PhonePe integrates ChatGPT: Indian users get AI-powered assistance in-app — here’s how it works
Digital payments giant PhonePe on Thursday, November 13, announced a strategic collaboration with OpenAI to integrate the popular generative Artificial Intelligence (AI) model ChatGPT into its ecosystem.
With this move, AI-powered assistance will become widely accessible to millions of Indian users across the payment platform ecosystem, including the PhonePe app, PhonePe for Business and Indus Appstore.
This announcement comes just a month after Walmart-owned PhonePe filed draft documents for its Initial Public Offering (IPO) through confidential pre-filing. Mint It was previously reported.
How will PhonePe’s ChatGPT integration work?
The main objective of the partnership is to expand the reach of generative AI in India’s digital ecosystem. By incorporating ChatGPT’s capabilities directly into the PhonePe platform, users across the country will be able to get AI-powered assistance for a variety of common daily tasks.
The feature will cover activities such as travel planning, shopping, and general knowledge discovery, thus improving the user experience on the platform by offering “smarter and more relevant” information, the company said in an official press release.
We’re accelerating the adoption of AI in India
The collaboration is one of the first large-scale efforts to deploy ChatGPT on a major Indian consumer platform, marking a significant milestone that could accelerate the adoption of AI in the country. As AI tools continue to gain traction among digital users, opportunities for new use cases open up further.
Speaking at the launch, PhonePe Founder, Whole-Time Director and Chief Technology Officer Rahul Chari said: “At PhonePe, we have spent years building the foundational layers for population-scale digital services. This strategic alliance demonstrates that collaborations between innovative companies in this space can help expand the reach of advanced technology to the broader population. We are excited to partner with OpenAI to begin this journey.”
Adding to Chari’s comments, OpenAI International President Oliver Jay said, “Our collaboration with PhonePe is a major milestone in our mission to make AI more accessible to people across India. India is a global hub for innovation, and PhonePe’s deep understanding of the country’s makeup and user base makes them the ideal partner. This partnership will help millions of users improve their daily lives by demonstrating the tremendous value of consumer AI across India.”
PhonePe IPO details
According to a Mint According to the report, PhonePe is expected to increase ₹11,000- ₹12,000 crore largely through an offer of sale.
The offering will consist of a mix of offers and new issues, with the latter accounting for only a small fraction of the overall size.
The company had been preparing to go public for several months before filing draft documents. In February this year, the digital payments platform appointed JP Morgan, Citi India, Morgan Stanley and Kotak Mahindra Capital as merchant bankers to manage the IPO. It transitioned from a private company to a public company in April.
However, the firm also said: “The submission of PDRHP does not necessarily mean that the company will undertake the IPO.” Mint reported.
