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How Yellow.ai Is Crafting GenAI-Powered Customer Support To Strengthen Enterprise Growth

Inc42 · 1y ago

How Yellow.ai Is Crafting GenAI-Powered Customer Support To Strengthen Enterprise Growth

Yellow.ai, an AI-driven customer service automation platform, has achieved $30-40 million in annual recurring revenue (ARR) in the fiscal year 2024, with India accounting for 30-40% of its business. The platform offers AI-based omnichannel solutions to enhance customer support and automate enterprise workflows. With features like generative AI (genAI), Yellow.ai provides intelligent and context-driven responses, resulting in improved customer satisfaction and increased productivity. The platform serves over 1,100 enterprises in 85 countries. Yellow.ai aims to continue its growth trajectory by expanding its business across markets like the UK, the EU, and Latin America.

Related News

Generative AI making customer support conversations more human, leading to wider adoption

Economic Times

Economic Times · 1y ago

Generative AI making customer support conversations more human, leading to wider adoption

Artificial intelligence-powered customer care is gaining popularity, with platforms like Exotel, Freshworks, Gupshup, Corover.ai, and Yellow.ai offering conversational AI solutions. Adopted primarily on Meta's WhatsApp, this technology makes customer support conversations more human and dynamic, replacing standard bot responses. Yellow.ai reported a 10% adoption rate for their GenAI-powered customer support, resulting in a response time of 0.6 seconds. Freshworks' Gen-AI platform, Freddy Copilot, produced significant savings and return on investment for a B2C enterprise retail customer. The conversational AI market is expected to grow at an annual rate of 23.6% from 2023 to 2030, with hopes of automating various customer touchpoints.

Yellow.ai deploys 30% of global generative AI bots domestically

Economic Times

Economic Times · 1y ago

Yellow.ai deploys 30% of global generative AI bots domestically

Yellow.ai, a conversational AI company, has witnessed a surge in adoption of its GenAI bots in India, with around 30% of the 120 bots deployed globally being used in the country. Unlike the US, where GenAI is mostly utilized for customer support, Indian businesses are using it to drive revenue growth, generate leads, and support sales. Yellow.ai is considering a public listing in the US by 2026-27 and expects to turn profitable this year. The company's revenue from India is expected to reach $20-30 million next year, contributing to its overall global revenue of $60-70 million.

Yellow.ai launches model-as-a-service through Orchestrator LLM

Economic Times

Economic Times · 1y ago

Yellow.ai launches model-as-a-service through Orchestrator LLM

Yellow.ai, an AI startup, has launched the Orchestrator LLM, a large language model that combines the capabilities of 15 AI models for enterprise use. The Orchestrator LLM addresses customer conversation challenges by accurately identifying queries and retaining conversation history. It reduces operational costs by 60% and increases agent productivity by 50%, according to Yellow.ai. The company has integrated the model in various use cases, such as sales and customer support, resulting in improved outcomes. Yellow.ai serves over 1,100 enterprises and has doubled its bookings in the US market, approaching profitability.

Decoding GenAI’s Game-Changing Impact On Indian Ecommerce Platforms

Inc42 · 1y ago

Decoding GenAI’s Game-Changing Impact On Indian Ecommerce Platforms

The ecommerce sector is leveraging the potential of GenAI to enhance user experience and improve operational efficiencies. Platforms like Amazon and Snapdeal are using GenAI tools to generate comprehensive product descriptions, create rich marketing content, and provide real-time personalized recommendations. GenAI is also being utilized for search and product discovery, analyzing product reviews, and automating customer support through AI-powered chatbots. However, the adoption of GenAI remains a concern for smaller players due to high costs, privacy concerns, and infrastructure requirements. Overcoming these challenges is crucial for widespread integration across the industry.

The Enterprise Opportunity: SaaS Startups, India’s IT Giants Riding The GenAI Wave

Inc42 · 1y ago

The Enterprise Opportunity: SaaS Startups, India’s IT Giants Riding The GenAI Wave

Indian IT services companies like TCS, Wipro, and Infosys are embracing GenAI capabilities for various internal and external use cases. These companies are initially using GenAI to optimize operations, but the ultimate goal is to provide GenAI-based solutions to customers. India's digital product startups have been built on the legacy established by IT services giants, making the GenAI revolution significant for the Indian enterprise landscape. Adoption of GenAI is cautious, with companies primarily focusing on streamlining operations and improving customer and employee experience. However, the potential for GenAI to transform large enterprises is immense, and its adoption is expected to increase in the coming years.

Used AI To Craft India’s Roadmap For The Next 25 Years: PM Modi

Inc42 · 1y ago

Used AI To Craft India’s Roadmap For The Next 25 Years: PM Modi

The Indian government, led by Prime Minister Narendra Modi, has embraced artificial intelligence (AI) in crafting India's roadmap for the next 25 years. The government utilized AI to classify suggestions from over 1.5 million people about their vision for India in 2047. The use of AI reflects the government's focus on maintaining a balance between innovation and regulation. The homegrown GenAI market in India is expected to exceed $17 billion by 2030, with numerous startups leveraging AI technology to cater to enterprise and niche audience needs.

Infosys chairman Nilekani says GenAI has enormous potential, plays down risks

Livemint

Livemint · 1y ago

Infosys chairman Nilekani says GenAI has enormous potential, plays down risks

Artificial intelligence (AI) technology known as Generative AI (GenAI) has the potential to significantly simplify human life and boost productivity, according to Nandan Nilekani, chairman of Indian IT giant Infosys. Nilekani played down concerns about AI causing human extinction, stating that people have come to understand the benefits of responsible exploration and advancement of GenAI. He also noted the difference between consumer AI, which focuses on enhancing usability and convenience, and enterprise AI, which presents challenges in data management and ensuring factual responses and insights. Infosys CEO Salil Parekh highlighted the company's GenAI projects, which cover various areas including software engineering, process optimization and customer support.

PwC India ties up with Meta for GenAI solutions

Economic Times

Economic Times · 9m ago

PwC India ties up with Meta for GenAI solutions

- Meta has partnered with PwC India to scale open-source AI solutions across industries using Meta's Llama models. - The collaboration aims to drive the widespread use of Generative AI (GenAI) in enterprise and public services, positioning India as a leader in digital innovation. - The partnership aims to create a more digitally enabled future, solving real-world challenges and driving meaningful change at scale. - The collaboration aligns with the Indian government's push to build a robust AI ecosystem with the IndiaAI Mission. - PwC and Meta will develop enterprise-grade GenAI solutions, combining Meta's technological capabilities with PwC's industry expertise. - PwC India's GenAI Lab will further strengthen the firm's capabilities to provide secure and scalable GenAI offerings tailored to the Indian market.

Glean wants to beat ChatGPT at its own game -- in the enterprise

TechCrunch · 1y ago

Glean wants to beat ChatGPT at its own game -- in the enterprise

Glean, a software developed by Arvind Jain, the co-founder of Rubrik, is aiming to provide enterprise employees with a custom ChatGPT-like experience for answering plain-English queries from vast amounts of data. Glean connects with enterprise databases to provide relevant answers, addressing the challenge faced by desk workers of finding required data efficiently. The platform leverages GenAI, but concerns have been raised about privacy and data security risks. Despite this, Glean has seen strong growth, recently raising $200 million in a Series D funding round and acquiring a customer base including Duolingo and Sony.

Zoho rolls out AI-powered customer management features amid slowing growth

Livemint

Livemint · 1y ago

Zoho rolls out AI-powered customer management features amid slowing growth

Chennai-based Zoho Corp. has updated its customer management software, Zoho CRM, with AI-powered analytics and support for open-source AI models. Despite reaching an annual revenue run-rate of $1bn in November, Zoho's global growth has slowed. The company aims to challenge established enterprise tech companies such as Salesforce and ServiceNow with the new software. Zoho's CRM for Everyone suite allows sales teams to customize modifications for other teams, breaking down silos and improving visibility. Zoho is also working on strengthening data security and developing AI models for increased privacy.

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