This partnership is a step forward in offering enterprises and brands the ability to upraise the digital experiences of their key stakeholders: customers, partners, and employees through best-in-class conversational artificial intelligence (AI) based Natural Language Processing (NLP) system.

Kore.ai is an enterprise conversational AI software platform and solutions company. It offers enterprise-grade, end-to-end, no-code conversational AI platform and AI-first solutions that serve as a secure foundation for enterprises to design, build, test, host, deploy and manage virtual assistants, process assistants and conversational digital applications for optimized customer, employee and agent experiences across voice and digital channels.

Kore.ai also brings with it an experienced and dedicated team to jointly accelerate product development and go-to-market (GTM) with Tanla in India and other focus geographies.

The conversational AI market is growing at a rate of - approximately 21% CAGR (source: Market Digits) while the Indian market itself is expected to grow at a rate of 25% CAGR (source: Gartner, Expert Interview). This outlook presents a huge growth opportunity in the conversational space.

Tanla's rich communication portfolio and a strong customer base coupled with Kore.ai's conversational AI capabilities and large development organization will position the duo as a leader, enabling enterprises to deliver advanced, highly intelligent, and personalized experiences to their customers across their brand's digital touchpoints.

Uday Reddy, founder chairman and CEO, Tanla Platforms, said, “The Tanla – Kore.ai business partnership is a key milestone in our pursuit to provide best in-class next-gen solutions to our enterprise customers. This partnership will provide cutting-edge AI solutions on Wisely Platform to help clients realize the value of truly omnichannel digital customer experiences.”

Wisely, which has been co-developed by Tanla and Microsoft, is a blockchain-powered cloud-based platform that connects enterprises and suppliers through a secure ‘express route', ensuring complete transparency and a single source of truth that results in immutable audit trails and zero dispute settlements.

Tanla Platforms, one of the world's largest CPaaS players, processes more than 800 billion interactions annually and about 63% of India's A2P SMS traffic is processed through its distributed ledger platform.

The company reported 11% fall in consolidated net profit to Rs 140.62 crore on a 3.6% decline in net sales to Rs 853.05 crore in Q4 FY22 over Q3 FY22.

The scrip fell 1.34% to currently trade at Rs 1322.45 on the BSE.