Startup news and updates: daily roundup (November 10, 2023)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, November 10, 2023.

Startup news and updates: daily roundup (November 10, 2023)

Friday November 10, 2023,

2 min Read

Grip Invest partners with wealthtech platform Centricity to offer fixed-income products

New Delhi-based Grip Invest has entered into a strategic investment with wealth-tech firm Centricity to offer fixed-income products such as securitised debt instruments and corporate bonds.

The partnership will help Grip Invest make use of Centricity’s vast network of 1000+ financial product distributors across 12 states and its financial advisory services for traditional investment options such as fixed deposits and mutual funds, the company said in a statement.

Grip Invest’s proprietary technology Grip Connect has assisted in integrating Centricity’s offerings with Grip Invest through an end-to-end API suite. This will make it possible for Centricity’s wealth managers and financial advisors to access Grip Invest’s SDI products and corporate bonds for their client portfolios, the statement noted.

“Our partnership with Centricity marks a significant milestone in our mission to democratise fixed-income investments. It allows us to reach a wider audience that Centricity has, and offer our innovative investment options to those seeking to create wealth in a secure and efficient manner," Vaibhav Laddha, Chief Business Officer of Grip Invest, said.

Air India to introduce AI-powered features to address customer queries

Air India plans to introduce sophisticated features to its generative artificial intelligence virtual agent that handles more than 6,000 customer queries daily.

The Tata Group-owned airline said it is using ChatGPT to analyse some complex questions it may not be able to immediately answer to improve customer experience in later interactions. Air India said it has become the world's first airline to have successfully deployed a Generative AI virtual agent 'Maharaja', powered by Microsoft's Azure OpenAI service, according to a company statement released on Friday.

The agent has successfully answered over half a million customer queries since its pilot launch in March 2023, and today manages over 6,000 queries a day in four languages, the release said.

“We are dedicated to providing the best possible service and experience to our valued guests across channels. We also want to be very responsive to their changing preferences. After the emergence of Large Language Model driven Generative AI capabilities, we are increasingly seeing a definitive shift in guest preferences to use chat interactions to get the information and support they need quickly and directly as compared to browsing several web pages,” Satya Ramaswamy, Chief Digital and Technology Officer at Air India, said.

Edited by Megha Reddy