The temptation to adopt the latest technology—to jump on board with the next big thing—can be very intense. It can also be detrimental, if the adopted technology doesn’t pan out. As Loyalty360 has noted in the past, technology can’t solve strategy and process problems. Those have to be worked out before new tech can be put to good use.
 
However, when something truly innovative comes along, we feel the need to discuss it. That’s why we’re covering the launch of AI Blueprint, a conversation analysis system that identifies intelligent virtual assistant (IVA) use cases and accelerates automation. Verint Systems, a tech supplier that works to deepen customer engagement, is behind the new solution.
 
More than 30 percent of business executives believe that IVAs are the AI-powered solutions likely to have the largest impact on their businesses. AI Blueprint is designed to unlock the potential of conversational data and return specific insights for achieving organizational goals. The system then delivers a “blueprint” of how and where businesses can get started with AI or continue to grow their AI capabilities, reducing risk and leading to improved operational efficiency and faster ROI.
 
In a recent discussion with Loyalty360 on the subject of the new tech, Tracy Malingo, SVP of Product Strategy at Verint, said, “Friction between the enterprise’s need to balance automation and experience is something that we talk a lot about when we’re engaged with organizations, and this was the genesis for the solution that we’re launching, AI Blueprint. We’re filling the gap between, ‘Should I be considering AI to support customer experience?’ and ‘What are the use cases that will be the most successful for my enterprise and my customers.’” The point of the technology, Malingo maintains, is to remedy this gap.
 
She provided an example to illustrate what AI Blueprint can do. “Based on our years of experience, robust intent library, and proprietary tools, we understand that there are conversational attributes that lend themselves to intelligent automation, things like sentiment, dialogue turns, workflow, and tone sampling,” she said. “Given these considerations, we ingest structured and unstructured data from the client and layer that with business goals to advise clients on which conversations may be a challenge to automate and which can be successful.”
 
The technology functions by engaging in a two-factor analysis. It first leverages AI and machine learning for analysis, classification, and labeling of structured and unstructured conversational data. It then determines where the organization could benefit from deploying AI.
 
If a business need for AI is identified, the analysis system returns comprehensive and customized recommendations. It identifies which use cases will generate the most business value, develops a range of measurable key performance indicators adapted to the business goals, and generates a roadmap for implementing or further developing AI-powered IVAs in ways that ensure long-term success.
 
“Businesses today need a well-defined roadmap of the resources required to implement an intelligent assistant successfully. AI Blueprint fills this need,” says analyst Dan Miller, Founder of Opus Research. “This unique conversation analysis system offers organizations a package of key elements and resources to speed the time to value today and in the future.”
 
The results that AI Blueprint has generated with initial pilot customers further validates this finding. Through AI Blueprint’s two-factor analysis approach, businesses have seen:
 

  • 83 percent deflection in live chat volume.
  • 44 percent cost reduction in the first year.
  • $1 million saved in customer service email costs in a single year.
  • 50 percent decrease in the amount of time it takes a customer to reset a password.
  • 27 percent reduction in live-chat costs.
 
In total, these benefits can accelerate the ROI of the IVA platform from months to weeks.
 
“IVAs are the future of customer engagement,” says Verint’s Michael Southworth, General Manager, Intelligent Self-service. “Yet delivering exceptional customer experience is like hitting a moving target because every business is unique. AI Blueprint helps ensure that an IVA strategy is consistently delivering exceptional customer experiences and driving operational efficiencies.”
 
Malingo adds, “Understanding precisely how AI can be leveraged to support specific business goals is an ongoing industry challenge. At Verint, our chief goal is enabling organizations to effectively automate areas in the business with the greatest potential for ROI. AI Blueprint helps businesses understand the right place to start when it comes to implementing AI.”
 
It is true that the customer loyalty space is full of challenges. Marketers and executives have been touting various strategies to meet these challenges, including personalized messaging, VoC and VoE feedback, and wholesale data collection. Verint’s new offering, however, stands out from the rest, in that it takes a form of data other suppliers have yet to draw insights from: conversations. We look forward to seeing what effect AI Blueprint will have on the industry.  
 

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