Hyderabad’s Enixta Innovations, an Artificial Intelligence startup, has launched buysmaart.com – a product discovery platform that uses artificial intelligence to recommend the best phones for you.
Announcing this at a national launch media meet organized here in Hyderabad on Wednesday, Giri Devanathan, CEO and Founder of Enixta Innovations said Artificial Intelligence is the next major phenomenon in computing, and smart agents taking decisions on behalf of consumers will become common place. We have accomplished the formidable feat of creating an artificial intelligence engine that reads more than a million reviews, and automatically extracts meaning from these reviews to recommend the right phone for you, he said.
Elaborating further on the products and company, Giri Devanathan added that the Enixta is an artificial intelligence company that creates products to help you take the right decisions and thereby save time and money. Our first product – BuySmaart is a website that helps you make the right buying decisions. We have currently launched for mobile phones. What sets buysmaart.com apart is its personalized search method and artificial intelligence algorithms. Both features are unique to us and nobody can boast of, Giri emphasized.
With over 5,000 mobile phones variants, having over 50,000 technical specifications and over 1 million user reviews, the buying decision for mobile phones is very complex, Giri said. To simplify this, we used a combination of AI algorithms, personalization and a simple and intuitive user-interface. The buying decision can be decomposed into two steps – (1) What to buy (i.e. What is the best phone for my needs) and (2) Where to buy (i.e. which seller offers the best price/customer service etc), explained Giri Devanathan.
“We have built the best site for buying decisions – i.e. use combination of intuitive user interface, personalization, comprehensive data and artificial intelligence to provide the best place to discover and explore products, Giri informed. BuySmaart was developed over a few months’ time by an able and efficient team of ten. Our target customers are anyone who wants to buy a phone,” Giri said. “Currently, we are only in the Mobile Phone Category. In the near future we will expand into tablets, laptops, Cameras and Cars Giri informed. Our focus area right now is India, we will expand to other geographies in future,” he said.
In India e-commerce is expected to reach $10 bn in 2016. Assuming similar ratio of 20% in India for e-commerce affiliates, we are looking at about $2 bn in e-commerce revenues being driven by affiliates. Actual revenue of the affiliate is a commission of this sale. So that is an x% of the $2 bn which will be given to affiliates as commissions, Giri explained. (INN)