New Delhi: GenAI-powered conversational messaging platforms, such as WhatsApp, have the potential to drive more social media users to make online purchases, according to a report by Bain & Company and Meta.
The report also highlighted the growing user preference to leverage conversation platforms for daily tasks.
Arpan Sheth, Partner, Bain & Company said, “Although only 200 million of the 650 million Indians active on social media currently shop online, GenAI-powered conversational messaging platforms have the potential to bring the next 450 million consumers into e-commerce. Has the ability to."
The report also includes a survey of 7,800 consumers and 150 enterprises, along with interviews with more than 25 senior executives from various Indian industries.
It said 60 percent of large companies surveyed intend to boost investment in conversational experiences over the next 3 to 4 years.“We are seeing increasing spend and investment by generative AI businesses to enhance the end-to-end journey on these platforms, as well as a growing user preference to leverage the conversational platform for daily tasks,” Sheth said.
Among digital users, both experienced and inexperienced, more than half of respondents preferred to engage in transactions through conversational interfaces. This priority is particularly notable for repetitive tasks such as checking bank statements, making travel arrangements and settling utility bills.
Meta Head and VP Sandhya Devanathan said GenAI will be at the center of this vision and will empower businesses of all sizes in India, especially small businesses, to leverage its immense potential.
The report states that 95 percent of large enterprises are familiar with the generative AI landscape.“Generative AI is emerging as a top priority for businesses, with about 9 percent of enterprises surveyed in India being familiar with it, and more than 80 percent of enterprises planning to invest in Generative AI solutions within the next 1-2 years. Have been." it was added
The report also highlighted the growing user preference to leverage conversation platforms for daily tasks.
Arpan Sheth, Partner, Bain & Company said, “Although only 200 million of the 650 million Indians active on social media currently shop online, GenAI-powered conversational messaging platforms have the potential to bring the next 450 million consumers into e-commerce. Has the ability to."
The report also includes a survey of 7,800 consumers and 150 enterprises, along with interviews with more than 25 senior executives from various Indian industries.
It said 60 percent of large companies surveyed intend to boost investment in conversational experiences over the next 3 to 4 years.“We are seeing increasing spend and investment by generative AI businesses to enhance the end-to-end journey on these platforms, as well as a growing user preference to leverage the conversational platform for daily tasks,” Sheth said.
Among digital users, both experienced and inexperienced, more than half of respondents preferred to engage in transactions through conversational interfaces. This priority is particularly notable for repetitive tasks such as checking bank statements, making travel arrangements and settling utility bills.
Meta Head and VP Sandhya Devanathan said GenAI will be at the center of this vision and will empower businesses of all sizes in India, especially small businesses, to leverage its immense potential.
The report states that 95 percent of large enterprises are familiar with the generative AI landscape.“Generative AI is emerging as a top priority for businesses, with about 9 percent of enterprises surveyed in India being familiar with it, and more than 80 percent of enterprises planning to invest in Generative AI solutions within the next 1-2 years. Have been." it was added
