Over 2.6 million shareholders, can access the service on WhatsApp to +91-79771 11111 number that provides links to video tutorials and answers for important dates related to the issue, shareholder entitlement, trading in physical shares, sample forms etc.
Reliance’s conversational artificial intelligence (AI) platform Jio Haptik has launched a chatbot to answer shareholders on the Rs 53,125 crore rights issue, PTI reported citing sources. Mukesh Ambani’s Reliance is leveraging AI for the first time to assist shareholders in the Indian stock markets for its mega rights issue – largest in the history of India Inc. Over 2.6 million shareholders, can access the service on WhatsApp to +91-79771 11111 number that provides links to video tutorials and answers for important dates related to the issue, shareholder entitlement, trading in physical shares, sample forms etc. The chatbot launch comes weeks after Facebook, which owns WhatsApp, announced $5.7 billion investment in Reliance Jio.
The videos are provided in six languages including Hindi, English, Bangla, Gujarati, Kannada and Marathi while replies to queries are in English. Currently, WhatsApp has over 400 million users in India. Reliance’s rights issue was opened for subscription on May 20 and will close on June 3. Reliance Jio had acquired a majority stake in AI startup Haptik last year for Rs 230 crore and would invest Rs 430 crore over the following five years. Reliance has 87 per cent share in the chatbot maker firm.
While a spokesperson from Reliance declined to comment for this story as PTI reported but sources said that replies are same as FAQs on the issue posted by lead managers on traditional channels. Shareholders can send a ‘Hi’ message to activate the service. Out of over 75 replies, the most relevant answer is sent based on what the user picks among the intuitive questions.
Among the other 75 replies answered by chatbot includes a calculator on rights entitlement and monies therefore to be paid in the initial installment, how to trade the rights entitlement (trades were allowed till Friday, May 29), how to apply, payment methodologies etc. The chatbot is trained at scale and round the clock to improve its responses as it answers more queries.