Name - Sachin Jaiswal
Position - CEO & Co Founder
Organization - Niki app
DOB - 20th March
Place - Bangalore
In the 21st century, technological innovations have leaped faith ensuring innovative experiences. Gone are the days when things were done manually. Presently it's all about synching technologies into regular works of life and makes it hassle-free and quick. Keeping this in mind, a boy from a middle-class background aspired to solve real-time problems faced by the rural population. Even though internet penetration is the highest in India, 70 % of the rural population is unaware of its uses and productivity. This made Sachin Jaiswal an IIT Kharagpur alumnus, explore opportunities, bridging the gap between the internet economy and the rural Indian population. While exploring, emerged a product named Niki.ai, which synchronizes artificial intelligence for unlocking vernacular conversations of rural India.
Having his roots in Azamgarh and then growing up in a small town called Ichapur, West Bengal, Sachin Jaiswal had an ordinary childhood like most of the other boys of his age. He reminisces about his time when we used to move carefree without a purpose or a goal to be fulfilled. Destiny has a role to play and a scolding from his teachers in Class 7 for not knowing English moved him to learn and explore a language that seems so popular and recognized.
From having disappointments and failures in class 7 to cracking JEE Mains, Sachin's life travels a whole circle. One thing he got to explore is that anything is achievable given the hard work one puts in. Also, his exposure to different people back in college life helped him gain perspectives in everything which made him a person of hope and possibilities. He gets to understand there are problems around and how we can help by ensuring real-time solutions.
Niki.ai is the brainchild of Sachin Jaiswal and his friend. Being the CEO and Co-Founder, the platform seeks to solve the vernacular conversation problem through AI build setup. As Sachin quoted," Rural population still finds it difficult to adapt to this internet culture. The reason being the language. Most of the apps or technologies have English as their core language which stands as a barrier for the rural population. This is where we Niki.ai helps that portion of the population to get access to the internet through their very own language which they tend to speak and understand. It is fundamentally an artificial intelligence-powered voice conversational platform that has become a medium of online transactions for many. The app Niki is majorly composed of four languages namely English, Hindi, Tamil, and Bengali. It also tends to provide step-by-step instructions for completing a transaction. The online platform is now aiming at close to 7000 cr online transactions in the next two years. No doubt Niki has its own set of challenges. Being from a non-marketing background, Sachin initially started with a blank canvas but was supported by many in terms of operations, management, technology, etc.
The sole purpose of coming up with Nikki. in is to cater to the rural audience and solve real-time problems. This has much to do with adding value to the rural population who are still not fully aware of future possibilities of the internet which they are using. Sachin aims to tap on a market that is close to half a billion people having access to the internet. Roughly, he is trying to invest 108 billion dollars.
With an attempt of diversifying tech solutions for its target audience, Sachin is putting a strong emphasis on localization. It is more about understanding the common dialects which are used in the customer support modules. Also building a whole layer of gatekeeping enduring impeccable quality is another side of the same dream into which the app will be working on.
Popular names like Rata Tata, Ronny Screwalla were kind enough to support through an initial raise of 10 million dollars. These have worked as a catalyst for adopting newer and efficient technologies for the fulfillment of different queries.
Right now, the focus lies on adopting a module that will cater to getting product diversification, diversification rights, monetization rights, etc. Sachin is aiming at expanding the user base of Nikki to at least 2cr users and expanding it to 1600 towns from 160 towns.
Sachin's aims are similar to what Mahatma Gandhi once said, ``India lives in its village," He tends to change the inhibition of the rural population through structural as well as cultural reform. Challenging their core is not the solution, but making them comfortable with technological innovations is the main challenge. This is what makes Niki.ai successful even during a pandemic when it hits 400 percent net revenue because of its digitally-driven solutions. Digital was always there and because of Covid, it got accelerated.
As Sachin likes to quote it, " It is important to know your customers and what their problems are. This will give impetus to what you want to create. India is a hotbed of potentialities and 90% of it can be captured through quality innovation."
Getting recognized in India Fintech Award Demo Day was an overwhelming experience for the founders of Niki.ai. People started acknowledging the possibilities of emerging technologies and will try to include them for fruitful experiences.Crossing barriers like learning marketing, building on machine learning, setting operations were altogether some of the lessons which have a far-reaching impact on what Niki stands for today.
Sachin is trying to work more on neural language processing along with working on high-end machine learning solutions. He is planning to expand it to newer areas and is also aiming for including it in the education segment. The team is keen to add more Indian languages to its platform and is aiming to expand its scale of operations to around 5000 suppliers on its platform. He believes everything can be achieved once you know to explore more on solving real-time problems faced by the customers around.