Avaamo is a deep-learning software company that specializes in conversational interfaces to solve specific, high impact problems in an enterprise. The company has developed fundamental AI technology across a broad area of neural networks, speech synthesis and deep learning to make conversational computing for the enterprise a reality. It is also building a new technology stack, with its seven patents.
Avaamo provides an enterprise AI platform that tightly integrates tooling, data, and enterprise connectors to ensure designers, data scientists, and developers can design and deploy complex conversational applications in weeks. It has over 50+ enterprise customers in India including Honeywell, Wipro, SBI Mutual Fund, Reliance Nippon, Reliance Capital, HDFC Loans, ICICI Prudential, IFFCO-Tokyo, Birla Sunlife, Aditya Birla Capital, Axis Bank, City Union Bank, RBL, Ashok Leyland, IndiaFirst Life Insurance, and many more.
The Next Jump
Avaamo is part of an elite group of technologists that work collectively to make the world a better place by boosting employment, solving the most pressing scientific and business challenges and sparking creativity. With the goal to help businesses, Avaamo has become a crucial component of reinventing how business is conducted in the 21st century.
The next step in the enterprise software is conversational interfaces to talk and ask questions in enterprise systems. The rise of conversational interfaces, whether in the enterprise or consumers, is a secular trend in human-computer interaction. It is the first significant change after the invention of the browser. The idea germinated in the co-founders’ mind, ultimately leading to the foundation of Avaamo. Both the co-founders wanted to build a new platform to offer Conversation-as-a-Service (CaaS) as a new kind of infrastructure.
Intuitive Leaders of Avaamo
Ram Menon, Co-Founder and CEO, brings over two decades of experience in enterprise software. Previously, Ram was the president of social computing at TIBCO. He founded the division and built the business from scratch into a leader in social business software. During his stint at TIBCO, he was executive vice president and CMO. Prior to joining TIBCO, Ram was with Accenture, a global consulting firm, where he specialized in supply chain and e-commerce strategy consulting with global companies.
Sriram Chakravarthy, Co-Founder and CTO, brings over two decades of engineering experience in designing massively scalable distributed software. His fervent belief is that intelligent, conversational interfaces are the panacea of the “last mile automation” challenges in the enterprise. Previously, Sriram was vice president of products for the social computing division at TIBCO. He successfully scaled engineering, support and services to serve customers in 121 countries. At TIBCO, he was responsible for product strategy and management of the company’s core portfolio of business integration products. He has also worked as a software engineer and architect in messaging, machine learning, e-commerce and cloud software and has picked up a dozen patents on the way.
Avaamo is one of the leading conversational interface providers to banking, insurance, and telcos in India. Many financial institutions choose Avaamo to implement conversational AI based interfaces due to its security, integration, back end systems and patented method to converse intelligently.
Avaamo’s goal is to make conversational computing for the enterprise a reality. To deliver conversational AI’s promise, fundamentally new technology has to be built to perform multi-turn discussions and execute the intensive judgment tasks just like humans. Companies can streamline and improve their service desk and drastically improve customer care; insurers can generate quotes in minutes, and health care providers can help diabetics or cardiovascular patients better by monitoring their health care through a virtual assistant on an app.
USP: The Fundamental AI Technology
Avaamo has developed fundamental AI technology across a broad area of neural networks, speech synthesis and deep learning to make conversational computing for the enterprise a reality.
The comprehensive and easy-to-use AI platform offers:
- Comprehensive NLP based AI engine
- Behavior libraries designed to detect hate, frustration, praise and a gamut of other emotions
- Deep domain machine learning models in banking, insurance, telco, and healthcare
- Integration to legacy systems and systems of record
- Broad deployment options — deploy to messaging solutions, websites and portals
- Enterprise-grade security, entitlements, and scalability including HIPAA & GDPR compliance
The Latest Announcements
Over the years the company has achieved many milestones and is now expanding its venture.
Following are the successful steps taken by the company to empower its future journey.
- Tech Mahindra and Avaamo Partner to take Conversational AI Platform to Global Markets
- Avaamo raised a $14.2 million Series a financing round led by Intel Capitalwith additional investment from Ericsson Ventures, Mahindra Partners, Wipro Ventures and WI Harper. This funding brings the company’s total investment to $23.5 million to date.
Massive Technology Advancements
Managing privacy and user data is a huge problem that has not yet been solved well and is an area which will see a lot of changes in the coming years. As a result one can expect companies, regulatory organizations and even governments to start pushing for more ‘protection’ of data.
“Always remember that you will face difficult decisions on a daily basis, and you can’t always expect to get it right. But it’s important to realize that to finish first you have to first finish.”-says Ram. Furthermore, he added “What is even more important is that people entering the field or starting a new job to understand what a company is trying to do for the customer. Everyone in an organization needs to think about what they are doing day-to-day to help achieve that goal. That’s true if you are the engineer, salesperson, and marketer. You also need to be intellectually honest and be willing to put in long hours at times.”
The Big Future
Avaamo is committed to making it incredibly easy for businesses to implement this paradigm shift in user computing. It is planning to become a crucial component of reinventing how business is conducted in the 21st century. The company is also pushing itself ahead in various areas where conversational interfaces can be implanted in the enterprise.
Source :-The 10 Most Innovative Tech Companies to watch in 2019