- Thai startup Amity Solutions develops cost-effective AI chatbots for businesses.
- The company plans to go public in 2024.
- Amity aims to expand globally through strategic acquisitions.
Chatbots get a Thai twist
Amity Solutions, a Thai startup founded by CP Group heir Korawad Chearavanont, is making waves in the AI industry.
Unlike competitors racing to build large language models, Amity focuses on practical, budget-friendly AI solutions for businesses.
Their flagship product, Amity Bots, offers an innovative approach to customer engagement, utilizing AI to interpret and respond to queries based on company-specific information.
From engagement to AI
Born from the employee engagement platform Eko, Amity has evolved through strategic acquisitions and in-house development.
The company’s AI Labs team, led by CTO Touchapon Kraisingkorn, leverages existing AI technologies to create cost-effective solutions.
Amity Bots, for instance, uses a caching system to reduce reliance on expensive LLM prompts, making it an attractive option for businesses seeking AI integration.
Following a recent $60 million funding round, Amity is eyeing a listing on Thailand’s stock exchange in 2024. The move could be a significant milestone for Thailand’s tech ecosystem.
However, experts like BCG X’s Hanno Stegmann note that Amity’s true test will be scaling beyond its home market and CP Group connections. As Amity explores global expansion through acquisitions, it faces the challenge of proving its worth in the competitive AIaaS landscape.
To read the original article: https://www.techinasia.com/ipo-bound-thai-startup-amity-builds-budget-chatgpt-firms
