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Homegrown financial technology firm Velocity on Monday launched India's first AI chatbot integrated with OpenAI's ChatGPT, called "Lexi".

Velocity has integrated this latest advancement in artificial intelligence with its existing analytics tool, Velocity Insights.

Indian eCommerce brands that utilise Velocity Insights receive a daily business report on Whatsapp, which led the company also integrate ChatGPT in the same Whatsapp interface.

"Ever since ChatGPT launched, our product teams have been brainstorming on how it can be leveraged to benefit our founders. Since Velocity customers already use Insights on a daily basis, we integrated ChatGPT with the same interface that they leverage for driving business decisions," Abhiroop Medhekar, Co-founder and CEO of Velocity.in said in a statement.

The integration of ChatGPT with Velocity Insights empowers eCommerce founders by providing them with AI-powered business insights in a conversational manner, freeing up time for critical business functions, said the company.

"Since its launch Velocity Insights has helped my brand monitor revenue and marketing spends," Mohit Mohapatra, CEO and Founder of Naturepro, said in a statement.

"Now with the ChatGPT integration, I am also able to leverage AI as a personal assistant whenever I need help with my business. For example, I have been leveraging the integration for writing copy as well as collating answers to questions related to performance marketing on a daily basis," he added.

According to several reports, ChatGPT has reached 100 million users within two months and has clocked over 590 million visits.