As one of the 10 handpicked #tech start-ups selected for the prestigious TechStars @hub71ad Accelerator Program 2021, we’ve undergone a complete transformation, thanks to the wonderful mentors and @techstars global network.
Bengaluru-based AskSid AI leverages coinversational AI to enable retail brands improve their conversion rates, that is, turning visitors into paying customers. The company does it with a combination of AI and analytics. “When visitors chat with our chatbot, we take their utterances and train our systems. Our systems today are capable of creating their own utterances which then are carefully identified by our data scientists to train the system in turn,” says Sanjoy Roy, co-founder, AskSid AI.
Buying is a mix of cognitive, emotive and self-satisfying journey for every consumer - she wants to know facts about the products she intends to buy, the nuances about the product features and how 'she as a consumer' can use it, the variety and possibilities she can choose from and lastly buy with confidence that 'she bought the right stuff for her need'. You will agree that 99% of the time she does not find answers to all these questions readily available on the web shop despite the retail brand having all answers to all her questions.
Before talking about prospects for AI in the retail and CG sector, let’s first look at some macro trends triggered by Covid-19, that point at a tectonic shift in the contours and operating model of this industry. 1. Buying has shifted from physical stores to the online world and this is not likely to be a temporary trend but most likely a permanent one. Statista predicts that global e-commerce sales is expected to touch $6.5 trillion...
AI-powered chatbots became a craze in 2016, thanks to advances in natural language processing, access to open source algorithms, and platforms like Facebook Messenger opening up to them. But the hype cycle soon hit a trough as more than two-thirds of the bots on FB turned out to be duds when they ventured beyond demos into real life.