Beyond chatbots: How conversational AI makes customer service smarter

Investing in conversational intelligence can transform your business by effectively managing customer interactions and operations. For contact centres, leveraging conversational intelligence software can provide the insights needed to thrive in today’s digital era. The study surveyed more than 500 global customer support leaders on the changes seen in delivering support and how they’re future-proofing their strategies. Conversational AI is poised to become a competitive differentiator in the current business landscape. Recent advances have enabled innovators to evolve AI into a technology that can truly recognize the nuances of human conversation, interpret their meaning and act on them.

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The first are conversational AI specialists, with platforms that have user interfaces tailored for both the technical and non-technical user; out-of-the-box integrations; and a wide variety of channels. “Those are the ones that Gartner has called out as leaders in the space,” he said. Think of conversational intelligence as a window into what your customers truly value and dislike about your brand. This actionable data empowers you to optimise your sales, marketing, and customer service strategies, paving the way for long-term success.

Parloa, a conversational AI platform for customer service, raises $66M

All of these companies, across categories, are “working to solve the same problem,” said Roberti. That is, to create first-class customer experiences, particularly with tooling accessible to both the non-technical and the technical builder. “How can we empower people to build automated interactions that are welcoming, easy to get started with and lets you build out even the most advanced conversations? MethodologyIntercom commissioned Forrester Consulting to conduct an online survey of 523 global customer support decision-makers with responsibility for strategy and technology purchasing decisions in EMEA and the United States. Survey respondents were managers or above and worked at organizations with 100 or more employees.

Kosub noted that the company has tripled its revenue in each of the past three years. Aside form lead investor Altimeter, Parloa’s Series B saw checks from EQT Ventures, Newion, Senovo, Mosaic Ventures and La Familia Growth. Today’s funding brings the company’s total capital raised to $98 million, following its $21 million Series A, which was led by EQT Ventures, in 2023. Conversational AI platform Parloa has nabbed $66 million in a Series B round, a year after it raised $21 million from a swathe of European investors to propel its international growth.

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With superior customer experiences more critical than ever, 69% of support leaders believe that strong customer relationships are built through personalized support experiences. What’s more, the way that businesses deliver customer support has changed. Messenger-based support has risen from the fifth most used support channel pre-pandemic to now second, overtaking both phone and in-person support. With the shift in customer preferences toward digital channels, there’s an expectation for exceptional service and top-tier technological assistance at every stage of their journey—and conversational AI is a key tool to deliver just that. With applications powered by conversational intelligence, your business can expand its reach and drive understanding from customer conversations into every digital touchpoint. Overall, the conversational AI market in the customer service space is divided into three key categories, Roberti explained.

Now with another $66 million in the bank, it’s well-financed to double down on both its European and U.S. growth. Co-founder and CTO Stefan Ostwald says that AI has been a core part of Parloa’s DNA since its inception six years ago. Parloa is well positioned to capitalize on the ”AI with everything” hype that has hit fever pitch these past couple of years as companies seek new ways to improve efficiency through automation.

Respondents were offered small incentives as a thank you for time spent on the survey. Join leaders from Block, GSK, and SAP for an exclusive look at how autonomous agents are reshaping enterprise workflows – from real-time decision-making to end-to-end automation. DestinationCRM.com is dedicated to providing Customer Relationship Management product and service information in a timely manner to connect decision makers and CRM industry providers now and into the future. Beerud Sheth, cofounder and CEO of messaging leader Gupshup, recently announced three conversational AI acquisitions, including Active.ai and AskSkid, while adding, there are another two in the pipeline. Now, machines can not only better understand the words being said, but the intent behind them, while also being more flexible with responses.

• Established players continue to raise substantial sums — Kore.ai, for example, closed a chunky $150 million round a few months ago from big-name backers such as Nvidia.
• AI and automation is not new in customer service, but with a new wave of large language models (LLMs) and generative AI infrastructure, truly smart “conversational” AI (i.e., not dumb chatbots) is again firmly in investors’ focus.
• Intercom was valued at $1.275 billion in 2018 and has secured $241 million in funding from investors including Kleiner Perkins, Bessemer Venture Partners and Social Capital.
• Recent advances have enabled innovators to evolve AI into a technology that can truly recognize the nuances of human conversation, interpret their meaning and act on them.

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In today’s digitally competitive environment, understanding your customers is more important than ever. However, with conversations happening across multiple channels, keeping track of them can be challenging. Let us explore what conversational intelligence is and how it can help you achieve your business goals. Human beings often struggle to grasp others’ intent and emotions, which can lead to substantial losses.

Customer support is a critical aspect of any organization’s operation, and it’s an area where conversational AI is expected to effect much change. Customers expect businesses to provide answers and deliver support immediately. Conversational AI technology can take on these expectations and challenges head-on. This whitepaper addresses why enterprises that integrate conversational AI to reimagine customer support have not only experienced success and growth but also continue to thrive in a constantly changing world. AI and automation is not new in customer service, but with a new wave of large language models (LLMs) and generative AI infrastructure, truly smart “conversational” AI (i.e., not dumb chatbots) is again firmly in investors’ focus.

• ”Our strategy has always been centered around ’voice first,’ the most critical and impactful facet of the customer experience,” Kosub told TechCrunch over email.
• Parloa had previously raised around $25 million, the bulk of which arrived via its Series A round last year.
• But heavily hyped AI-driven chatbots, an important part of the customer experience mix since 2016, have also proven to be a mixed bag.
• His family was initially told he had died, but later found out he was in a Guatemalan hospital.
• Customers expect businesses to provide answers and deliver support immediately.

We give you the inside scoop on what companies are doing with generative AI, from regulatory shifts to practical deployments, so you can share insights for maximum ROI.

Established players continue to raise substantial sums — Kore.ai, for example, closed a chunky $150 million round a few months ago from big-name backers such as Nvidia. AI and automation is not new in customer service, but with a new wave of large language models (LLMs) and generative AI infrastructure, truly smart ”conversational” AI (i.e., not dumb chatbots) is again firmly in investors’ focus. ”Customers clearly expect conversational experiences now, so businesses must meet these rising expectations and offer great customer support that is fast, friendly and personal.” 71% of support leaders say that conversational support will allow them to either stay competitive or become an industry leader, yet many businesses don’t have the technology they need to deliver this type of personalized support at scale. 54% of respondents say they don’t believe they can deliver conversational support at scale with their current technology stack, and 50% find their teams waste time jumping between tools and platforms to solve customer issues.