This Bengaluru-based startup Worxogo set up in 2015 which provides an AI coach that claims to increase sales by 40% in 3 months of implementation has reportedly raised Rs 16.5 crore from Inventus India and Ideaspring Capital. The startup has an impressive client roster with heavyweights like Titan, TVS, Piramal Group, Axis Bank and ICICI. The startup’s flagship product Mia dishes out key advice based on the principles of neuro-economics and behavioural science.
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News reports indicate that the startup plans to use the funds to strengthen its AI engine – called Mia, a personal digital coach for employees and expand the market base to US market and other global markets.
The startup’s AI engine Mia, dubbed as the employees’ personal digital coach is a self-learning AI engine, with proprietary deep-learning algorithms to assess your employees’ individual performance, personality traits and uses predictive analytics to nudge, and improve their performance.
Essentially, the AI engine, built on a series of AI capabilities connects with the enterprise data, performs behaviour assessment such as understanding the employee’s preferences and workplace behaviour, their motivations and the proprietary algorithms helps guide employees to improve their performance and align KPIs with behaviour preferences. The startup claims it can deliver substantive business impact — for example, a 25 percent rise in sales, and higher productivity in employees.
So far, the AI engine is primarily used in sales and BPO functions, a news report indicates and the company is also in the process of filing a patent in the US. According to Ramesh Srinivas, CEO and co-founder of Worxogo, the platform, a cognitive engine can bring about significant change in employee performance in the near future and help align an employee’s personal growth with company’s goals.