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Like everyone else, the investment community clearly seems to be bitten by the bug of Artificial Intelligence (AI). Now the latest AI startup to join the funding list is Observe.AI. The voice AI platform has secured $8 Mn in Series A funding round led by Nexus Venture Partners. The round also saw participation by MGV, Liquid 2 Ventures, Hack VC and existing investors including Emergent Ventures and Y Combinator.
Observe.AI’s funding has come closely on the heels of two other AI startups raising funds from investors. These were Ant Works and Racetrack that raised $15 Mn and $5 Mn recently.
Observe.AI aims to revolutionize the call center industry, which is been going through consolidation phase for considerably long time now. By leveraging the power of AI, the startup tries to enhance the efficiency of call center agents by offering them real-time feedback on customer sentiments and guiding them properly on steps to be taken to resolve any issues.
Swapnil Jain, founder and CEO of Observe.AI, claims that thanks to their AI enabled solutions now call center agents can continuously engaged with their customers until the final resolution is reached; this means that agents now don’t have to customers on hold or transfer them around.
Experts argue that there has been increasing trend wherein big as well as small companies are trying to discourage their loyal customers to call to their agents. This has been due to various reasons including sporadic rise in cost of doing business.
However, with the help of breakthrough technology like AI, companies might change the existing perception about their customer’s engagement with call center agents.
Meanwhile, the hype around AI refuses to die as more and more companies are lapping the technology to improve their products and services. Some analysts claim that AI will assume such a huge role in coming decades that it will become integral part of the Indian economy. As per recent study conducted by IT behemoth Accenture, Ai can add whopping US$957 billion to India’s revenue by 2035.
