Since the launch of ChatGPT in November 2022, businesses across the board are incorporating Artificial Intelligence (AI) into their roadmap with renewed zeal.
And the same is true for us here at OvationCXM.
We’ve been infusing AI-powered capabilities into our platform for almost six years. With the rapid advancements in generative AI technology over the last year, we are accelerating our product roadmap to drive AI-powered capabilities to take our customers’ efficiency, customer retention and business growth to the next level.
In this post, we’ll cover what we are seeing and hearing about the impact of this accelerated AI focus on the CX landscape, including our strategy and vision for how leading enterprises can work with OvationCXM to maximize their efforts in CX delivery.
AI is a Disruptive Force in the Customer Experience Management (CXM) Landscape
Over the last few months, every discussion we have had with our prospects and customers has included references to AI - our vision and strategy, our AI capabilities and our evolving roadmap.
Based on our conversations, here are the three key impacts we are seeing across the CXM landscape:
Consumer expectations for relevant answers in an instant have forever changed
ChatGPT kicked everything off; Bard AI is carrying the torch, and other players are rapidly coming to fruition to change the way we get and consume information forever. As individuals, we now expect near-instantaneous, accurate responses to any and all of our questions - and we expect to consume these answers in the most efficient way possible. These new expectations are having significant business impacts, not unlike the disruptive transformation Netflix and Amazon ushered in around real-time, personalized experiences.
The AI imperative is altering product roadmaps and business requirements
Organizations across several different industries are talking to us about what they think (and hope) AI can do for them, including how they can best leverage AI with journey orchestration and connected business ecosystems to deliver better business outcomes (music to our ears!) Business teams are examining AI frameworks while their technology counterparts are altering their roadmaps to be able to either incorporate headless AI models or purchase AI-powered platforms to meet growing demand for automation, scale and personalized experiences like never before.
The market got crowded (and confusing) overnight
Everyone is talking about AI, from leading enterprise-ready SaaS companies to smaller AI-first platforms and everyone in between. The inevitable AI-related messaging on every website and across every sales brochure is making it increasingly difficult to understand exactly who is doing what in the space and who is best served by these new offerings. We are now seeing near-identical messaging to our own by other companies, even though they do not solve for the CXM challenges we do and do not have the enterprise-ready AI capabilities we do. B2B customers are now contending with a landscape that is getting crowded and confusing fast.
The OvationCXM Difference: Your Partner in Navigating the AI Frontier
At OvationCXM, we believe the integration of AI technologies into CXM strategies has the potential to revolutionize how businesses interact with their customers, enhance customer experiences, and drive overall business success. To that end, we are laser-focused on use cases with proven value as directed by existing customers and prospects.
What makes OvationCXM different?
OvationCXM uses multiple powerful AI models powering up our NLP engine, including GPT-3.5, GPT-4, PaLM-2, Llama-2, FAISS, and more. We continue to add relevant and powerful LLM models to boost our engines as part of our ongoing commitment to a multi-model approach. We also allow customers to bring in their own AI models as needed.
Since our enterprise-ready SaaS platform was built from the ground up with all the features, functionality, workflows, interfaces, connectors, deep data capture, and security that enterprise organizations require, we can quickly deliver high quality content and real business value quicker when compared to any new AI-first companies that try to disrupt and compete on intelligence alone.
We host a subset of these Language models locally to meet the needs of our enterprise-clients across financial services, healthcare and beyond. This makes us more cost-effective than the few other AI solutions that claim to serve the enterprise. It also supports data security, privacy and masking needs that our enterprise clients require. Furthermore, our platform is incredibly nimble, allowing our customers to customize the underlying AI models used - not just the prompts. Finally, we are intentionally building out our AI capabilities to be turned on and off depending on our customers’ needs and risk frameworks. In short, there is no need to leverage the power of generative AI until you are absolutely certain if and how you want to. This kind of flexibility is unparalleled.
Our customers are starting to see incredible results in driving efficiency across employee workloads, automating customer engagements and re-routing queries with ease for more streamlined workflows. They are also on the path towards reducing operating costs and customer churn, improving ESAT scores and driving revenue through improved cross-sell and upsell.
Taking CXM to the Next Level with AI
Here are the six key areas that our product team is working on:
Automate Customer Data Extraction
Customers will better understand pain points, gauge customer satisfaction and generate actionable insights through the automated extraction of relevant information from customer data across the enterprise and ecosystem.
Summarize Information & Provide Relevant, Contextualized Suggestions
With our AI capabilities, customers can now summarize large sets of data across multiple related objects into simple and clear summaries. We can also train models to suggest appropriate and relevant answers and deliver them directly to internal teams and users when they need it.
Deliver Pre-Vetted Responses
Soon, companies will be able to resolve a higher number of cases without escalation to humans by training AI models to generate consistent fallback responses when dealing with uncommon questions. We will also allow you to automate email responses with high quality and proper monitoring to save time and free up teams to work on more complex problems that require their attention.
Dynamic Q&A Response Generation
We are also in the process of offering our customers the ability to generate both questions and answers for their clients’ top questions, including journey status sentiment and whether teams are responding accurately to incoming queries. Models will also be trained to learn and adapt during this process, allowing for more fine-tuning of responses as engagements evolve.
Powerful Insights Without the Complexity
Our customers will be able to leverage our generative AI capabilities to augment visual dashboards and gain flexible insights that were previously only unlocked with a lot of time, effort and technical expertise. Organizational leaders can glean critical insights around the most common customer problems, optimization opportunities across specific journeys, insights into how well ecosystem partners are resolving shared cases, and the overall sentiments of their customers.
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