Times Internet owned startup firm Haptik has set a target to achieve revenue of over Rs 300 crore from its artificial intelligence mobile application.
"Our entire work is done out of India, founders are Indians but we are incorporated in the US from day one for various reasons. Our goal is to clock a turnover of Rs 300 crore in the next 4-6 years," Haptik CEO Aakrit Vaish told PTI.
The company runs a personal assistant mobile application that helps its user book a cab, recharge mobile phone, find out nearby ATMs, bus stop, petrol pump, chemist etc by click of a button using artificial intelligence technology and partially human interface.
Times Internet group acquired majority stake in Haptik in April.
Haptik currently has 500 employees out of which 100 people are part of the core team for product, engineering, sales and marketing functions. Remaining 400 handle chat assistance for the mobile app.
"In the next one year, the company plans to double the headcount of the core team from 100 to 200, and increase the headcount of chat assistance team only by 20% because the focus is on scaling with technology and AI," Vaish said.
The company gets commission for each transaction facilitated by its Haptik application.
Haptik has now launched fifth version of the application, which and in-built mobile wallet that would allow users to complete commercial transactions with a single tap without having to leave the chat interface.
In the new version, Haptik has expanded partner base of over 25 categories with companies like Uber, Zomato, BookMyShow, Goibibo, Cleartrip and UrbanClap.
He said that using bots (software based artificial intelligence), Haptik app has resolved 85% of query and 15% was done by human beings.
"A year back 90% query were resolved by human support and 10% by the bots. It has reversed now. With this improvement, we are looking at 5 times growth next year and 15-20% growth month-on-month," Vaish said, adding the company is sufficiently funded to handle operations and expansion till 2018.
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