In 2019, during a corporate innovation demo day, DaveAI demonstrated what they called A Dave New World – nothing but a mini Metaverse for a large automobile brand where users can discover & purchase products. With the concept of Metaverse gaining momentum, various global brands are looking at tapping into this trend. Recent releases from H&M, Nike, etc among many others showcased their vision of the Metaverse. Many more brands are trying to create a proof of concept of what they believe their brand would be like in this new paradigm. DaveAI’s virtual sales avatars intend to be these brands’ digital ambassadors in this new realm.
The most important differentiator of Dave-enabled universes is Virtual AI Avatars that represent brands in these spaces. These avatars are powered by a proprietary sales brain that can be trained on product features and come with an inherent understanding of sales conversations. The Sales brain is powered by an online learning genetic algorithm that ensures the avatar gets better at product pitches with minimal human intervention. This truly enables brands to look at Metaverse as a strong additional channel.
The platform has already seen significant traction with more than 20+ enterprises predominantly from India where Dave’s virtual avatars are being leveraged in Automobile, Banking, and Retail. DaveAI in their latest annual general meeting announced its plans to tap into global markets enabling enterprises to deploy digital humans in any Metaverse. DaveAI launched its legal subsidiary in Singapore in 2021 to increase focus in the South East Asia market. The technology platform company in the coming years has a roadmap to expand its presence to ten countries in the next 5 years while the immediate focus will be South East Asia & North America. DaveAI recently onboarded 2 key customers from North America and is currently operating in the region through a branch office. DaveAI will renew its focus on North America in 2022.
In a conversation during a recent event about the Future of Fashion hosted by DaveAI, Dr. Ananthakrishnan Gopal, Co-founder & CTO of DaveAI opined on how we are at an inflection point amidst the transition from web 2 to web 3. From the possibility of publishing content online on the worldwide web to having centralized access to all information on the internet, we are now moving to a decentralized web world. The possibilities are numerous, and we have not even scratched the surface. With DaveAI, his team’s vision is to democratize AI in the context of sales experiences in this new decentralized world without gatekeepers. DaveAI as a platform has a vision aligned with that of web3 enthusiasts to move away from a web world controlled by a handful of companies who provide services in exchange for your personal data. DaveAI will enable individual developers, small services companies without AI skillsets, and IT organizations of large enterprises themselves to create intelligent applications.
DaveAI has generated 75% of its revenues from India in 2021 and has a strong global pipeline improving the global share of revenues to 50%. In 2021, DaveAI also signed go-to-market partnerships with a few select system integrators and agencies in markets like the Middle East, Canada, and Indonesia resulting in a 300%+ yoy ARR growth.
DaveAI enables enterprises in Automobile, Lifestyle Retail, and BFSI to create next-generation sales experiences powered by digital sales humans. The platform brings conversation & visualizations together delivering >50% improvement in engagement resulting in 30%+ improvement in sales metrics.
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