AI Revolutionizes Operations in India's New-Age Listed Companies
Listed new-age companies use AI to tune their daily ops engine
Image: The Economic Times
India’s listed new-age companies like Nykaa, Lenskart, Delhivery, and Meesho are increasingly integrating artificial intelligence (AI) into their daily operations. This shift aims to enhance efficiency, reduce costs, and improve customer experiences as they strive for growth without proportional cost increases.
- 01Delhivery utilizes AI for logistics optimization, reducing costs and improving customer communication.
- 02Nykaa's AI features include a skin scan tool for personalized product recommendations and enhanced marketing efficiency.
- 03Lenskart reports a 270 basis point improvement in employee costs through AI-driven store productivity enhancements.
- 04Meesho generates over 70% of its code using AI, significantly boosting order conversions and reducing delivery errors.
- 05AI's integration is seen as essential for achieving scalable growth while managing operational costs.
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Artificial intelligence (AI) is becoming integral to the operations of India’s listed new-age companies, as evidenced by recent earnings reports from firms like Nykaa, Lenskart, Delhivery, and Meesho. These companies are leveraging AI to enhance various operational aspects, including personalizing customer experiences, improving marketing efficiency, streamlining logistics, and optimizing customer support. Delhivery, for instance, employs AI across its logistics processes, significantly reducing costs and improving documentation handling. Nykaa has introduced an AI-powered skin scan feature to tailor product recommendations, while Lenskart has improved store productivity through AI-driven scheduling, resulting in a notable reduction in employee costs. Meesho has reported that over 70% of its code is AI-generated, which has led to a 22% increase in conversion rates through its voice-shopping agent. The overarching goal for these companies is to drive growth efficiently, demonstrating that AI can play a pivotal role in scaling operations without a corresponding rise in costs.
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The integration of AI in operations is expected to enhance efficiency and customer satisfaction across various sectors, particularly in e-commerce and retail.
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