iWorld
Airtel, Jio turn to AI to improve customer service
MUMBAI: Every industry and player is adapting to Artificial Intelligence (AI) in today’s time and the Indian telecom industry isn’t far behind. In order to offer better customer service and experience, telcos like Bharti Airtel and Reliance Jio are turning to AI.
Bharti Airtel has teamed up with technology company Google to remove the complexities from its customer service experience. It has integrated AI-powered Google Assistant which responds to voice commands. This modification is said to cut down costs. Airtel was already using AI and Machine Learning to enhance customer experience through its MyAirtel application and airtel.in
Reliance Jio introduced the voice command feature on its MyJio application. In a recent report by Bank of America Merrill Lynch, it said that voice AI is a focus area for the Mukesh Ambani-led telco, and the AI-based voice command feature is working well for the telco.
According to an Economic Times report, Jio is also taking steps to develop AI-based products and solutions in-house. Jio's director and Mukesh Ambani's son, Akash Ambani, is building a team of professionals on AI and its multiple use cases for the telecom firm.
Speaking to ET, Greyhound Research founder, CEO and chief analyst Sanchit Vir Gogia said, “Efforts to automate customer service is already visible through apps. Airtel has already made sizeable efforts on this front and is seeing a good response on its MyAirtel app. It makes a lot of sense to adopt AI technology to automate given the cost of human interaction has increased 20-30 per cent.”
He added that Indian telcos need to make their subscribers use these features. “Airtel's app for self-service is well received. Jio's user base is different and they may not use such a feature as aggressively,” he said.
iWorld
Universal Music to sell half its Spotify stake, expand buyback plan
Ackman pressure mounts as label posts €2.9bn revenue and strong subscription growth
HILVERSUM: Universal Music Group has unveiled plans to sell half of its stake in Spotify and double its share buyback programme to €1 billion, signalling a sharper capital strategy as investor scrutiny intensifies.
The company said it will launch an additional €500 million buyback after completing the €500 million programme announced in March, taking the total authorisation to €1 billion. Proceeds from the Spotify stake sale will help fund the buyback and will also be shared with artists, in line with long-standing commitments.
The move comes amid pressure from billionaire investor Bill Ackman, whose firm Pershing Square Capital Management holds over 4.5 per cent of UMG. Ackman recently made an unsolicited offer valuing the company at around $64 billion to $65 billion and has argued that the label’s shares are undervalued.
As part of his proposal, Ackman suggested selling the entire Spotify stake to raise €1.5 billion after taxes and artist payouts, while also pushing for a US listing and changes to the company’s financial reporting structure. UMG’s board has instead opted to move independently, approving a partial stake sale on its own terms.
The decision also aligns with what is informally known as the “Taylor Swift clause”, a commitment made when Taylor Swift re-signed with the label in 2018, ensuring that any proceeds from Spotify stake sales are shared with artists on a non-recoupable basis.
With investor pressure building and strategic levers now in motion, UMG appears to be striking a careful balance between rewarding shareholders and reinforcing its long-term growth play in the streaming era.
