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Hyderabad's tech startup Equal has introduced Equal AI, touted as India's first AI call assistant. It will be available for free to Android users starting October 2 in Delhi NCR, with phased rollouts planned for Mumbai, Bengaluru, and Hyderabad. iOS support is expected later. Equal AI answers incoming calls, screens them, and can either take a message, provide a summary, or connect urgent calls to the user. It allows users to interact with callers indirectly by instructing the AI via voice commands. The app addresses the significant issue of spam, scam, and telemarketing calls prevalent in India, aiming to provide a seamless call experience and protect users from unwanted interruptions and potential fraud. The company notes over 60% of Indians receive three or more spam calls daily.
Impact: 7/10
Difficult Terms:
AI (Artificial Intelligence): Technology that enables computers to perform tasks typically requiring human intelligence, such as understanding speech, making decisions, and learning.
Spam Calls: Unsolicited and often unwanted phone calls, typically made for commercial advertising or fraudulent purposes.
Scams: Fraudulent schemes designed to trick people into giving money or personal information.
Telemarketing: The marketing of products or services over the telephone.
Caller ID: A telephone service that displays the phone number of the incoming call.
DND (Do Not Disturb) Registries: A system where consumers can register their numbers to opt out of receiving promotional calls.
TRAI (Telecom Regulatory Authority of India): The statutory body that regulates the telecommunications sector in India.
Consumer Needs: Requirements and desires of individuals when purchasing goods and services.
BFSI Tech Solutions: Technology solutions for the Banking, Financial Services, and Insurance sectors.
Account Aggregation: A process where a financial institution aggregates customer data from various accounts into a single view.