BENGALURU: Voice Artificial Intelligence (AI) company Skit has plans to tap the global $300-billion voice customer service market with its AI-based tech- Vernacular Intelligent Voice Assistant (VIVA). VIVA replicates human-like conversation and also translates speech characteristics and offers query solutions.
Bengaluru-headquartered Skit Co-founder and CEO Sourabh Gupta told TNIE that the company has now opened its US headquarters in New York.
“We have observed that there is a huge demand for voice interfaces across contact support and the global market size will reach $496 billion by 2027,” he said. Skit is going global with recent expansion into the South-East Asian market.
“We have noticed that there is a high potential in this market for the adoption of conversational AI, especially for voice,” Gupta said.
In the last one year, the company has acquired over 25 large enterprises and has grown 4X in terms of revenue. It plans to scale it to 10X to cater to the rising demand for voice AI in India.
There was an unprecedented increase in call volumes at bank call centres during the pandemic time, as customers tried to manage their portfolios amidst the chaos of hastily implemented work-from-home policy, financial instability and overnight change in consumers behaviour.
Gupta said for the end-users, the traditional IVRs (Interactive Voice Response) and wait time are frustrating. According to Adroit Market Research, the India call centre market was valued at $28.19 billion in 2017.