Rishi Raj Vashistha, a 23-year-old entrepreneur passionate for technology and AI, has announced the launch of a new e-commerce platform in India.
The platform will leverage AI technology to provide customers with insights into the manufacturing standards of products, helping them to make more informed purchasing decisions and avoid low-quality products.
The new e-commerce platform will feature a wide range of products from reputable brands, all of which will be evaluated using AI algorithms to determine their manufacturing standards. Customers will be able to see this information alongside product descriptions, making it easy to choose high-quality products that meet their standards. The new e-commerce platform is set to launch in the coming months, with a focus on the Indian market.
Vashistha, who has extensive experience in e-commerce and technology said that technology can be a powerful tool for solving real-world problems. Due to the increasing demand for high-quality products and growing interest of younger generation in AI and technology, platform will be successful, he added.
"I want to make the earth a better and healthier place to live, and I believe that technology and AI can help us do that. We believe that using AI to provide customers with insights into product quality is a game-changer," said Vashishtha, adding, "It's a win-win situation for both customers and manufacturers, as it incentivizes manufacturers to maintain high standards while giving customers the confidence to make informed purchases."
The e-commerce industry in India is poised for tremendous growth in the coming years, and companies that can adapt to the diverse needs of Indian consumers and provide exceptional customer experience are likely to succeed. It is expected to reach USD 111 billion by 2024 and USD 200 billion by 2026, and USD 350 billion by 2030, according to India Brand Equity Foundation (IBEF).
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( With inputs from ANI )
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