India’s largest automobile manufacturing company Maruti Suzuki announces its plan to acquire artificial intelligence (AI) firm Sociograph Solutions.
With this acquisition deal, Maruti Suzuki will acquire more than a 12% stake in Sociograh Solutions for a sum of around Rs 2 crores.
The acquisition will allow Maruti Suzuki to further strengthen its technological capabilities to provide a better customer experience.
According to the company, this investment will help Maruti Suzuki in enhancing its customer offering by developing customized sales experiences on the web, virtual reality, and augmented reality.
Bengaluru-based AI company Sociograph Solutions was founded by Ananthakrishnan Gopal, Ashok Balasundaram, and Sriram P H in 2016. The company is best known for developing a patent-pending artificial intelligence platform named DaveAI.
The platform introduces the concept of Empathetic AI to assist organizations in efficiently managing their sales processes and augmenting customers’ product discovery experience. DaveAI can drastically boost conversion rates, optimizes product mix, and raises average order value per customer.
Moreover, DaveAI’s Interactive Infinite Virtual Aisle(IVA) (c) delivers advanced hyper-real time recommendations customized to each customer through digital assets in-store.
“AI is beneficial to the industry in applying insight gained over millions of purchases across the spectrum into creating design strategies that would increase key KPIs for the products,” said Dr. AnanthaKrishnan Gopal, co-founder & CTO of Sociograph Solutions.