Snapdeal Partners AI-Powered Bhashini To Drive Digital Inclusion

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SUMMARY

Snapdeal has inked an MoU with Digital India BHASHa INterface for India (Bhashini) aimed at addressing the diverse linguistic landscape of the country

The partnership aims to leverage artificial intelligence to develop solutions catering to over nine vernacular languages with voice-first technology

At present, Bhashini supports 22 languages for text-to-text translations and 12 for voice-to-text in its repository

Ecommerce major Snapdeal has inked an MoU with the government’s AI-powered language translation platform Digital India BHASHa INterface for India (Bhashini) aimed at addressing the diverse linguistic landscape of the country.

The partnership aims to leverage artificial intelligence to develop solutions catering to over nine vernacular languages with voice-first technology.

“Through innovative use of AI and voice-first technology, we are determined to break down barriers, build greater digital participation, and create a more connected and inclusive digital ecosystem for all Indians,” said Bhashini’s CEO Amitabh Nag.

Bhashini was launched by Prime Minister Narendra Modi in July 2022. It is an AI-powered language translation portal, which creates an open data and open source platform that enables startups to create a diverse range of solutions for the government and build products on top of it.

“This initiative aligns seamlessly with our mission to enhance accessibility and affordability in online shopping, particularly in Tier III cities and beyond,” said Himanshu Chakrawarti, CEO at Snapdeal.

Last October, NPCI with Bhashini launched Hello! UPI, to allow users to make conversational payments in Indian languages. The new services by Bhashini under the NPCI were to be rolled out in 22 official languages.

Reportedly, Paytm is among the fintech firms in discussions with Bhashini for testing their system, with major announcements expected by the end of 2024. 

At present, Bhashini supports 22 languages for text-to-text translations and 12 for voice-to-text in its repository.

Founded by Kunal Bahl and Rohit Bansal in 2010, Snapdeal earns revenue by rendering services and delivering products through its ecommerce platform. The company and its subsidiaries including Unicommerce, Stellaro Brands have been consolidated under a group brand, called AceVector.

The New Delhi-based company claims that more than 86% of its orders originate from outside metro cities, with over 72% of buyers hailing from smaller cities and towns. Also, the company asserts 95% of the products sold in its portal are priced below INR 1,000, ensuring accessibility and affordability for a diversified consumer base.

Snapdeal’s parent AceVector managed to lower its loss despite the decrease in sales revenue. Snapdeal’s net loss narrowed 44.7% to INR 282.2 Cr in FY23 from INR 510.3 Cr in the prior year.





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Snapdeal Partners AI-Powered Bhashini To Drive Digital Inclusion


SUMMARY

Snapdeal has inked an MoU with Digital India BHASHa INterface for India (Bhashini) aimed at addressing the diverse linguistic landscape of the country

The partnership aims to leverage artificial intelligence to develop solutions catering to over nine vernacular languages with voice-first technology

At present, Bhashini supports 22 languages for text-to-text translations and 12 for voice-to-text in its repository

Ecommerce major Snapdeal has inked an MoU with the government’s AI-powered language translation platform Digital India BHASHa INterface for India (Bhashini) aimed at addressing the diverse linguistic landscape of the country.

The partnership aims to leverage artificial intelligence to develop solutions catering to over nine vernacular languages with voice-first technology.

“Through innovative use of AI and voice-first technology, we are determined to break down barriers, build greater digital participation, and create a more connected and inclusive digital ecosystem for all Indians,” said Bhashini’s CEO Amitabh Nag.

Bhashini was launched by Prime Minister Narendra Modi in July 2022. It is an AI-powered language translation portal, which creates an open data and open source platform that enables startups to create a diverse range of solutions for the government and build products on top of it.

“This initiative aligns seamlessly with our mission to enhance accessibility and affordability in online shopping, particularly in Tier III cities and beyond,” said Himanshu Chakrawarti, CEO at Snapdeal.

Last October, NPCI with Bhashini launched Hello! UPI, to allow users to make conversational payments in Indian languages. The new services by Bhashini under the NPCI were to be rolled out in 22 official languages.

Reportedly, Paytm is among the fintech firms in discussions with Bhashini for testing their system, with major announcements expected by the end of 2024. 

At present, Bhashini supports 22 languages for text-to-text translations and 12 for voice-to-text in its repository.

Founded by Kunal Bahl and Rohit Bansal in 2010, Snapdeal earns revenue by rendering services and delivering products through its ecommerce platform. The company and its subsidiaries including Unicommerce, Stellaro Brands have been consolidated under a group brand, called AceVector.

The New Delhi-based company claims that more than 86% of its orders originate from outside metro cities, with over 72% of buyers hailing from smaller cities and towns. Also, the company asserts 95% of the products sold in its portal are priced below INR 1,000, ensuring accessibility and affordability for a diversified consumer base.

Snapdeal’s parent AceVector managed to lower its loss despite the decrease in sales revenue. Snapdeal’s net loss narrowed 44.7% to INR 282.2 Cr in FY23 from INR 510.3 Cr in the prior year.





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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