Computing platform company NVIDIA announces its new strategic investment partnership with conversational AI product developing firm Kore.ai. NVIDIA has invested in Kore.ai’s Series C funding round that raised the AI company’s financing to over $73 million.
This new partnership aims to develop new and innovative artificial intelligence-powered conversational solutions for enterprises operating in various sectors worldwide. Kore.ai noticed the rapidly growing demand for customer care solutions and hence wants to develop cutting-edge AI-enabled customer support solutions to help companies prove a better, quick, and reliable experience to their customers.
Industry general manager for financial services and technology at NVIDIA, John Ashley, said, “Expanding our relationship with Kore.ai will help us work towards the mutual goal of building domain-specific and real-time voice assistants with impressive voice quality that can be adapted by every company to represent their brand.”
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He further added that this collaboration would help organizations tackle key challenges involved in speech recognition. Kore.ai plans to integrate its technology with NVIDIA’s GPU accelerated SDK Riva to provide higher accuracy and low latency to end customers.
Both the companies will combine their expertise in natural language processing and speech artificial intelligence to bring in new innovations in the conversational AI domain. Kore.ai will use NVIDIA AI software to offer best-in-class performance customization options at a low cost to its customers.
Kore.ai is a United States-based AI software developing firm founded by Raj Koneru in 2013. The company specializes in developing artificial intelligence-powered conversational virtual assistants for many industries, including banking, IT support, insurance, HR, and many more. Apart from NVIDIA, the company has received funding from many investors like Sterling National Bank, PNC, and Vistara Growth.
“NVIDIA brings an industry-leading team and advanced AI technology. We will work together to expand best-in-class support to enterprise customers so that they can leverage conversational AI modules to power their customer and internal workforce applications,” said the founder and CEO of Kore.ai Raj Koneru.