Freshworks' New Step to Reinforce its Business
A US-based customer support platform for small and medium-sized businesses, Freshworks, associates with IIT Madras and would work with the Robert Bosch Centre for Data Science and AI to reinforce the potential of its artificial intelligence engine as the software-as-a-service unicorn. This initiative is taken to strengthen the predictive capability of its business software and also to help its clients improvise their business.
Freshworks collaborates with the centre to learn how to leverage AI to provide sophisticated lead scoring capabilities for its customers. The lead scoring is a process used to evaluate the enquiries that would, in due course, end in a sale. This collaboration would also check whether Freshworks' sales products could make recommendations that could elevate from the current standard of business and reach the next level.
The company is also looking forward to broadening its scope for sponsored research in other domains as well, such as IT management software, in-app chat platforms, service desk, and more. In the process of developing software in India and selling it across the globe, Freshworks is in search of software that depends on business intelligence from its existing data in order to obtain an edge over competitors.
Freshworks had launched its AI engine, Freddy in October 2018 as a channel agnostic omnibot to strengthen Google AI that would enable it to answer the customer queries and escalate the problems to humans with the context and chat conversations. The company's investments in AI concur with its aggressive expansion in Europe, UK, Australia, and France. Furthermore, Freshworks has also expanded in Japan by associating with Japan's regional software company OrangeOne Corp. The company also announced that its annual recurring revenue had exceeded $100 million, and so far, it has raised about $250 million in funding.