by better investment decisions, aid resource optimisation, and encourage policymakers to take action.
For instance, environmental data oversees precipitation events (floods and mudslides), wildfire frequency and severity, temperature spikes, crop growth, soil erosion, and more. In the same vein, when it comes to logistics, for example, environmental intelligence will accurately identify a delivery window or adjust ETAs according to the weather, optimize inventory before inclement weather, and establish clear and cost-effective transportation, among other advantages.
- Hyperlocal emissions with CO2 in PPM and CO2e in Gigatons
- Pollen, vegetation, satellite images, historical fires data
- Historical severe weather events data,
- Bulk historical climate data,
- Environmental forecast data for more than 80 years and lots more
AI in Enterprise
SuperBot powered DIY Portal to ensure Indian SMEs don’t lose out on enterprise automation
SuperBot, an AI-powered communication agent from PinnacleWorks, has launched its DIY Portal to empower businesses of all sizes across the country. The portal is designed to enable enterprises to supercharge key functions such as marketing, sales, customer service, surveys, feedback, etc. by deploying cutting-edge automation capabilities.
Backed by SuperBot’s AI and NLP capabilities, the DIY Portal allows businesses, from MSMEs to large enterprises, to deploy campaigns without knowing a single line of code, thus streamlining the user journey and enabling swift deployment. Once they sign up and create an account, business users just need to select their industry, use-cases and preferred language and voice-overs before uploading contact numbers.
The launch of DIY Portal is meant to catalyze market growth and help businesses achieve superior unit economics via process automation, especially within the SME segment
Speaking on the launch, Sarvagya Mishra, Co-founder and Director, SuperBot (PinnacleWorks), said, “The launch of DIY Portal is meant to catalyze market growth and help businesses achieve superior unit economics via process automation, especially within the SME segment. By automating key processes, the all-new DIY platform will enable businesses of all sizes to meet and exceed their KPIs and drive better outcomes with zero training, management, or infrastructure costs. During the beta testing phase, the platform enabled 100x faster calling for businesses.”
- A cloud-based, AI-powered automation platform that can help businesses connect with 1 million people a day through voice calls made by intelligent voice agents with 24×7 availability
- Requires no coding skills, allowing for hassle-free deployment
- Eliminates the costs and effort involved in hiring or training human agents while ensuring consistent and contextual customer interactions over a voice-based medium
- Allows businesses to save time and money while improving key metrics such as customer satisfaction, lead generation, and acquisition costs.
- Support in 10+ languages, including Hindi, English, Gujarati, Bengali, Tamil, Punjabi, Tamil, Telugu, and Kannada, etc.
- Uses algorithms that have been extensively trained on 100+ industry-specific use-cases.
AI in Investment
Upside AI partners with Smallcase to expand reach of tech-led investment products
Upside AI, one of India’s first funds that combines machine learning and fundamentals-based investing has partnered with Smallcase, an investment platform. The association will enable Upside AI to offer research services to a large set of investors across India.
At present, Upside AI serves high net worth individuals and family offices with minimum ticket sizes over INR 50 lakh, while the products under this association are tailored to meet the evolving needs of retail investors with a much lower threshold (INR 1-5 lakh).
Atanuu Agarrwal, Co-founder of Upside AI, said, “Our association with Smallcase is in line with our long term vision to be India’s largest end-to-end tech-led asset management company. I believe systemized investing will dominate Indian markets in the next decade and Upside AI will be a key player in that space.
There is no reason why access to the best investment tech should be restricted to just the ultra-wealthy
“Smallcase is a great platform allows us to accelerate that journey and empower retail investors – there is no reason why access to the best investment tech should be restricted to just the ultra-wealthy.”
As seen in developed markets, the future of investing in India is tech-led, rules-based (“systemized”) as opposed to being human-led.
Since most managers on the Smallcase platform are human-driven, Upside AI expects to stand out given its proprietary technology and consistent track record. The company will work jointly with Smallcase to popularize systemized investing and to attract even more investors into the fold.
- Emerging Bluechip: Dynamic portfolio of 10-20 high quality mid-caps
- Shockproof: Use macro signals to invest across asset classes (equity, debt, and gold) to stable long-term returns with extremely low risk
- Titans: Portfolio of 8-12 large-caps that adapts to prevailing market conditions
Read more: The future of banking is FinTech automation