At the recently held Conversational Commerce Conference (C3) in San Francisco hosted by our research partner Opus Research, I had the pleasure of being a featured keynote speaker on Voice, Big Data and Conversational AI along with John Chambers, Chairman Emeritus, Cisco and CEO, JC2 Ventures. John is not only an investor in Uniphore but also as our advisor, mentor and business partner, he is our Chief Guru.
We had an engaging audience and a great conversation on how Conversational AI is pushing new frontiers in Customer Experience (CX). Three key points stood out for me and resonated with what we are also seeing at Uniphore.
- Startups are disrupting the CX space: We are seeing a positive shift in mind set of large customers to adopt newer Conversational AI technologies and a comfort in working with startups. This shift is driven by the try-before-you-buy and pay-as-you-go SaaS model offered by smaller companies which enterprises find appealing and less risky. Enterprises can take smaller bets, test-and-learn and then scale up. Customers are also seeing real innovation coming from startups.
- Customers want real value no vanity: Today, the buyer of CX analytics is a business buyer. The decision point within enterprises has shifted from customer service centers and technology groups to the business buyer. She wants to see real value delivered by conversational analytics and in real time. She wants to see meaningful impact on CSAT, upsell, cross sell and attrition rates. In fact, 45% of buyers surveyed by Opus Research in their study on Drivers for Deployment of Speech Analytics want to see speech analytics to determine ‘real intent’ from their customer conversations.
- Business outcomes being delivered at scale: The transformation of the CX space is underway and Conversational AI technology is at the forefront of that transformation. The technology is maturing and will become mainstream in delivering true business outcomes at scale, in real time, with actionable insights, and through ML and continuous improvement to the underlying analytic models. At Uniphore, we are likewise seeing a favorable shift in buyer’s attitude towards the technology.
Conversational AI is at an inflection point with speech analytics, AI technologies, real time processing capabilities, automation through conversational bots, and voice biometrics all coming together to deliver superior customer experience and drive business outcomes. This is just the beginning. I can think of numerous use cases for these technologies across industries and functions. Exciting times ahead!
Thank you Opus Research for having me and Dan Miller at Opus for being a gracious host and moderator of the keynote.
By Umesh Sachdev
Co-founder and CEO, of Uniphore