Business

Bharti Airtel acquires 10% in AI start-up

Bharti Airtel on Thursday said it would acquired a strategic stake in Voicezen, an early stage start-up focused on conversational AI technologies.

Gurgaon-based Voicezen has been working on developing advanced solutions that leverage machine learning, AI, speech to text and voice technologies to offer real time analytics to help brands serve customers better.

In a filing with the stock exchange, the company said it acquired 10% shareholding in Voicezen. However, financial details were not disclosed.

“The investment will give Airtel preferred access to Voicezen’s technologies, which can be deployed across its customer touch points in multiple languages. These intelligent solutions will offer real time analytics and insights to make Airtel’s conversations with its customers more engaging and frictionless and enable faster resolution,” the company said in a statement.

It added that this would also allow Airtel to make contextual offers to customers based on real-time conversations.

The company said that the global Conversational AI Market Size is expected to grow from $4.2 billion in 2019 to $15.7 billion by 2024. “The megatrend will be driven by surging demand for AI powered customer support services and omni-channel deployment. Increasing customer engagement through social media platforms and integration of advanced AI capabilities will offer massive opportunities,” it added.

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Printable version | Jun 1, 2020 3:13:11 PM | https://www.thehindu.com/business/bharti-airtel-acquires-10-in-ai-start-up/article31644357.ece

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