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LONDON CHATBOT START-UP RAISES US$700,000
Cleo, the London-based Chatbot FinTech startup, was incorporated in November 2015 to help consumers manage their money more effectively. They have now raised a first round of US$700,000 from eight angel investors, one of which is the Skype Founder Niklas Zennström. Consumers can converse with Cleo through a mobile app, Facebook Messenger, Amazon’s Alexa and Google Home.
Barney Hussey-Yeo, Cleo’s cofounder and CEO, was quoted by TechCrunch as saying:
“We’re trying to reduce the complexity and increase the transparency of financial services for our generation. Cleo’s an AI financial assistant that makes managing your money incredibly simple. Using artificial intelligence and machine learning, you can ask Cleo nearly anything about your finances. There’s a clear arms race going on to become the financial interface for this generation. Taking the ownership and control away from banks will be amazing for the consumer but will also create oversized returns. This is Europe’s chance to build a Google- or Facebook-sized company.”
As predicted for some time, contextual dialogue will replace content as the primary interface for interactions. This revolution in interaction is a huge paradigm shift impacting every government and industry.
CHATBOTS TO STREAMLINE ANGEL INVESTMENTS AND VENTURE CAPITAL
A team at Gigster have prototyped a Chatbot designed to streamline the time it takes investors to filter out unsuitable proposals. It covers the basics such as who is on the founding team, what the market looks like, and how the idea has been validated. Though early days, the notion of improving investor productivity by using Chatbots to reduce the need for routine activities and filter out the noise is inevitable. Its another step towards productivity reinvention.
CHATBOTS ‘HELP’ IMPROVE YOUR INVESTOR PITCH
Entrepreneurs can use Pitchbot.vc to help improve their pitch to an investor. The Pitchbot.vc conversation is influenced by selecting one of the following options:
- Venture Capital
- Seed Fund
Choosing your option, enables the conversation flow to be more in context with the target type of investor selected. Though its early days, Pitchbot.vc engaged with 5,000 startup pitches in its first 24 hours of operation.
You can imagine Pitchbot.vc evolving to a model like a dating agency as there is money to be made by becoming an effective and efficient intermediary.
STARBUCKS LAUNCHES THEIR CHATBOT PREVIEW
Starbucks customers will soon be able to have a conversation with their Chatbot called MyStarbucks Barista. This service uses dialogue to streamline the ordering and payment of coffee.
Gerri Martin-Flickinger, Starbucks’ chief technology officer stated:
“The Starbucks experience is built on the personal connection between our barista and customer, so everything we do in our digital ecosystem must reflect that sensibility.”
MyStarbucks Barista is only available to 1,000 people before a nationwide release this summer in the USA. The launch of this new Chatbot is to reduce long lines in its stores that discouraged customers. Suspect that may require fine tuning the end-to-end process!