Slang Labs, founded by two cofounders of Facebook-acquired Little Eye Labs, along with Satish Chandra Gupta offers a voice SDK to ecommerce platforms
The SDK is built around natural language processing and enables a multilingual in-app voice assistant product for clients such as BigBasket and others
In terms of trends in vernacular usage, Slang Labs says consumption is still higher in English but interactions are going up in regional languages as well
“If a user has given any data, the app will extract that as entities as data points, extraction and conversion are done then,” Rangarajan said.On the monetisation model, Rangarajan said, “The pricing is based on a monthly Slang Users basis, where the client pays per unique user of the voice medium. We charge anywhere between INR 2- INR 8 per user per unique user in a month.” Essentially, the company earns every time a customer uses Slang Labs to order via Voice.“We see consumption continues to be English but customers want interactions to be in vernacular language.”
As the market in metros and Tier 1 India reaches the saturation point for ecommerce companies, the next growth avenue will come from the massive base from smaller cities and Tier 3 and Tier 4 locations. Recently, Fireside Ventures’ Vinay Singh told Inc42 that to crack the so-called Bharat market, the key points are — engagement through video, vernacular content and voice interactions. And while video-based vernacular content and ecommerce platforms are more or less covered, regional language voice capabilities can be the next space for innovation.