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Ananthakrishnan Gopal, Co-founder and CTO, DaveAI
How does AI integration scale sales and business growth?
In the last 4 to 5 years, almost every product in the market is discovered online. So, a lot of leads are lost, if this discovery is not easy to make, or if it takes an interested customer to know enough about the product to make a purchase decision. In a physical store, you get to have a look at the product, but you can also ask for help or a recommendation from the store owner or sales representative. A good sales representative can, with a few questions, understand what the user needs and then convince them about buying a product.
Imagine your best sales representative working 24x7 and catering to millions of customers at a time. This is how AI can help you sell better. Not only this, AI can be trained faster with new data or processes than any sales team, which means that your sales strategy as well as target segments can be changed at a faster rate. If you have your first employee in sales and marketing, then your second investment has to be in AI. By investing in AI-driven solutions early on, businesses can enhance their sales and marketing efforts in various ways, such as improving customer targeting, optimising advertising campaigns, automating repetitive tasks; and providing personalised customer experiences.
How cost effective is this platform for medium and small businesses?
With the latest iteration of AI, the process of integrating or adopting the AI platform into a business operation has become more affordable. Businesses can have an AI agent selling for them across channels within a couple of days. Having a low to near zero setup cost also means that the cost will scale up linearly with the number of people the business is planning to target. Not only this, the marketing campaigns would be more effective, possibly increasing conversion by 300% and keeping the spend on AI proportional to the growth of the company.
While AI was only affordable to larger companies or companies with their in-house tech teams, new businesses can leverage AI to innovative in their own business without worrying about the availability of tech.
What has been the growth % in last 1 year?
All enterprises want to invest in AI. If a couple of years back our company had to hard sell to businesses to adopt AI, the current tech innovation cycle now quantifiably proves that AI technology is a matured product in the market. So we have seen a fantastic growth of around 220% and 85% in the last two years. But a mature market also means very high competition. Hence, it is going to be a very unpredictable year ahead for us.
How has been the reception of this platform across India in metro and non-metro locations?
Our latest platform version is designed to cater to a nationwide audience. A standout feature is its ability to deliver AI solutions in local languages, making it more inclusive and impactful. While major cities have embraced it eagerly, we’re also excited about the innovative applications emerging from smaller towns and rural areas. Our market strategy focuses on raising awareness and showcasing practical examples through partnerships with Original Equipment Manufacturers (OEMs). We then expand our reach by collaborating with single-brand retailers, leveraging their existing customer base. Ultimately, our aim is to partner with multi-brand retailers, tapping into their diverse clientele and making our platform accessible across different segments of the retail landscape.