American AI platform Sprinklr looks at India as a key growth market, allocates $45 million for R&D in H1FY24

American software company Sprinklr, which recently launched a new AI-powered system that provides companies with a unified management platform where they can listen to, reach and engage with their customers, sees India as a key growth market. “In the last financial year, we have seen an impressive 42% annual growth in Growth Markets, which includes India. We have been operating in the country since 2012 and have more than half of our employee base here. Our R&D sector is also located in Gurugram, and is the breeding ground for all our innovations,” Ragy Thomas, CEO, Sprinklr, said.

Thomas adds that the company has allocated $45 million for R&D in the first half of the fiscal year, marking a substantial 21% year-on-year increase and underscoring our commitment to innovating from India, for India, he said.

The company’s AI platform enables companies to derive real-time actionable insights from tremendous amounts of raw data and is being used by some iconic global brands including Cisco, Nike, and Microsoft and in India Sprinklr has already onboarded clients like boAt, HDFC Bank, and Vi (Vodafone Idea).

Thomas currently is working on building a very different category of AI-powered enterprise software. “We call it Unified-CXM, and it is designed as an operating system for every customer-facing team to harness their brand’s digital edge, with an emphasis on real time customer engagement. This is where Sprinklr’s AI capabilities come in, assessing whether customer reviews are trending negatively to a new product or update,” he said.

Sprinklr also helps a brand identify, understand, and address an issue before an issue becomes a brand crisis. “We are the only solution that was born digital and designed to provide the governance, security, and scalability that enterprise customers demand,” he said.

He adds that Sprinklr AI+ enables enterprises to capture this ocean of conversations happening about their brands online and in real-time, analysing these vast amounts of data in record time and providing actionable insights. “Our key industry verticals globally include banking and financial services, telecom, airlines, FMCG, luxury brands, and automobiles. In India, our focus aligns with a similar portfolio, involving significant partnerships with public sector entities,” he said.

The company is also seeing heightened traction in the Indian market in the banking and financial services sector - evident in HDFC leveraging Sprinklr for all its operations, including contact centre and service functions. “We are also actively involved with e-commerce and direct-to-consumer brands,” he adds.