The spokes people of Maruti Suzuki announced on May the 23rd that the company is set to acquire a 12.09% share in Sociograph Solutions which is an artificial intelligence platform. The deal is set to be worth around Rs. 2 crores.
Sociograph Solutions is a start-up specializing in visual representation using the art and science of artificial intelligence. The company works with other businesses to showcase their products and services using the power and potential of artificial intelligence. This will not only help increasing growth and boosting sales of the company, but will also make the business more efficient and will also save them a lot of money. The company is looking to democratize and normalize the use of artificial intelligence in the country. Sociograph Solutions was founded 6 years ago back in 2016 and its head office is situated in Bangalore.
The spokes people of Maruti Suzuki said that this acquisition will help the company to improve their showcasing to potential customers and also improve the overall experience of the potential buyers by customizing the sales according to their individual likings. With the use of virtual and augmented reality as well as many core concepts of artificial intelligence, the entire experience for buyers is set to be revamped soon.
Maruti Suzuki is one of the most established automobile companies, not only in India, but in South Asia as a whole. The company currently has the largest market share of automobiles in India. The company was able to see the rise of the middle class in the country and now produces cars for the largest financial class in the country.
For the fiscal year that ended in 2022, Sociograph Solutions, the company was able to earn a revenue amounting to Rs. 3.03 crores. Compared to their previous year where they earned Rs. 1.02 crores, it is safe to say that Sociograph Solutions have been able to grow consistently and investing in the company is a safe and smart bet.
Digitization, along with artificial intelligence has been lacking in India compared to other western countries and even Asian countries like China and South Korea. But ever since the middle class rose and budget smartphones took over the country, the people of India have gotten used to digitization and artificial intelligence. It seems to be the perfect time for a company like Maruti Suzuki to switch their sales and marketing strategy to adapt to a more modern and digital world.