Today we announced our new company name - 7.ai to better reflect the deep investment we’ve made in leveraging artificial intelligence to understand, anticipate, and act on consumer intent. The world’s largest brands are using solutions from 7.ai provide a personalized, predictive, and effortless experience to consumers, while achieving millions of dollars in savings by automating customer interactions. Simply put, we’re redefining the way companies interact with consumers.
Large companies possess a tremendous amount of customer data that exists in silos throughout the enterprise, which makes data analysis difficult and complex. 7.ai uses artificial intelligence to process large amounts of consumer data in order to determine consumer intent, which can then be applied to every aspect of customer experience, from acquisition to engagement. Intent models are then applied to every product and solution that 7.ai offers, including virtual agents (chatbots), while empowering live agents to be highly effective and efficient.
7 AIVA, our industry-leading AI-powered virtual agent that works across both voice and digital channels, provides consumers with the same great experience whether they are calling on the phone or interacting digitally. AIVA can hand off to a live agent prepared to immediately help the consumer and augmented with the same artificial intelligence technology. It is a virtuous cycle, with those same agents helping to refine AI models over time, and making AIVA increasingly effective.
Using 7 AIVA, large companies are scaling and automating digital interactions, boosting customer satisfaction and agent productivity, and taking IVR to the next level with AI-powered technology that understands what customers mean—not just what they say. One large company is working with 7.ai to drive its digital transformation strategy. Success criteria included channel containment, increasing monthly chat volume from its current 55,000 chats per month and driving incremental sales by 10% in year one. The company projects savings of $6 million in the first year, with CSAT of 85 percent or higher.
In another example, the company needed a way to control costs while also providing a higher level of customer service to its steadily growing customer base. It set a goal to drive half of its contact volume through digital channels to increase efficiency and satisfaction, and to ensure that consumers were routed to the best agent and channel while maintaining the context of previous interactions.
In both examples, 7.ai reviewed the companies’ existing chat logs and leveraged predictive analytics to identify their top customer intents (reasons for making contact) such as renewing a membership or making changes to their account. Then, 7.ai prioritized common customer journeys that best presented an opportunity for automating and scaling self-service. In one case, the company was looking to re-direct its customers from its IVR to live chat agents, rather than more-expensive voice agents. With the IVR2Chat feature of 7 Chat, customers who call into the IVR via smartphone have the option to connect with a live chat agent rather than staying on hold. The initial results exceeded the company’s expectations with more than 15% of callers accepting the option to chat. 7.ai analyzed the company’s chat transcripts in order to understand customer journeys and then built the tools based on that understanding. As a result, the company saw results on the first day of deployment.
Additionally, 7.ai reduced the risk for the companies by committing to outcome-based pricing, meaning that it would only be paid only when specific Key Performance Indicators (KPIs) were achieved.
For more information on using artificial intelligence and consumer intent to achieve digital transformation, download the 7.ai eBook “Transforming the Digital Customer Experience,”.