Mumbai, Sep 24 (IANS) Artificial intelligence (AI) chatbot company Haptik, a subsidiary of the Mukesh Ambani-led Reliance Industries Ltd., on Tuesday announced that it has acquired Buzzo.ai, a Mumbai-based conversational commerce startup.
Buzzo.ai, started in 2016 by entrepreneurs Anand Ramachandran and Vivek Arya, is a platform to create an expert advisor-like conversational shopping experience in any retail or e-commerce domains.
Haptik will be able to further enhance voice and chat commerce solutions for its customers globally, which consist of Fortune 500 brands such as Samsung, KFC, Coca-Cola, Oyo Rooms, HDFC and Viacom18 amongst others, the company said in a statement.
"Over the last 18 months, we have been primarily focused on customer service AI solutions, which now process more than two billion interactions. But given our mission to enable the paradigm shift from clicks to conversations, commerce was always the next frontier.
"The Buzzo.ai team has taken a very unique approach to solve this problem, which is totally different from what we have today," said Swapan Rajdev, Co-Founder and CTO of Haptik.
Buzzo.ai enables an AI assistant which can understand a customer's need through natural conversation. It then comes up with the most relevant recommendations that match the specific inputs and explains why that might be the best choice. The idea is to simulate a real-life sales associate as closely as possible.
This new acquisition comes on the heels of Haptik's expansion to North America, where they acqui-hired the founding team of Convrg, a Los Angeles-based startup.
With the Buzzo.ai team now on board, the company is set to enable the next generation of advanced AI solutions for enterprises globally across customer care and commerce, a combined market size that is estimated to be more than $500 billion.
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