With the new normal coming into play, OWO Technologies Pvt. Ltd., realizing the need of the hour, has launched a micro delivery app OwO, dealing in essential goods delivery. OwO is a subscription based service, available on both, android and iOS platforms. With an initial funding on INR 5 Cr., OwO has started its services with delivering packaged drinking water across Gurugram.
Mr. Ajay Chhangani is the CEO of OwO Technologies. In an interaction with The Tech Pod, Ajay speaks about the role of IoT in the ecommerce industry. Read more!
Tell us something about yourself and what does your company do?
I’ve been a part of the industry for past 20 years. During the course of this time, I have founded a number of brands and successfully launched various new products while serving companies like Datapro, KarROX, RUMI, Usha Martin & Rise India. I have been involved in M&A activities as well as IT business from past 6 years. With the new normal coming into play and realising the need of the hour, OwO technologies Pvt. Ltd. has launcheda micro delivery app called OwO, currently dealing with delivering essential goods. OwO is a subscription-based micro-delivery service, available on both, Android and iOs App Stores. With initial funding of INR 5 Cr., OwO has started its services with packaged drinking water delivery across Gurugram and has plans to expand its reach to 600 cities within 2020-2021.
How important is AI important to your company?
AI plays an important role in technology driven initiatives and is acts as a key factor on saving time and resources. For our app also, we feel AI is taking care of a lot of calls to action, in the background. If there is an executive dealing with the issue, they might take 2 minutes to come to the real query and then deal with it. But with AI, we create chatbot and the time is reduced to 30 seconds from 2 minutes, that too through programming. So we are sure that if a user has a query, it will be immediately looked into and responded to. If a user’s query is not answered through a bot then the expert will come into the play, discuss the problem, and resolve it.
We are also planning to use AI-based tech in developing a full-proof inventory system. As we continue to grow, we aspire to upheaval the way inventory is managed. We intend to use real-time data time for series prediction and deploying reinforced learning systems to comprehend to user demand, supplier backorders, warehouse optimisation, stock levels.
How valuable is big data in directing a huge proportion of clients?
We launched OwO app on 10th June and in 20 days we have about 370 subscribers. As we further on this journey, we are constantly looking for ways to bring in more customers while retaining the existing ones. To improve the customer experience, we intend to implement Big Data to analyse user behaviour and trends. With Big Data, we plan to track and access consumer behaviour to make informed decisions. Big Data is so much more than understanding consumer behaviour. We further have plans to use it to make better strategic decisions, improved control of operational process and reducing cost.
By what means does AI help with making increasingly engaged and modified promotions?
With AI, we get to know our customer’s activities well. It allows us to get a deeper understanding of what customers are feeling, thinking, and saying about the brand. It enables us to communicate with our customers in the right manner. Once we understand the customer’s buying behaviour, their pattern, what they are currently using, on what application are they spending most of their time in, a brand can work backwards in improvising a very targeted communication and approach. For instance, if I know that my consumer spends 2 hours on Facebook everyday during the evening hours, I will engage and promote my brand during those hours only.
What does the Internet of Things mean for the future of the e-commerce industry?
IoT is the future of any industry, be it e-commerce, retail or supply chain. IoT-enabled devices exchange data with each other through the internet, helping retail and e-commerce businesses to carry on their operations efficiently. With the help of IoT, it becomes easy to keep a track of inventory. IoT sensors and RFID tags make management of inventory in real-time possible, streamlining the entire flow.
OwO is soon going to bring IoT-enabled water dispensers that will automatically give away water. We are also bringing IoT-based sanitizer dispensers that will automatically spray the needed amount of solution.
IoT further helps businesses to improve customer service, by reporting issues even before they are noted by users. This in turn helps e-commerce to anticipate possible complaints, leading to easy and prompt resolution and a smoother customer experience.