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Sunday, May 28, 2023

WorkHack gets $1.5M to help businesses deploy generative AI

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WorkHack, a deeptech platform, has recently secured $1.5 Mn in a funding round co-led by Together Fund and Nexus Venture Partners. The funding will be utilized to assist enterprises in deploying generative AI, which is gaining popularity in the current market.

The recent funding round witnessed the involvement of The New Normal Fund and several other angel investors.

WorkHack, a company founded by Akshat Tyagi in 2021, purports to provide a safeguard against the potential hazards and intricacies of utilizing generative artificial intelligence in practical applications. According to sources, a deeptech startup is reportedly collaborating with multiple companies to facilitate the integration of artificial intelligence (AI) across various operations.

A new startup is providing businesses with customizable conversational agents through the use of pre-made templates. These agents can be deployed over various channels, including web, mobile, and messaging platforms like WhatsApp.

WorkHack, a company that initially provided AI services to clients in the recruitment industry for interviews using ChatGPT3, has reportedly expanded its reach to include multiple enterprises of varying sizes. The company has also ventured into the marketing-tech sector, offering solutions for conversions, consultation journeys, cancellations, habit formation, and lead qualification.

According to Tyagi, both Hubspot and Salesforce have made efforts to incorporate generative AI into their existing products, as reported by ChatGPT. WorkHack addresses the issue of responsible adoption scaling.

According to the speaker, their organization’s primary expertise lies in identifying the domains of human interactions that can derive substantial advantages from an apparently intelligent and logical technology.

OpenAI’s chatbot ChatGPT has taken the world by storm, coinciding with a recent development. Tech giant Google made an announcement last week that its competitor for ChatGPT, Bard, has been launched in 180 countries, including India.

The Indian government has implemented various measures to incorporate generative AI technology in diverse fields, including education and farming.

According to data from NASSCOM, there are approximately 416,000 professionals in India currently employed in the field of AI. According to estimates, the sector is expected to experience a growth rate of approximately 20-25%. According to reports, India’s economy is anticipated to receive a boost of $957 billion by 2035, thanks to the contribution of AI technology.

During the presentation of the Union Budget 2023, Finance Minister Nirmala Sitharaman announced that the government is aiming to establish a proficient pool of AI experts. According to the source, the fourth iteration of the Pradhan Mantri Kaushal Vikas Yojana is set to offer on-the-job training and courses that focus on emerging technologies like AI.

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