Fashion e-tailer Myntra plans to turn its artificial intelligence (AI) and machine learning platfrom called Rapid into a separate business vertical, just like parent Flipkart.
Ananth Narayanan, CEO at Myntra, told the Mint newspaper that he expects Rapid to be a billion-dollar business by 2020.
“There will be private brands of Myntra that are actually done completely through Rapid. These are brands like Moda Rapido, Here&now, etc. Secondly, we expect to actually do brands jointly with other brand partners even globally and we are in discussions with them, using this tech and even distributing globally,” he said.
The CEO also said that the AI unit will have a new leadership structure, internal processes and team. He added that Manohar Kamath and Ambarish Kenghe are supervising Rapid’s growth.
In April this year, Ajit Narayanan, Myntra’s chief technical officer, had told VCCircle that AI and personalisation would remain the company’s core tech focus.
The online apparel seller is no stranger to futuristic tech. Its app already has elements of AI incorporated into it, using which it provides…