(Reuters) – Chatbot creator [24]7 Inc expects its revenue to rise 30-35% to more than $400 million in its fiscal year ending March 2018, the company’s chief executive told Reuters.

Chatbots are gaining traction globally as these programs increasingly rely on artificial intelligence (AI) to analyze data and structure personalized responses that help drive sales and improve customer satisfaction. clients.

“We target customers who would visit a website, but not buy because they have a series of questions. We chat with them, generate revenue and then get a slice of it,” said co-founder and CEO PV Kanan.

Campbell, based in California [24]7 Customers Include Adobe Systems Inc ADBE.ORoyal Bank of Canada RY.TOScotiabank, Victoria’s Secret and American Airlines Cargo.

The company, which registers more than 40 million chats a year and offers services in Spanish and Mandarin, derives about 75% of its revenue from the United States and the rest from the United Kingdom and Australia.

Kannan said [24]7 intends to go public but declined to provide details.

The company, which became profitable at the end of 2003, last raised capital of approximately $22 million in the same year. The round was funded in part by Sequoia Capital.

The promise of chatbots is also attracting big names in tech.

From Microsoft Corp. MSFT.O at facebook inc FB.O, global tech majors are integrating artificial intelligence into these services to better serve customers. Today, there are also chatbots that can read human emotions and react accordingly.

Kannan, however, played down any threats to entry-level chatbot outsourcing jobs.

“Not all areas will be automated. And the BPO business is not going away,” Kannan said.