The propel enterprise artificial intelligence (AI), Kore.ai, a leading AI technology provider, has successfully secured a strategic growth investment of US$150 million. This funding is aimed at bolstering AI-powered customer and employee experiences for global businesses, marking a pivotal moment in the company's mission to simplify AI adoption and expedite enterprise outcomes. The strategic growth investment was spearheaded by FTV Capital, a prominent capital market company, and featured notable contributions from NVIDIA, Vistara Growth, Sweetwater PE, and NextEquity—existing investors in Kore.ai. With over a decade of leadership in the AI domain, Kore.ai is poised to reinforce its position in the dynamic AI market, driven by an unwavering commitment to advancing enterprise AI development.

The landscape of AI technology has witnessed unprecedented growth in recent years, driven by technological advancements and heightened customer expectations. As AI and machine learning technologies become increasingly integrated into daily life, the global AI market, valued at US$136.55 billion in 2022, is projected to exhibit a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030. Gartner's estimations further underscore this trajectory, predicting a staggering revenue of US$377 billion in the conversational AI market by 2032, up from US$66 billion in 2023.

Kore.ai's strategic investment aligns seamlessly with the rising demand for enhanced customer experiences and the proliferation of innovative General AI applications addressing specific business tasks. The company aims to deliver intelligent virtual assistants through its services, empowering customers to access answers and resolutions swiftly. By doing so, AI enables human workforces to channel their efforts towards more intricate and specialized tasks, signaling a transformative step forward in the enterprise AI landscape.