Startup
How AI-driven RCS business messaging can enhance customer engagement
Rich Communication Services (RCS) business messaging has emerged as an attractive communication channel for companies because of its advanced features and reach—available through the native mobile app.
The popularity of RCS among brands lies in its combined advantage of offering low-cost messaging along with media-sharing capabilities. It offers the potential to deliver a superior customer experience cost-effectively.
Further, Apple’s announcement to offer RCS on iPhone with Apple iOS 18 updates would lead to a major shift in its demand. As a result, RCS business messaging is expected to register exponential growth in the near future.
Additionally, RCS business messaging is set to evolve further with the integration of AI-powered chatbots. Generative AI (Gen AI) is revolutionising all industries alike. We have seen how the use of AI and chatbots in communication channels like WhatsApp and Facebook Messenger has enhanced customer engagement by enabling automated customer services, marketing messages, and sales support.
RCS already supports chatbots and offers much more than SMS chatbots. With RCS, chatbots can incorporate interactive features such as structured conversation flows, images and carousels, GIFs, suggested replies and actions, and the ability to seamlessly transfer the chat to human support when needed.
Benefits of AI-powered RCS business messaging
AI or machine-learning chatbots can engage in conversations that feel human-like because of their capabilities to recognise speech and text inputs. By leveraging technologies such as speech recognition, natural language processing (NLP), sentiment analysis, and machine learning, chatbots understand the user’s intent and respond appropriately.
Here’s how AI chatbots in RCS would benefit businesses:
Enhanced customer experience
Through chatbots on RCS, businesses can offer 24/7 support, personalised interactions, and streamlined processes like product discovery and order placement, leading to higher customer satisfaction.
With rich media features on RCS, AI can be used to deliver relevant educational videos in response to customer queries. Whether it’s for product registration, setup, technical support, or onboarding—these videos help speed up resolution times and provide a dynamic, engaging way for customers to get the required support.
AI is also invaluable for quickly providing customers with up-to-date information. For instance, if a customer wants to check their remaining data on a phone plan, they can simply message your AI chatbot on the RCS business messaging channel, which will retrieve the correct information from your databases and promptly update the customer with minimal wait time.
Lower operational costs
AI-powered RCS business messaging chatbots can manage a large volume of routine customer inquiries, allowing human agents to concentrate on more complex issues. It enables businesses to reduce operational costs while enhancing customer engagement services—all without sacrificing service quality.
Enhanced sales opportunities
Proactive product recommendations, special offers, and a streamlined purchase process directly within the messaging conversation can significantly boost sales. Customer service chatbots also aid in lead generation by collecting valuable behavioural data from customers.
For instance, if a customer seeks help with purchasing a specific product, the chatbot can guide them through the entire sales journey and offer recommendations based on their interests. The data collected helps businesses route leads to the appropriate sales team and reduce shopping cart abandonment.
Data-driven insights
Chatbots gather valuable insights into customer behaviour, preferences, and pain points by interacting with customers. When this data is integrated with a customer data platform and paired with a contact centre solution that presents this information to the agents, it enables businesses to deliver contextual customer service. It also empowers the chatbot to offer a more personalised experience, leading to faster resolution times and increased agent productivity.
Types of chatbots in RCS
With its flexible and extensive built-in features, RCS business messaging can support a wide range of chatbots—from simple, menu-based bots that help users find information to more advanced conversational chatbots, trained to understand natural language.
For each type of chatbot, RCS’s unique features can be used to develop an effective and engaging user journey. Businesses can also leverage advanced machine learning capabilities to offer customers controlled access to vast resources of information and services directly through the RCS interface on their mobile devices.
Conclusion
As AI becomes more prevalent in RCS, we anticipate that brands will integrate various kinds of chatbots to trigger actions at optimal moments throughout the customer journey.
This approach is expected to gain widespread traction in customer service, marketing, and sales automation for operational tasks, such as scheduling deliveries or managing payments. However, as the use of AI in RCS expands, it is essential to monitor these tools for potential sensitivity issues continuously.
Harsha Solanki, is the VP, GM – Asia at Infobip.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)
Startup
Magenta Mobility’s FY24 revenue rises three fold, losses widen by 17.1%
Magenta Mobility on Thursday reported a 199.5% jump in its full-year revenue to Rs 35.53 crore compared to Rs 11.86 crore in the previous year helped by a significant rise in its revenue from services.
The company provides a 100% electric fleet and AI and IoT-enabled fleet management and data analytics platform to optimise logistics operations and deliveries. Revenue from these services for the year ended March 31, 2024, increased to Rs 30.17 crore compared to Rs 10.15 crore in FY23.
However, the company reported a 17.1% increase in its loss for the period to Rs 46.44 crore as opposed to Rs 39.66 crore in FY23, bogged down by rising expenses during the year. The 109.1% rise in expenses to Rs 90.17 crore was primarily due to rising driver costs, employee benefit expenses, and finance costs.
Magenta Mobility appoints drivers on a contract basis to provide services to its customers, which it accounts as an expense. The drivers’ cost for FY24 increased to Rs 18.49 crore, compared to Rs 6.34 crore in FY23.
The rise in demand for the company’s fleet comes amidst a boom in the last-mile delivery sector in India owing to the rise of ecommerce and quick commerce players. Magenta Mobility caters to clients such as Flipkart and hyper-local delivery platform Dunzo, among others.
Founded in 2017 by Maxson Lewis and Darryl Dias, the company last raised $22 million in a Series A funding round from BP Venture and Morgan Stanley India Infrastructure-managed investment fund.
Startup
Juspay cuts losses by 7.7% as revenue surges 49.6% in FY24
Payments startup Juspay Technologies saw its losses narrowing in FY24 as revenue growth outpaced expenditure. It narrowed its total loss for the period to Rs 97.54 crore, down 7.76% from Rs 105.75 crore in FY23.
According to the consolidated financial statements accessed from the Registrar of Companies, the SoftBank-backed fintech firm’s revenue from operations surged 49.64% to Rs 319.32 crore, up from Rs 213.39 crore in FY23.
Juspay’s primary revenue source—payment platform integration fees—brought in Rs 286.52 crore. Additional operating revenue from services like product implementation and support added Rs 32.80 crore.
Total expenses rose by 29.52% to Rs 443.74 crore in FY24, compared to Rs 342.59 crore in the previous year. This increase was largely driven by employee benefit expenses, which saw a 41.73% jump to Rs 303.36 crore, while other expenses increased slightly over 3.56% to Rs 123.76 crore.
Juspay, founded in 2012 by Vimal Kumar and Ramanathan RV in Bengaluru, specialises in developing payment orchestration solutions that act as a technology layer over traditional payment gateways.
The Accel-backed startup has also developed Namma Yatri, a mobility app focusing on ride-hailing services, leveraging Juspay’s strengths in payments and open-source protocols. Namma Yatri is built on the Beckn Protocol and aligns with the Open Network for Digital Commerce (ONDC), aiming to provide low-cost ride-hailing options and open access to digital mobility services.
Recently, Juspay decided to spin off Namma Yatri as an independent entity to attract separate investors and scale further. In February, the company said it acquired LotusPay in an all-cash deal to strengthen its offerings to the BFSI segment and merchants.
LotusPay, founded in 2016, pioneered NACH Debit technology with cloud-based software for merchants and banks. Using NPCI’s NACH Debit, it facilitates recurring payments for loans, insurance, and subscriptions.
Startup
Flipkart selects five startups for third cohort of Flipkart Leap Innovation Network
Flipkart Leap Innovation Network (FLIN).
has selected five innovative startups for the third cohort of its flagship startup accelerator programme,The cohort is introducing startups that are driving advancements across GenAI, omnichannel, analytics, and video commerce, the company said in a statement.
The selected startups— Intelligence Node, Invenzo Labs, StoryBrain, Phyllo, and D-ID— are set to run pilot programs with Flipkart to develop solutions.
“The selected startups get access to mentorship, resources, and the opportunity to execute pilot projects within the Flipkart ecosystem, scaling their solutions to meet the demands of India’s digital economy and e-commerce growth,” the company said.
Since its launch in 2022, the accelerator programme aims to accelerate the growth of the startup ecosystem in India, driving collaboration, and championing cutting-edge retail innovations.
“Through the FLIN programme, Flipkart continues to expand its role as a catalyst for innovation within India’s startup ecosystem, providing a collaborative platform for startups to test, refine, and deploy solutions that can shape the future of e-commerce in India,” said Naren Ravula, Vice President and Head – Product Strategy and Flipkart Labs.
The programme is designed to engage with startups through commercial partnerships in Flipkart’s areas of interest. Successful startups get the opportunity to scale up to a business partnership.
Over 20 startups from the initial two cohorts have concluded pilots working closely with the Flipkart Product and Engineering teams.
The company added that four startups from the previous cohort— Anagog, Speedsize, Sangti, and Vtion— have recently concluded successful pilot projects with Flipkart.
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