Info Edge, the parent firm of Naukri, Jeevansaathi and 99Acres, has seen a rapid expansion in its Artificial Intelligence (AI) capabilities, with its dedicated team growing from just 20 members to 100 over the past two to three years, according to Managing Director and CEO Hitesh Oberoi.
This investment into AI is already paying off, delivering a 10-20 percent boost in performance across its AI-powered solutions, he added.
Speaking about the impact of this strategic shift, the CEO highlighted, “We are deploying a lot of AI to improve our search experience, to improve our recommendations, to personalise our platforms a lot more than earlier. We’ve seen tremendous returns from our AI investments. Wherever we are deploying AI, we’re consistently achieving a 10-20% ‘kicker,’ meaning significant uplift in efficiency and impact."
"This growth is not just about numbers, but about positioning Info Edge to capitalise on next-gen technology to drive better outcomes for our users and clients.”
Info Edge, known for platforms like Naukri, Jeevansathi, and 99acres, has increasingly embraced artificial intelligence as a cornerstone of its strategy to enhance user experiences, optimise job-matching algorithms, and streamline operational processes, the team highlighted during the earnings call to discuss the July-September quarter results (Q2FY25).
Oberoi elaborated on how AI is already transforming their core platforms, noting, “Whether it’s improving job recommendations on Naukri or enhancing user experience on 99acres, AI has become integral to delivering smarter, more tailored solutions to our customers.”
For instance, on Shiksha, the team is developing an advanced chatbot with personalised counseling capabilities. "Our goal with Shiksha’s new chatbot is to go beyond answering questions—it will help students navigate their academic paths by understanding their unique profiles and preferences," the spokesperson added. The tool is envisioned as a virtual career counselor, assisting students in choosing courses and institutions best suited to their goals.
On Naukri.com, the company is experimenting with AI-powered resume generation, aimed at giving candidates personalised, job-specific resume suggestions. "We're exploring generative AI in resume creation, tailoring it to job roles so users can present themselves better and increase their chances with employers," he said.
For 99acres, AI is used to enhance property search, recommending homes based on users' preferences and browsing history. Additionally, Jeevansathi uses AI to personalise matchmaking by analysing user behavior, preferences, and compatibility factors.
The CEO also hinted at ongoing efforts to expand AI applications further, sharing, “The next step is to see how AI can bring even more precision and insight, especially in areas like data-driven matchmaking and predictive analytics.”
ALSO READ: Info Edge Q2 profit slumps 65%, revenue rises to Rs 700 crore
On Friday, Info Edge reported a 64.6 percent drop in consolidated net profit to Rs 84.73 crore in the second quarter of the financial year (Q2FY25), year-on-year.
Sequentially, it was down by 67 percent from Rs 258.85 crore in the April to June quarter, according to an exchange filing by Info Edge.
Revenue from operations reached Rs 700.82 crore, a 12 percent rise year-on-year (YoY) and up 3.5 percent sequentially from Rs 677 crore.
On a standalone basis, Info Edge's net profit was down 59 percent to Rs 86 crore while operating revenue recorded 11 percent growth at Rs 656 crore for the quarter under review.
"The recruitment business continued the uptick in Q2, whereas non-recruitment businesses also continued to grow with reduced operating losses. Revenues growth in the recruitment business was 8.5 percent year on year and for non-recruitment business verticals namely 99acres, Jeevansathi, and Shiksha was 16.9 percent, 33.4 percent, and 9.7 percent, respectively. Billings for the company on a standalone basis for the quarter grew by 14.3 percent year on year and stood at Rs 650.3 crore," the firm said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
