IPO-bound Razorpay announced today that it has deepened its partnership with AI major OpenAI to help Indian brands advertise on ChatGPT.
Under the partnership, the company’s growth marketing platform, Razorpay Engage, will enable brands to prepare product catalogues, launch and manage campaigns on ChatGPT Ads.
Brands onboarded by Razorpay include Tanishq, Fastrack, Traya, Tata Neu, Rivaah by Tanishq, Shaadi.com, Axis Max Life, Palmonas and Narsee Monjee Institute of Management Studies (NMIMS).
Razorpay Engage will provide the technology and operational infrastructure for businesses looking to get started with ChatGPT Ads.
Its offering will include assessing catalogue readiness, improving and structuring product feeds, creating and managing campaigns, and measuring and optimising campaign performance.
The platform will also use an AI agent built around ChatGPT Ads best practices to help create and manage campaigns across different contexts where consumers may encounter a brand’s products.
The agent will monitor campaign performance and make ongoing adjustments, while Razorpay’s team will provide human oversight where required.
“The way people discover products is changing. The next customer may not search for a product or scroll through an ad; they may simply ask an AI assistant for help deciding what to buy. For businesses, we believe that opens up an entirely new moment to be discovered,” Razorpay COO Rahul Kothari said.
The partnership comes as consumer discovery of brands is shifting from traditional keyword-based searches on engines to conversational interactions with AI chatbots. An early trend of users describing what they are looking for to an AI bot, comparing options and refine their choices via subsequent conversations is emerging at the moment.
Source link
