“As part of the deal, the core team of AuthMe will join Airtel and be a part of Airtel X Labs in Bengaluru…In addition, Airtel has acquired the intellectual proprietary rights for two flagship solutions developed by AuthMe,” an Airtel release said on Wednesday.
In a bid to fortify its new-age portfolio, Bharti Airtel has acquired technology of artificial intelligence (AI) service provider AuthMe ID Services and its employees will join the company.
The telecom company neither disclosed the scale of the deal nor the size of the team acquired.
Airtel has set up Airtel X Labs to drive innovation in the areas of AI, Internet of Things, Augmented Reality and Virtual Reality and “is building a world-class team for the facility”, it said.
The latest move will augment Airtel’s initiatives to serve customers with new digital products.
“We are rapidly scaling up Airtel X Labs, our digital innovation factory, and these new solutions will accelerate our journey towards rolling out intuitive digital products, particularly in vernacular languages, for our 430 million plus customers,” Harmeen Mehta, Global CIO, Bharti Airtel said.
The two flagship solutions of AuthMe whose intellectual proprietary rights are acquired by Airtel are Callup AI and Fintech Optical Character Recognition.
While Callup has created a chat and voice assistant using power of AI to resolve customer queries over e-mail, chat and phone calls, Fintech Optical is designed for processing KYC documents, bank/credit card/loan statements, among others. – Money Control