In an interaction with Mamta Maity, indiainfoline.com, Ganesh Gopalan, CEO of gnani.ai said that "Gnani.ai’s technologies power analytics and automation in multiple channels such as telephony lines, chat, email and even social media".
Tell us about Gnani.ai. What is the key value proposition that you offer to your clients?
Gnani.ai is a Conversational AI company with products and solutions for omnichannel automation and analytics. Our solutions range from AI-powered Virtual Assistants for various channels such as Telephony, Email apps, chat, etc. to Omnichannel Analytics.
Gnani is probably the only start-up in the Conversational AI space to have built in-house Automatic Speech Recognition (ASR) engines for multiple languages. A standard approach by our competitors is to use APIs off the shelf whereas at Gnani we have built our own Proprietary Speech Technology, trained from scratch. Today, our speech engines have been benchmarked by customers to be the most accurate in the industry, beating global competitors.
Our biggest value proposition for our clients is the fact that our solutions speak, understand, and respond to over 12 Indian languages and multiple dialects of English with industry-leading accuracy. The best part about having our own speech engine is that our domain-specific speech to text engines can be tuned according to the client’s requirements and our engines can be deployed across industries ranging from contact centers, BFSI, FMCG and E-commerce.
Gnani’s solutions include AI-Based Enterprise Customer Care Automation, Virtual Assistants (voice and text), and Voice biometrics. All these products help customers to be more efficient and improve the quality of their customer service significantly.
Please brief us about the growth story of the company
Gnani.ai was born out of an idea to help all Indians embrace the benefits of technology in their own language in the channel of their choice.
First, we built a speech recognition engine in Kannada and today we have the best speech engines for twelve Indian languages, in addition to English “in our Indian accent”.
We initially started with just voice technologies but today we support automation and analytics in multiple speech and text channels and are becoming the AI vendor of choice for multiple customers. We have been one of the first four Indian firms to secure an investment from Samsung Ventures and have been growing exponentially. Today. our team is working with some of the biggest companies in the banking, insurance, e-commerce, FMCG and financial services space
We started with the Indian market and now support customers across the globe.
What forms of technology is gnani.ai adopting? Could you give us details?
We believe that building proprietary deep tech technology stacks is the key to resolving problems using AI technology.
The technologies we are focused on include automatic speech recognition, natural language processing, text to speech, voice biometrics and omnichannel analytics. We are excited about the voice bots we have built for multiple customers for automating conversations over voice and text for multiple channels including telephony lines, web, chat, email, social media and other channels.
Our omnichannel analytics platform is another solution that analyzes conversations over multiple channels including those over telephony lines.
Our speech recognition technology can be used in multiple deployment models. We recently also launched an industry-first on-device model for multiple Indian languages that are highly accurate, can be deployed on the device, supports large vocabularies and has a low footprint.
Our voice biometric technology works in active and passive mode and has the unique capability of being language-agnostic in voice authentication.
We are probably the only company globally in this sector to have a technical partnership with Intel- We have several joint whitepapers and podcasts showcasing the work we are doing together to scale the speech decoding to thousands of concurrent users. We are also part of Nvidia’s Inception Program and were recently selected as one of the top five conversational AI companies showcased as part of their product showcase. We are filing multiple patents for our proprietary technologies.
Help us with the market size and opportunity for AI and NLP Platforms?
Technologies like AI, NLP have become ubiquitous and are touted to provide businesses with the much required improved efficiency. According to a recent report by Markets and Markets the global conversational AI market size is expected to grow to USD 13.9 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 21.9% and the major factors driving the growth of the Conversational AI market is the demand for AI-powered customer support services, omnichannel deployment, and reduced chatbot development cost. As far as the opportunity is concerned the enterprise landscape of AI has never looked more promising and we believe we as a nation are heading towards much wider adoption of AI in all major sectors.
Please elaborate on the plans of Gnani.ai?
We are focused on delivering value to our customers across the country through our proprietary AI technologies. The long term milestones are in alignment with our corporate mission which is to help real India get the benefits of digitization through AI-based speech and Natural Language Technologies. At the same time, we are expanding and working with customers in multiple geographies across the globe.
Can you explain the impact of COVID 19 on your industry?
The current uncertain environment with its unique focus on contactless solutions and remote working will have a long-lasting impact on the way organizations work. This has led to an acceleration of the acceptance of technology solutions with customers. Customers are now very clear that change is inevitable and moving towards adopting new technologies. We are also creating specific technology solutions based on speech recognition, biometrics and analytics for the opportunities that are being created due to the new environment.
What are the trends you are witnessing in the BFSI sector and what does that mean for the end customer?
Digitization is the biggest trend in BFSI and this has accelerated due to the current environment. To expand the end customer base and service existing customers better and more efficiently, BFSI companies are starting to incorporate elements of AI in all their processes. First of all, BFSI customers are clear that expansion is possible only through interaction with customers in local languages and our speech & NLP technologies in multiple languages are helping add value to customers in this regard. Secondly, there is an acceptance that a service has to be multi-channel. Gnani.ai’s technologies power analytics and automation in multiple channels such as telephony lines, chat, email and even social media. If there is a customer in a Tier-3, Tier-4 city in India, you have to service him in his own language even if he only owns a feature phone, and that is really gnani.ai’s forte. In BFSI, we are seeing our AI solutions deployed across all functions including lead qualification, customer acquisition, onboarding, upselling/cross-selling, customer engagement and customer service.