#BigDaily: Khatabook:$25mn; Maruti goes back to basics
October 1, 2019
3 min read
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A new study tested eight out-of-the-box AI algorithms to compare how humans and machines recognize emotions. According to its results, AI outmatches humans when it comes to such emotional expressions as happiness or sadness.
In the study, both people and algorithms had to recognize six different emotions in facial expressions: happiness, sadness, anger, surprise, fear, and disgust.
Human participants showed an accuracy of 73 % on average, while that of the eight participating algorithms considerably varied, ranging from 49 % to 62 %.
The company has 2.9 million monthly active businesses on the platform and has so far raised $29 million in total.
Khatabook, which recorded transactions totaling $3 Bn in August, effectively cuts down the receivables of merchants to half within a few weeks of onboarding them. The app has helped its users recover approximately $ 5 bn stuck in credit in the space of six months. This trend can lead to a significant impact on India’s MSME sector.
Growing by 20% every week and having established its functionality across more than 500 types of business – from kirana stores to mobile recharge shops, garment dealers and jewelers – the company aims to reach the businesses of 25 Mn Indian merchants in the next 12 months.
Priced between ₹3.69 lakh to ₹4.91 lakh, S-Presso is the first entry-level hatchback from Maruti after the launch of Celerio in 2014. Maruti will also export this product to countries such as South Africa, Sri Lanka and the ones in the ASEAN and Latin American region.
The company has invested ₹640 crore for developing the product.