Today’s rate of technological change is unprecedented and that will only accelerate. The challenges organizations are facing are how they transform their businesses to take early advantage of the technologies that will disrupt many established business and operating models. Second to that is the impact these changes will have on humans and their behaviors. People generally don’t like changes and have set routines that can cause stress and anxiety if these are impacted. In order to take full advantage of transformational technologies, organizations will have to engage with their employees, partners and customers to ensure that they adapt and engage positively. Another challenge is understanding hype over reality. Most businesses struggle to understand which technology to adopt and have naive strategies on how and where they need to apply these. So education is another area that needs more attention.
Volume.ai has focused on all these areas and created a market place to offer solutions and services to aid the organizations who aim to grow faster by offering better customer experience. The company was established to offer greater value to organizations across multiple sectors from their current or pending chatbot investment, with its new tools that will allow them to self-manage their chatbot real estate without a high dependency on third party vendors. Consumers these days being more empowered with online services, has also opened a scope for organizations to better analyze their customers through voice-first technologies. Volume.ai grabbed this opportunity to create a better platform to enhance customer experience.
“Volume.ai was established to offer greater value to organizations across multiple sectors from their current or pending chatbot investment, with its new tools that will allow them to self-manage their chatbot real estate without a high dependency on third party vendors.”
Within the world of AI, Volume.ai’s facet is Conversational AI and Natural Language Processing (NLP). The company is witnessing the emergence of middleware that will help organizations to gain greater value from their chatbot real estate and make it easier to scale and manage their conversational ecosystem. Volume.ai’s early involvement in developing credible enterprise-class chatbots led the company to a number of challenges that at the time were prohibiting the adoption and deployment of these technologies.
Volume.ai recently launched QBox a pure play AI Middleware SaaS product that allows organizations to understand how their chatbots are performing and how these can be scaled quickly and accurately with a high degree of confidence. Its Conversational platform, ‘Big Brain Chatbot’ uses QBox to automatically test the client’s chatbot(s) to see which areas perform well and which areas need retraining. By visualizing the status of the chatbot at an intent level, organizations can develop NLP data model quickly and easily. Big Brain Chatbot assures that chatbot real estate is fully optimized before it’s in active use.
“One of our most innovative case studies is for a major global commercial bank,” says Chris Sykes, CEO, Volume.ai. Using its underlying framework and speech recognition technology, the company has created an AI application that enables the commercial bank’s Relationship Managers and Relationship Directors to narrate a contact report straight after a meeting with a business customer. The app is trained to understand the bank’s own lingo, as well as general banking terms and acronyms. The app also integrates with the bank’s business workflow and management tools such as Microsoft Teams and Planner and the future Dynamics. This means that any action post meeting can be assigned automatically, saving valuable admin time to improve efficiency, productivity and deliver better customer service. The app has helped to reduce the time taken to produce a written report from 25-40 minutes to 5-10 minutes, saving a month’s worth of admin a year. Moreover, the bank gets full access to the transcript and a complete audit trail on the customer’s engagement history.
Volume.ai aims to be able to integrate seamlessly with legacy applications in the enterprise and derive greater insight from the various data sources in and around an organization’s IT infrastructure. The company is also working on better understanding a person’s mood and personality insights from a single or multiple interactions. This will allow it to create dynamic dialogs based on a person’s personality and behaviors and enable a brand or organization to deliver more personalized customer experience. Volume.ai will also shift towards image recognition and speech recognition to get the ability to identify an individual from their image and allow even greater levels of engagement and personalization.