While markets like the US are mostly using GenAI for customer support in a bid to cut costs, India Inc. is using them as an opportunity to grow revenues, generate business leads and sales support, Yellow.ai cofounder and chief executive Raghu Ravinutala told ET.
Adoption of generative artificial intelligence for customer engagement is picking up pace in India.For instance, conversational AI company, which deployed around 120 bots for businesses worldwide this financial year, saw about 30% of these deployed in India.While markets like the US are mostly using GenAI for customer support in a bid to cut costs, India Inc. is using them as an opportunity to grow revenues, generate business leads and sales support, Yellow.ai cofounder and chief executive Raghu Ravinutala told ET.Founded in 2016 in Bengaluru, Yellow.ai is backed by Sapphire Ventures, Westbridge Capital, Salesforce Ventures and Lightspeed Venture Partners, among investors. It has raised about $102 million in funding so far, as per Tracxn.Among its clients, Bajaj Auto Finance has generated over 100 leads using the San Mateo, California-headquartered company’s GenAI chatbot, and a leading non-banking financier saw over 400 auto-loan applications, Ravinutala noted.
