WhatsApp getting AI assistants for small companies to customise ads
After disrupting the SMS channel, WhatsApp is piloting calling functionality for large enterprises, which could cause a channel shift from IVR telephony currently used for customer services. “We look at it differently than traditional calling, and, by the way, calling is something which business users have been seeking from us for long,” Srinivasan said, explaining that WhatsApp users will be able to make outbound calls to customer service agents of businesses in the context of already active chat “It will be more focused on addressing complex queries, or contextually aware conversations which need immediate attention for use cases like flight cancellation support, or buying an insurance policy etc.” Sandhya Devanathan, vice president at Meta India, said WhatsApp Payments is another area which businesses are adopting in a big way…It’s been nearly two years that we launched payments and we’ve seen the volumes double in just the last six months,” she said. Meta, the global leader in GenAI development is also extending its AI model Llama’s capabilities to WhatsApp Business users for two unique purposes – AI Agents and AI Assistants. “We envisage that every business will have the support that they need from an AI agent. We want AI to be a supportive tool around how they take care of customer engagement, how they close that sale, how they respond to complaints,” Devanathan said. “That’s piloting, as we speak, in India, and we hope to roll out AI agents soon.” Meanwhile, AI Assistants will help small businesses to design personalised ad creatives within WhatsApp. “We’re piloting that now in the US and Singapore and hopefully very soon in India.” When asked about Meta’s efforts in preventing spamming on WhatsApp, Devanathan said, “We are developing this channel very thoughtfully and Instagram, and that’s where we have click-to-WhatsApp ads. This way the users have the choice when they initiate that conversation.” “The second thing is that when some business is potentially behaving badly or spamming customers, users have the choice to block or report a business. And we take that very seriously,” she said. Revenue from Click-WA ads have doubled in India. Whatsapp payments are being adopted by businesses in a big way.
AI is revolutionising festive shopping in India
As India’s vibrant festive season approaches, artificial intelligence (AI) is transforming the shopping experience, making it smarter and more personalised than ever before. Here’s a look at how AI is shaking up festive commerce, featuring insights from major online retailers.
Personalisation: Tailored for the festive spirit – The festive season in India is synonymous with unique gifts and stylish attire, and AI is enhancing this experience by offering tailored shopping recommendations. Research indicates that 80% of consumers are more likely to make a purchase when offered personalised experiences.
Seamless integration: Shopping without the hassle – In India’s diverse shopping landscape, where customers switch between online and offline channels, AI plays a critical role in ensuring a seamless experience. Companies that use AI across their platforms often see a 25% increase in revenue due to improved customer satisfaction.
Enhancing loyalty: AI’s role in building relationships – AI is not only about optimising shopping but also about fostering customer loyalty. A significant 75% of consumers expect personalised loyalty rewards and AI-driven programs are stepping up to meet these expectations. Nykaa, a beauty retailer uses AI to tailor its loyalty rewards.
Navigating challenges: Privacy and fairness –While AI brings numerous benefits, it also raises concerns, particularly around data privacy and algorithmic fairness. With 87% of consumers worried about how their data is used, transparency and compliance with regulations like India’s forthcoming Personal Data Protection bills are crucial. Retailers need to be clear about how they use customer data for personalisation and ensure that data protection measures are in place. Another challenge is bias in AI algorithms. If AI systems are trained on biased data, they can perpetuate existing inequalities.
Emerging trends: The future of AI in festive shopping – AI is continually evolving, and several emerging trends are shaping the future of festive shopping. One notable trend is the integration of augmented reality (AR) with AI. For example, Lenskart uses AR technology to allow customers to virtually try on glasses. This feature, powered by AI, helps shoppers find the perfect eyewear without needing to visit a physical store,
Conclusion
AI is revolutionising festive shopping in India by making it more personalised, efficient, and engaging. With personalisation driving up to 35% of revenue and seamless integration increasing sales by 25%, AI’s impact is substantial.
Non-metro cities leading in orders on e-commerce platforms in India
Non-metros cities in India like Gurgon (36.8%), Raipur (32.8%), Nagpur (20.9%), Jaipur (20.6%) get equally large orders as reported by Delhibery. Although large metro cities like Hyderabad, Mumbai and Bengaluru also get large orders. Online shopping is the preferred mode of shopping for 75% of shopping. About 81% of consumers use their smartphones or mobile devices to make purchases and recommendations from promotions/influencers are a deciding factor for 84% of consumers. These factors are as per a report. Electronics are replacing dry fruits as gift items. With high order return growth, there is also a surge in return rates, so online retailers are making smooth return management experience a key metric in the performance of an online retailer. Nearly 4 out of 10 (COD) Cash on delivery, Return on origin (ROT) are from apparels and accessories (39.3%), followed by beauty and personal care (14.5%). These categories comprise over half of CODs and ROTs and highlight the need for targeted returns reduction strategy for brands in this space, says the report.
71% indicated a sentiment to shop online this festive season
Around 50% of respondents are planning to spend more on online shopping during the upcoming festive season, an IPSOS survey commissioned by Amazon said. The survey claims to have captured replies from 7,263 people in July-August 2024 across 35 centres including Delhi NCR, Allahabad, Lucknow, Mathura, Muradabad, Etawah, Jalandhar, Jaipur, Udaipur, Kolkata etc. Around 89% of respondents expressed their excitement for the upcoming festivities, with 71% indicating their intention to shop online. “Nearly 50% of respondents who intend to shop online, stated they would spend more on online festive shopping compared to last year. This trend cuts across metros (55%) and tier-2 cities (43% in cities with 10-40 lakh population),” the report said. Convenience emerges as a major driver for online shopping with 76% appreciating the ability to shop remotely anytime, anywhere. “Speedy delivery at scale (74%), trustonline shopping events to provide genuine/original products (75%), affordable payment optionslike no-cost EMI (75%) are some other key factors which make customers shop online during the festive season,” the report said.
India jumps to Tier 1 in Global Cybersecurity Index 2024
India has jumped to Tier 1 in the Global Cybersecurity Index (GCI) 2024, released by the International Telecommunication Union (ITU), when it comes to role-modeling as part of the country’s cybersecurity commitments and resulting impacts.
What is it?
The Global Cybersecurity Index (GCI) is a trusted reference that measures the commitment of countries to cybersecurity at a global level to raise awareness of the importance and different dimensions of the issue. As cybersecurity has a broad field of application, cutting across many industries and various sectors.
Pillars of assessment
- Legal Measures
- Technical Measures
- Organizational Measures
- Capacity Development
- Cooperation
India’s Performance
India has claimed a spot in the Tier-1 category in the latest Global Cybersecurity Index (GCI) 2024, released by the International Telecommunication Union (ITU).
With a rank of 98.49, India is one of the 47 countries that has been adjudged as a leading nation which has demonstrated commitment to robust cyber security practices.
The GCI found India taking strong actionable cyber security measures in all these crucial areas.
India’s Score in each pillar
- Legal Measures – 20
- Technical Measures – 20
- Organizational Measures – 18.49
- Capacity Development – 20
- Cooperation – 20
Tier 1 countries
Australia, Bangladesh, Belgium, Brazil, Egypt, United States, Iceland, Greece, Sweden, Portugal, Qatar, Norway, Turkiye, United Kingdom and a total of 47 countries make it to the list of Tier 1 countries.
EaseMyTrip launches ScanMyTrip, a first-of-its-kind travel platform on ONDC
Online travel tech platform in India, EaseMyTrip.com has introduced ScanMyTrip.com, the country’s first travel marketplace of its kind, the company said. It has also become the first OTA (Online Travel Agency) to both offer and purchase travel services through the ONDC Network. ScanMyTrip.com will serve as a platform where OTAs, MSMEs, travel agents, and homestays can list services such as flights, hotels, and accommodations on the ONDC Network, expanding their reach within the digital marketplace. With EaseMyTrip’s collaboration with the ONDC Network, businesses in the travel and tourism sector can benefit from the digital infrastructure provided by ONDC. This partnership enables even small-scale service providers to access a larger customer base. ScanMyTrip.com streamlines the onboarding process, making it simpler for businesses to engage with travellers and thrive in the competitive online marketplace.
India leads in crypto adoption for 2nd straight year
India led the way in global adoption of cryptocurrencies for the second straight year as investors braved the country’s tough regulatory stance and steep trading taxes, a report from blockchain analytics company Chainalysis showed. The report, which tracks adoption across four sub-categories in 151 countries, showed India ranked high on usage of centralized exchange and decentralized finance assets from June 2023 to July 2024. India has taken a tough stance against cryptocurrencies since 2018, with the Financial Intelligence Unit (FIU) issuing show-cause notices to nine offshore cryptocurrency exchanges in December 2023 for non-compliance with local rules. “India has also got a fairly widespread level of adoption across different assets of crypto despite restrictions, implying new participants to crypto would have been participating via services that were not banned,” said Eric Jardine, research lead at Chainalysis. “Now we’ve started to see some of those restrictions get rolled back, for example with Binance, which is probably just going to amplify adoption in the country.” Seven of the top 20 countries in Chainalysis’ global adoption index were central and South Asian countries such as Indonesia, Vietnam and Philippines. Overall decentralized transaction volume carried out in retail-sized transfers, under $10,000 worth of crypto were recorded in countries with lower purchasing power per capita, the report said.
Insurance industry is adopting technology to assist customer
The insurance industry can use technology to assist customers and reduce grievances about delay and rejection of claims, according to experts. Satyajit Tripathy, member-distribution at the Insurance Regulatory and Development Authority of India, said that in the non-life insurance sector grievances were mostly related to claims — either rejection or underpayment. Artificial intelligence (AI) and automation are helping the general insurance industry’s processing of claims by improving accuracy, communication and resolving customer complaints, said Shashi Kant Dahuja of Shriram General Insurance. Customer grievance in health insurance is usually regarding unclear communication about policy terms and the claims process. Concise explanation and robust support systems for policy terms will help in prompt resolution of claims, according to experts. “Multi-channel support, including online chatbots, mobile apps, and 24/7 help lines, enhances accessibility and helps customers receive assistance when needed,” said Priyanka Kamdar, head-growth at Mihup, an AI-powered conversational intelligence platform. “Turnaround time, speed and customer experience are great enablers in bringing down customer complaints. Using technology is critical in servicing customers but equally when it comes to claims, delivering empathy is important. We consistently monitor complaint rates which have significantly come down,” said the senior executive of an insurance company who didn’t want to be named.