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Flipkart has announced the acquisition of a majority stake in Minivet AI, a fast-growing artificial intelligence and machine learning startup founded in 2024. This acquisition indicates Flipkart's interest in integrating generative artificial intelligence into its operations, amid the trend of increased AI-assisted e-commerce.
In a situation where videos, visuals, and semantic search are increasingly becoming a major force in online product analysis and purchase, the company is making this step to strengthen Flipkart’s internal resources.
Minivet AI focuses on developing the capability for the creation of videos, which helps retailers turn their static product catalogs into dynamic videos, making them shoppable. By leveraging the efficiency of their model lineup, Minivet AI states that videos can be produced at a significantly lower cost compared to the cost involved in traditional video production.
Apart from video creation, Minivet AI has a set of tools that is full-stack, offering GenAI solutions such as tools for immersive discovery, understanding, and enhanced customer engagement.
This makes the start-up a foundational technology partner, enabling it to go past the image-description type of listings.
According to Ravi Iyer, senior vice president, Corporate at Flipkart, the acquisition brings both niche talent and proprietary technology to the company. “Acquiring Minivet AI boosts the core GenAI capabilities of the company by incorporating niche talent and proprietary technology such as catalog videofication and semantic search,” said Iyer.
The key capabilities listed above assume even greater importance in addressing the emerging trend of ‘Visual-First and Video-First Commerce’ that the industry is experiencing. This has resulted in increased customer engagement and innovation at Flipkart.
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The partnership between Flipkart and Minivet will be the driving factor behind the global trend of retail experiences fueled by AI in the future.
Through the AI technology of Minivet, Flipkart will be ready to move its retail experience to more interactive and immersive e-commerce journeys, to be a leader in the global digital evolution.
