This Startup Is Transforming Customer Experience With AI The San Francisco-based company boasts that it helps businesses transcribe every interaction with high accuracy and coach agents while gaining full visibility into their customer service operations
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
It has been an ongoing debate from the time computers have found their place in every household that machines will take over humans. While technology has only brought more efficiency to the table with next to zero error, taking over humanity seems to be a far-fetched conspiracy. One has to understand technology will take over arduous tasks, allowing humans to work on more complex work that even advanced machines will fail to do.
Call centers are one of the significant examples of how technology has not only helped to deliver a better customer experience but has also propelled the company's growth. Observe.ai is one of the front-runners in the conversational chatbots space that is helping companies from both new age and traditional companies to adopt the power of artificial intelligence to get better results.
What is Observe.ai?
Founded by Swapnil Jain, Akash Singh, Sharath Keshava in 2017, Observe.AI claims to transform customer experiences and improve agent performance by helping top brands analyze 100 per cent of interactions, extract actionable sentiment and interaction insights, and streamline workflows.
The San Francisco-based company boasts that it helps businesses transcribe every interaction with high accuracy and coach agents while gaining full visibility into their customer service operations.
Observe.AI brings the power of agent assistance, automatic speech recognition, and Natural Language Processing (NLP) to modern contact centers and their frontline teams.
"We believe that AI will rehumanize contact centers and help agents connect more deeply with customers while focusing on higher-value work. With technologies like Natural Language Processing and automation, have helped drive efficiencies and scale, we are entering an era where they will now unlock insights to improve customer care, help agents personalize the experience, predict unmet customer needs, proactively coach and enable agents, and better protect customer data," said Swapnil Jain, co-founder and chief executive officer of Observe.ai
He believed that contact centers will spend less time listening to and scoring calls and more time up-skilling teams, helping agents meaningfully connect with customers, and acting on the insights they uncover to innovate and differentiate with their customer experience.
The Impact
The Series B funded startup has to date added more than 160 customers and helped them drive results such as an 87 per cent increase in quality assurance efficiency, 17 per cent improvement in a heavily measured contact center metric known as Average Handle Time (AHT).
Some of the marquee clients that the firm handles are National Debt Relief, ERC, Beyond Finance, Root Insurance, and Public Storage.
As per Jain the startup also works with a global provider of risk management products that serves 300 million customers worldwide and needed a better way to manage its customer service interactions to protect customer data and reduce customer frustration.
"With AI-driven interaction monitoring and analysis, the provider gained 100 per cent visibility into its interactions and caught 13 fraud attempts along with 24 unauthorized payments. By catching this in near real-time, the provider prevented thousands of dollars in monetary losses and a damage to its brand reputation," he added.
Pandemic & Future
Though the pandemic wreaked havoc across industries and brought down growth figures, companies that were enabling digital transformation saw their numbers grow unhindered. Jain said that though initially, they were planning to move into a much larger office in San Francisco, the pandemic halted the process, and the team adapted remote working.
"Thanks to the dedication and hustle of our team, we've continued to drive high-growth throughout the pandemic and can really relate to the challenges our customers have faced onboarding and enabling agents who work hybrid or remote,"he added.
In the future, the startup intends to further invest in its go-to-market and technology teams to deepen the impact of AI across the contact center.
"The last two years have been focused on agent performance and coaching as a key strategic area of optimization. The next two years will progress our vision within this existing investment while broadening our reach to tackle new contact center market problems," he concluded.
