The flourishing startup ecosystem witnessed the emergence of over 60 generative AI startups, attracting substantial funding and indicating a growing interest in the market. Early success stories from companies like Myntra and Pepperfry, leveraging AI for personalised product recommendations and virtual try-on experiences, added to the optimistic narrative.
However, challenges loomed large, with limited formal adoption across brands, budget constraints affecting investments in new technologies, and prevalent concerns about data privacy and the scarcity of expertise in managing generative AI implementations. Overall, 2023 served as a year of initial exploration and experimentation, showcasing potential avenues while underlining the need to address significant challenges for widespread adoption in the future.
Here is a list of Indian consumer companies that adopted generative AI in 2023.
Zomato
Zomato delved into generative AI in 2023, enhancing customer-facing features and backend tools to personalise interactions and streamline processes. They also appointed a Head of AI Product Development, emphasising commitment to transformative technology. Collaborations with Microsoft Azure showcased strategic partnerships, integrating LLMs from Azure OpenAI Service for data privacy.
Internal projects like Blinkit’s Recipe Rover demonstrated AI success. Zomato introduced Zomato AI, an intelligent foodie companion exclusive to Gold customers. Positioned as more than a typical chatbot, it understands users’ preferences, dietary needs, and moods.
Paytm
Paytm, the leading Indian FinTech, actively incorporates generative AI to optimise operations. Last year, the company streamlined its workforce by replacing 10% with AI-driven automation, focusing on sales, operations, and engineering teams. CEO Vijay Shekhar Sharma outlined Paytm’s ambition to become a “completely AI company.”
The company envisions generative AI transforming customer care through natural conversations, personalised assistance, and proactive issue resolution. Internal initiatives, like the “Nimble Neurons” contest, showcase Paytm’s dedication to fostering innovation using generative AI tools among employees. These efforts underline Paytm’s commitment to leveraging advanced technology to reshape the financial services landscape.
Swiggy
Swiggy embraced generative AI last year to enhance the user experience and streamline operations. They introduced a custom neural search engine for natural queries, providing personalised food recommendations. Experimental features included generating customised food images based on the user’s preferences.
The acquisition of Dineout led to plans for an AI-powered virtual concierge bot, simplifying restaurant selection. Swiggy also explored using generative AI to help restaurants and delivery partners optimize operations and routes. With the help of AI, Swiggy is committing itself to providing a more personalised and efficient food delivery ecosystem.
Myntra
In 2023, Myntra made substantial strides in integrating generative AI into its platform, with MyFashionGPT marking a notable initiative in collaboration with Microsoft. This AI-powered shopping assistant enhances conventional search functionalities and understands abstract user queries, offering complete looks across various categories. Apart from that, it also introduced its first premium virtual fashion influencer, Maya.
Beyond enhancing customer-facing features, Myntra is exploring the potential of generative AI in customer support and creative automation. Combining internally developed models and strategic partnerships, the hybrid model ensures optimal results with a steadfast commitment to security and data privacy.
Flipkart
Flipkart ventured into generative AI, leveraging Flippi and Large Language Models for personalised product recommendations and enhancing shopping efficiency. Semantic search technology deepens user intent understanding, surpassing keyword matching. Exploring image-led discovery and multi-modal search diversifies options for intuitive product discovery. AI in fashion design produces innovative trends, helping sellers stay ahead.
Ola
Ola employed generative AI for dynamic ride pricing, accurately predicting demand and traffic. They introduced Ola Assist, a voice-based AI assistant that enhances rider and driver experiences. Ola’s CEO, Bhavish Aggarwal, also introduced Krutrim, an AI chatbot described as “India’s first full-stack AI” solution.
AI-powered route optimisation algorithms improve driver efficiency by suggesting optimal routes. Ola also explored using generative AI for personalised ride recommendations, showcasing their commitment to a more intuitive and dynamic ride-hailing ecosystem.
Hotstar
Hotstar ventured into generative AI in 2023. focusing on personalised content recommendations and analysing user habits and preferences. They introduced an AI-powered search for natural language queries, improving search accuracy.
Additionally, Hotstar introduced an AI-powered search function that understood natural language queries, improving search accuracy and facilitating users in discovering content based on moods, themes, or specific scenes. The platform also experimented with generative AI for thumbnails and trailers, dynamically adapting visuals based on individual user preferences to attract attention and boost viewership.
Byju’s
In 2023, Byju’s made significant strides in incorporating generative AI through their “BYJU’S WIZ” suite, emphasising personalised learning and efficient education delivery. The suite, featuring BADRI, MathGPT, and TeacherGPT, harnesses AI transformer models to analyse student data and customise learning experiences. Byju’s also explored AI applications in content creation, generating practice questions, adaptive learning paths, and personalised feedback. Overall, Byju’s adoption of generative AI centred on personalised learning, advanced tools, explanations, and streamlining content creation for a more effective and tailored education experience.
Make My Trip
MakeMyTrip stepped into generative AI through a strategic partnership with Microsoft, marking a significant leap in their technological endeavours. Leveraging Azure OpenAI and Azure Cognitive Services, they introduced voice-assisted booking in Indian languages, expanding accessibility for users uncomfortable with text-based interfaces. Generative AI also offers personalised travel recommendations and tips, tailoring suggestions based on individual preferences and real-time data. The platform also utilised AI to analyse and summarise hotel reviews, simplifying user decision-making. Additionally, MakeMyTrip introduced curated holiday packages, allowing users to plan unique trips based on specific criteria.
