AI Firm ‘Haptik’ Grasping The Global Markets For Expansion

Key Highlights

Haptik has set its sights on the international market, expecting non-Indian businesses

Haptik is also exploring changes in the other English-speaking nation

The ad-tech platforms let advertisers communicate with users on the AI platform’s publisher network

Haptik has set its sights on the international market, expecting non-Indian businesses to grow to over half its total revenue by 2019/20. CEO Vaish said in an interview, “The United States will be an aim market for us given that it is the largest market for enterprise software and software adoption.” 

Aside from this, the firm is also exploring changes in the other English-speaking nations such as the United Kingdom and the Asia-Pacific provinces, like Australia and Singapore. While decreasing to comment on present revenue, Vaish had claimed that the company was on track to touch an annual revenue run rate of $2 million (INR 13.85 crore) by this year. Currently, the business is growing at 1,000 per cent on a year average.

“By far, the aim has been on text-based chat, the next area we’ll focus on his voice,” Vaish added. The firm claimed that it has reached more than 30 million devices every month and has dealt over a billion chat transactions so far. According to the CEO, Haptik is on the way to touch 50 million end-users and process 10 million chats every month.

Related : AI platform Haptik develops a voice bot for KFC India on Amazon’s Alexa

Beyond this, Haptik app is a chat-based personal assistant that assists users with duties like bill payments, cab booking, or set reminders. For the enterprise, it has three options. The basic software development kit can be unified by any application to engage chatbots. 

Haptik’s artificial intelligence-enabled Concierge service, which powers Samsung’s ‘My Galaxy app’. The app has crossed over three million users in the appointment and is currently the largest successful implementation of the company’s chatbot platform, giving 30 per cent to its all-inclusive business. This amalgamation has been live since May 2016, began with basic beneficial services, to going on adding transaction-based categories along with the help for payments and several wallets. 

The ad-tech platforms let advertisers communicate with users on the AI platform’s publisher network via chatbots and the enterprise tool kit allows businesses to deploy chatbots to automate customer assistance across several platforms such as their website or apps. 

Related : Haptik’s New Chatbot

Reliance Industries Ltd (RIL), by its subsidiary Reliance Jio Digital Services Ltd (RJDSL), has procured a prominent piece of stakes in Mumbai based AI-platform Haptik for $100.9 million (INR 700 crore). 

In the purchase of $100.9 million (INR 700 crore), RIL gave $33.1 million (INR 280 crore) and $67.8 million (INR 420 crore) will come into Haptik over the next coming years. Reliance now owns 87 per cent of the stakes in Haptik and the rest of the shares will be own by the company through stock option grants. Soon, All of the Haptik’s business and possessions will be shifted to the Reliance Jio Digital Services Ltd.