FintekNews is pleased to offer our weekly feature column 3 Questions. Each week, we feature a thought leader within a unique sector of fintech and ask them to answer just 3 questions for our audience in their vernacular. This week, we’d like to introduce you to Sriram Chakravarthy, Chief Technology Officer & Co-Founder of Avaamo, a deep-learning software company that specializes in conversational interfaces to solve specific, high impact problems in the enterprise. The firm is building fundamental AI technology across a broad area of neural networks, speech synthesis, and deep learning to make conversational computing for the enterprise a reality.
NAME: Sriram Chakravarthy
TITLE: CTO & Co-Founder
WEB ADDRESS: www.avaamo.com
What does your firm do/offer within the fintech sector?
Avaamo offers conversational AI for banking and insurance firms, as well as other enterprises like health care and telecommunications. Conversational AI allows computers to conduct full, back-and-forth conversations with people to make it easier and faster for them to access the information they are looking for – whether it’s a new vehicle insurance quote or a way to report their lost card. Avaamo’s technology can make those conversations happen in real-time and in more than 100 languages.
What area/s of fintech do you believe will grow the most in the coming five years?
AI is the new oil that fuels the next generation of innovation in fintech — whether it’s voice-activated assistance for people looking to open accounts, learning about the terms of a loan or using AI for better fraud protection. Whatever company that best deploys this technology will see a significant jump in their business.
The financial sector has often been resistant to change and beholden to legacy technology.
Consumers expect choice and another level of service and they aren’t going to tolerate waiting 20 minutes to handle routine business like opening an account or checking terms of a loan.
Financial institutions need to understand that value of technology like conversational AI and be able to use it intelligently especially solving the “last mile automation” and providing for quality and quicker services to their customers through newer voice and mobile channels. Just five years ago, the idea of a mobile-only bank was nonexistent, Now, almost every large bank has a version of a purely mobile bank.
Avaamo’s founder and CTO, Sriram Chakravarthy, brings over 15 years of engineering experience in designing massively scalable distributed software. Previously Sriram was Vice President of Products for the Social Computing division at TIBCO where he was responsible for building tibbr, TIBCO’s SaaS-based Social Computing platform.