A Sydney start-up that sells artificial intelligence agents to some of the country’s biggest technology companies has banked a $100 million valuation, but its chief executive refuses to be seduced by the hype around AI as the solution to all customer problems.

Lorikeet builds AI-powered agents used to perform customer service tasks by high-profile online health start-up Eucalyptus, crypto gaming platform Immutable, and US financial services company Step. It was founded in 2023 by Steve Hind and Jamie Hall, who formerly worked for Stripe and Google respectively.