On January 17, 2023, Cognigy, a leading Conversational AI automation provider, announced that its Cognigy.AI platform would be improved with Generative AI, or Large Language Models (LLMs) such as OpenAI's GPT-3, to supplement Conversational AI deployments. The adoption of Generative AI will contribute to further transforming enterprise customer service and contact centers through the creation of improved conversational experiences and increasing efficiency.
The prevalence of Generative AI solutions has escalated in recent months. ChatGPT, which was developed by OpenAI atop GPT-3 and made available for public testing on November 30, 2022, surpassed one million users within a week of its release.
“According to MarketsandMarkets, the global conversational AI market size is expected to grow at a CAGR of 21.8% during the forecast period, 2021-2026.”
As an AI business at the forefront of developing contact center solutions, Cognigy is already advancing the practical deployment of Generative AI. Conversational AI solutions driven by generative AI now enable bot authors to construct superior bots in a fraction of the time. Cognigy focuses on using Generative AI to assist bot developers and improve conversations.
Cognigy has identified three major areas wherein Generative AI has a significant impact when combined with Conversational AI:
Improving the user experience with advanced AI-powered discussions tailored to the individual's circumstances and preferences.
Improving agent performance by exploiting language model capabilities in natural language understanding and generation.
Increasing efficiency and cost savings by streamlining the creation and deployment of enterprise-level conversational bots.
With a range of products including Conversational IVR, Smart Self-Support, and Agent + Assist, the Cognigy.AI platform offers next-generation customer service. Cognigy.AI enables organizations to create personalized service experiences at scale, 24/7, both on voice and chat.
Founded in 2016, Cognigy is an enterprise software provider for Conversational AI automation that enables enterprise contact centers to exceed customer expectations, enhance agent satisfaction, and swiftly adapt to market changes. Since its inception, it has continued to be one of Europe's fastest-growing technology firms. Its platform, Cognigy.AI, automates customer and employee communications. Available in both on-premises and SaaS contexts, Cognigy.AI enables organizations to have natural language interactions with their users on any channel and in any language, including webchat, SMS, phone, and mobile apps. Over 500 organizations globally rely on Cognigy and its extensive network of partners to offer customer and staff service that all appreciate. Its global clientele consists of Bosch, Toyota, Mercedes-Benz, BioNTech, Fidelity Life, and Lufthansa Group, among others.