Fintech Firm Velocity Introduces "Lexi", A ChatGPT Integrated Chatbot
Velocity, an Indian financial technology company, has introduced "Lexi," the country's first ChatGPT integrated chatbot. This latest AI development, according to the company, has been integrated with its existing analytics tool, Velocity Insights.
Velocity Insights users in India receive a daily business report on Meta-owned WhatsApp. Velocity accomplished this by incorporating the ChatGPT into the same WhatsApp interface.
Abhiroop Medhekar, Co-founder and CEO, Velocity stated in a statement, “Ever since ChatGPT launched, our product teams have been brainstorming on how it can be leveraged to benefit our founders. Since Velocity customers already use Insights on a daily basis, we integrated ChatGPT with the same interface that they leverage for driving business decisions."
According to Velocity, integrating ChatGPT with Velocity Insights will benefit e-commerce behemoths by providing AI-powered business solutions in a conversational manner. This will allow them to expand and free up critical business functions.
Meanwhile, according to a report, the Ministry of Electronics and Information Technology plans to integrate ChatGPT with WhatsApp to help Indian farmers understand and learn about various government schemes. Notably, The Indian Express reports that Bhashini, a Meity team, is testing the WhatsApp chatbot powered by ChatGPT.
Based on the report, the ChatGPT-powered WhatsApp chatbot will assist users by answering questions sent via voice notes. It will be especially useful for Indian farmers who are unfamiliar with typing on smartphones. It is worth noting that Microsoft CEO Satya Nadella stated at the World Economic Forum that Indian farmers would soon be able to use a GPT interface to access a government programme via the internet.
Furthermore, according to the report, Nadella was shown a ChatGPT model that powers the WhatsApp chatbot. However, because the AI programme currently works on inputs fed in English and lacks support for local languages, the integration of ChatGPT with WhatsApp for farmers may take some time. An official also told the publication that large datasets of various local Indian languages must be created in order to train the AI chatbot on them.