AI in Customer Experience: ASAPP Scoops $185 Million Funding to Secure CX Innovations.
Leading AI research firm, ASAPP is taking rapid strides in the field of AI-native technology for Customer Experience and Agency Automation. Disruptions caused by COVID-19 pandemic may have proved to be an overwhelming challenge to sustain businesses, But, for some AI leaders with strong business values, they are focusing on attracting funding and planning marketing and customer service expansion in new markets. ASAPP completed $185 million in Series B investment to radically improve the productivity of customer experience employees.
The NY-based AI firm took its total funding to $260 million.
Participation in the Series B round includes legendary Silicon Valley veterans John Doerr, John Chambers, Dave Strohm, and Joe Tucci, along with respected institutions Emergence Capital, March Capital Partners, Euclidean Capital, Telstra Ventures, HOF Capital and Vast Ventures.
What is ASAPP?
ASAPP is an Artificial Intelligence research-driven company advancing the future of productivity and efficiency in customer experience. The AI company provides native AI technology platforms for applied AI research and self-learning engine development.
ASAPP augments CX management by solving complex data-heavy problems to remove bottlenecks with AI, and related applications.
How CX Management Teams Use ASAPP?
CX Management teams are now working in sync with other teams — Inbound Marketing, Data Management and Analytics (part of BI), Sales, and Customer Support. It is now fairly easy to identify the exact set of roles and responsibilities of a CX team, especially in those companies that offer services to the B2C/E-commerce markets.
ASAPP platform empowers the customer care and sales agents with real-time recommendations, even as these teams interact with customers at various touchpoints.
ASAPP’s Machine Learning models are continuously learning and predicting from every customer interaction, effectively turning every agent into your best agent without the need for manual programming or extensive training.
ASAPP provides three products for CX Management. These are:
ASAPP’s Applied Research wing puts the power of knowledge into AI innovations, optimized for every customer’s need-based experiences. It helps to:
- Enhance customer interactions
- Increase agency performance and agent’s effectiveness
- Improve overall customer satisfaction
The research wing works with various connected AI specializations such as:
- Natural Language Processing (NLP) and Understanding
- Speech Recognition
- Machine Learning
- Training tools
ASAPP AI-Native™ technology forms the core of the CX Management architecture to create a unique customer journey. It’s built on continuous feedback loop management created on the foundation of Auto-ML algorithms and agent activity.
It’s a real AI CX management tool that is at the center of Agents, Customers, and various Augmentation/Automation systems.
ASAPP Self-Learning Engines
Self-learning engines are designed to make “people-to-people” conversations better, and it augmentatively learns by using the rich data available from all of your interactions.
ASAPP Self-learning engines can do the following;
- Learn continuously and seamlessly from agent conversations
- Provide intelligent real-time conversation pointers to drive toward the best Sales experience
- Automate daily tasks to save agency time and effort
- Personalize chat and interactions with rules-based chatbots
At the time of the announcement, Founder and CEO Gustavo Sapoznik said –
“ASAPP builds AI-Native products to solve problems of massive scale and systemic inefficiency. We are thrilled and grateful by this latest investment, which allows ASAPP to continue scaling and meeting the extraordinary demands large enterprises are facing as a result of the global pandemic.”
ASAPP CEO also said that many organizations are experiencing historically high levels of customer interactions at a time when their capacity to support is at an all-time low.
How can ASAPP help during the Pandemic to Drive Better CX Campaigns?
COVID-19 pandemic has forced businesses to switch from high-growth marketing to sustainable cost-cutting centers. This has pushed the economy toward recession, creating significant disruption at contact centers across all industries. The truth is, call agents are doing their best to veil their fears and personal challenges while talking to customers. Human empathy and convenience-centric customers are pinnacle benchmarks of current day conversations across channels.
ASAPP promises to deliver on these expectations.
Powered by an effective AI ML algorithm, companies use ASAPP to radically improve agent labor efficiency and effectiveness with Augmented Intelligence.
ASAPP customers have achieved a 2.5x agent throughput increase while realizing a 45%-100% improvement in customer satisfaction scores as a result of using the platform.
Gustavo said, “By augmenting agents who are on the frontlines, ASAPP enables them to be vastly more efficient and productive, realizing significant savings while delighting customers.”
Gustavo added, “Our current focus is in solving customer experience challenges faced by large enterprises, which for decades has been addressed by attempting to deflect customer calls, and has resulted in poor experiences, frustration, and massive amounts of money being spent on this problem. Our approach to cost savings is radically different and focuses on building state-of-the-art capabilities to make agents better and empower them by augmenting and automating their workflows.”
Historically, the execution of efficiency measures – more call deflections, hiding contact information from customers, frustrating chatbots that cannot handle complex transactions – has come at the expense of customer satisfaction. Customer Experience Officers are looking for fast improvements to their operations, to drive significant automation without sacrificing customer experience.
Investor and ASAPP board member John Doerr said – “Gustavo’s world-class team is creating audacious partnerships with large, forward-thinking enterprises. We’re excited to be part of the team by backing ASAPP’s vision.”
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