Bengaluru, 10th January 2024: Exotel, a leading player in communication technology solutions, announces the launch of ‘The House of AI’, a comprehensive suite of advanced AI-driven solutions tailored to redefine the way businesses engage with customers. This is a significant step by Exotel to strengthen its product offering and investment in Artificial Intelligence.
This move presents an expanded serviceable addressable market, which the company is confident will help in achieving 50% revenue growth by 2025. This ambitious goal highlights Exotel’s strategic positioning and potential for growth in the rapidly evolving customer engagement segment, focusing on customer communication and contact center software spaces powered by AI .
By integrating state-of-the-art Generation AI and Natural Language Processing (NLP) technologies, ‘The House of AI’ streamlines the use of Large Language Models, balancing efficiency, cost and accuracy. It supports various LLMs, allowing cloud or on-premise setup, and intelligently selects models to meet specific requirements, including text summarization, sentiment analysis and translation, making advanced language processing user-friendly and efficient.
This synergy of technologies enhances Exotel’s existing communication and contact center products lineup, ensuring a deeper understanding of the nuances in every customer conversation. This capability allows to meticulously ascertain the intent, state and sentiment of each customer dialogue. Armed with this precise context, ‘The House of AI’ empowers agents and bots to deliver an unprecedented level of meaningful and impactful customer engagement, setting a new benchmark in the industry.
According to leading analyst firms, The conversational AI and virtual assistant sector in contact centers is rapidly growing, with a predicted 57.6% CAGR from 2022 to 2027. Increasing investments in conversational AI are part of a strategy to reduce dependence on live agents. While AI currently supports most customer service conversations, it fully manages only a small fraction. It is estimated that Contact Centre (CC) AI managed 3% of interactions in 2023, which will increase to 14% by 2027.
‘The House of AI’ promises to significantly uplift the productivity and efficiency of agents and bots, as well as modernize conversations with the following solutions:
-
AI-Powered Chatbot Solutions: The advanced next-gen chatbot offers human-like context (intent, state, emotion)-driven conversations for exceptional customer engagement, objective-driven conversation automation for enhanced efficiency/productivity, versatility in terms of language support and integration with knowledge-bases and backend systems, along with deployment flexibility and reliability.
-
GenAI Powered Voice Assistant: It combines the power of chatbot with speech understanding and speech generation technologies to offer human-like conversation experience through bots to users, with an ability of completing an action automatically. For example, a bot can be ‘instructed’ to help users open an FD, and with a few backend API integration, it becomes autonomous.
-
Exomind API: The solution simplifies the intricacies of AI operations, and enables algorithm selection, model deployment, monitoring, and fine-tuning for users. It also offers configurable options for operational considerations like cost, accuracy and speed.
-
ExoInsights: A powerful AI chat agent, it enables conversations with documents and knowledge bases. It also offers versatility in terms of types of data and knowledge base supported such as xls, docs, pdf, website, voice recordings, databases, etc., as well as flexibility in terms of deployment models.
-
Technology Consultancy and Bespoke Implementations: Lastly, it extends expert advice and customized solutions for hassle-free Generative AI integration.
Anil Kumar, CTO, Exotel states,“ Understanding the small, important details in every customer conversation is very important. This ability presented by ‘The House of AI’ enables a meticulous understanding of customer intent, emotional state and sentiment within every dialogue. We are confident that this will give businesses an unparalleled insight into customer conversations and help deliver impactful engagements.”
Launching ‘The House of AI’, Exotel sets a new course in enterprise customer communication. The company sees the convergence of messaging, voice, contact centers and conversational AI as essential for extraordinary customer engagement. Its goal is to seamlessly blend all these channels with AI. By utilizing ‘The House of AI’ solutions on top of its existing communication suite of products, businesses will be able to derive the most accurate context for each conversation.
This is more than a tech leap; it’s a transformative way for businesses to engage deeply with customers, fostering growth. As the communication landscape evolves, Exotel is at the forefront, empowering enterprises to reshape their customer conversations and reach higher echelons of success.
Exotel invites businesses to embrace this new era of customer communication. Adopting ‘The House of AI’ means investing in a future where every customer dialogue is an opportunity to build stronger, more meaningful relationships.
