The Bengaluru-based Fintech company Velocity recently launched ‘Lexi’ – India’s first ChatGPT integrated AI assistant. The company integrated the coming-of-age/ sensational AI advancement with its existing analytics tool–Velocity Insights.
In conversation about the product, Abhiroop Medhekar, Co-founder and CEO of Velocity.in stated, “At Velocity, we strive to provide leverage to eCommerce founders. 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.”
Velocity Insights is considered India’s largest eCommerce analytics platform, trusted by 3000+ Indian eCommerce brands to make well-informed business decisions. Brands utilizing Insights receive a daily business report on Whatsapp. Moreover, these brands can also access benchmarks to evaluate their performance against industry standards.
Velocity Insights helps D2C brands keep a tab on key business metrics like Net Sales, Orders, AOV, Ad Spends, CAC, etc right from their WhatsApp.
The company claims that leveraging this platform to its full potential for tracking metrics frees up as many as 3 hours from their work day—saving time for other business functions. This is huge for growing D2C brands that have enough on their plates to take care of.
ChatGPT–What is the hype about?
Released in November 2022, ChatGPT is an artificial intelligence chatbot developed by San Francisco-based AI research company OpenAI. Trained on a vast compilation of content and websites, mostly in English, the AI model disrupted the tech industry within a few weeks of its launch.
The model’s size, which surpasses the previous largest models by several orders of magnitude, and its high performance make it a popular choice among researchers and developers in the field of natural language processing.
Moreover, to make the best use of this AI advancement and provide convenience, Velocity integrated ChatGPT in the same Whatsapp interface making it super easy for them to use Lexi.
Speaking about Velocity Insights and the ChatGPT integration, Mohit Mohapatra, CEO and Founder of Naturepro added, “Since its launch Velocity Insights has helped our brand monitor revenue and marketing spends. Now with the ChatGPT integration, I am also able to leverage AI as a personal assistant whenever I need help with my business. For example, I have been leveraging the integration for writing copy as well as collating answers to questions related to performance marketing on a daily basis.” – as stated in their website blog.
Velocity Insights saves up time and democratizes access to analytics for Indian eCommerce businesses. In a short 1.5 years, Insights has sent over 6 lakh analytics reports.
Velocity.in is a Bengaluru-based startup that is reimaging financial services for India’s digital first businesses. The fintech startup offers a wide array of products including non-dilutive financing, credit cards, payments, and analytics to Indian eCommerce businesses. Since commencing operations in early 2020, they have worked with over 3,000 e-commerce businesses and have made over 1000 eCommerce investments.
