Telegram founder Pavel Durov has announced that personal accounts on the chat app can now be converted into business accounts. This will allow small business owners to list information such as location and opening hours. Additional features for business accounts include organizing chats with color labels, automatic greetings or away messages, and shortcuts for quick replies. Telegram plans to launch more business features this month, including a way to integrate AI-powered chatbots for customer service. The chat app is competing with WhatsApp Business, which introduced many business-facing features last year. Telegram has been increasing its business through premium subscriptions, self-custodial crypto wallet, and auction of premium usernames. The chat app is also planning to launch its ad platform this month with a revenue-sharing program for channels.