Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Conversational AI Market is Evolving fast, goes Mainstream now

Conversational AI Market is Evolving fast, goes Mainstream now

The conversational AI market in India is expected to grow more in 2019. Since businesses are embracing real-world applications of voice-powered assistance, AI-based chatbots, and carrying out investments and acquisitions in the space, the demand for the conversational AI is also increasing.

Sources familiar with the matter shows that the AI space has already clocked a deal worth $6million till now in 2019. Last year AI startups have raised $13 million across 11 deals.

Coming to funding rounds, raised $2 million in a pre-Series A funding round led by pi Ventures. is an AI platform which specializes in assisting health and wellness segment. Another platform called Yellow messenger, an AI-led conversational customer engagement platform raised $4million last from its series A funding. The names of the investors were not disclosed.

In India, majority of the conversational AI market is dominated by digital assistants, voice assistants, chatbots, and AI-supported human concierges.  These solutions are being embraced in the financial field related to sales and services as well. Other industries such as travel and hospitality are also adopting technology to attract more customers and deliver a good service. 

Apart from conversational AI, another booming segment is conversational analytics. In this segment, companies assess service levels by analyzing consumer sentiments using AI. This year, already there were two major Startup acquisitions in the segment. Reliance Industries took over Haptik. The deal was worth Rs 700 crore. 

The sources are referred from Economic Times.


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...