Incedo, an IT services and consulting company, is betting big on chatbots, a computer programme to simulate conversation with human users, especially over internet.

Tejinderpal Singh Miglani, Chief Executive Officer, told BusinessLine that Incedo is currently helping a wealth management customer in North America build a Robo Advisory platform.

“Purpose of this is to help advisors (wealth management) do a better job. It is not to replace them (advisors),” Miglani said.

Incedo has been involved with chatbots in the past 6-9 months and has already undertaken 4-5 engagements in this area.

“For us while revenues are tiny (less than 0.5 per cent) in this space (chatbots), it is big thing from interest point of view. Nearly 20-30 per cent of our conversations (with prospective customers) are around chatbots, artificial intelligence, machine learning and natural language processing”, he said.

Miglani said today what was in the conversation stage would go into the product stage tomorrow. “We have started investing in chatbots”, he said.

So far, most of the chatbots, especially in financial services, are for operational use cases, Miglani said.

Incedo, which gets 40-50 per cent of its global revenues from the financial services sector, is primarily US-focussed.

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