Predictions are artificial intelligence’s (AI) forte, you might say. Some of the most accurate machine learning models draw on hundreds of thousands (or even millions) of data points to surface patterns that would otherwise go undetected. Adobe is using AI to predict when to send marketing emails. Gogo is tapping it to predict equipment failures. And Nuance claims it can be used to deliver tailored, proactive service to customers.
Nuance this week announced Nuance Prediction Service (NPS), a new tool within its Customer Engagement Platform that enables brands to forecast client behavior and respond in an automated, contextualized fashion. It aggregates data from transactions “across all channels” — including the web, text messages, apps, internet of things devices, and more — to fuel its prediction models, over time refining them with “constant analysis.”
“Large organizations today are fielding billions of customer interactions each year, and being able to anticipate and resolve customer needs in advance offers not only enormous potential for savings and operating efficiencies, but perhaps more critical, advances the customer experience,” Robert Weideman, executive vice president and general manager of Nuance’s Enterprise Division, said. “Prediction Service fuels the kind of highly personalized, omnichannel strategy that so many organizations are trying to achieve to engage their customers intelligently, while providing self-service that makes tremendous impact on efficiencies.”
Nuance claims NPS can improve containment rates, routing accuracy, conversion rates, and other key performance indicators.
It brings to mind South Africa-based startup Xineoh, which this summer unveiled its own AI-powered platform for predicting customer behavior. It says its tech can, for example, match marketers with people most likely to buy a given product, or identify customers on the cusp of canceling a subscription.
NPS appears to be slightly more limited in scope, but Nuance has the advantage of scale. The Burlington, Massachusetts-based company, which was founded in 1992, says it automates an estimated 16 billion customer interactions a year across voice, text, and digital channels. Moreover, more than 6,500 companies already leverage Nuance’s solutions for customer engagement, including Coca-Cola, Delta Airlines, FedEx, The Commonwealth Bank of Australia, Swedbank, TalkTalk, and USAA.
Nuance is also no newcomer to AI. The firm’s natural language processing technology once powered Apple’s Siri, and in the not-too-distant past, it’s teamed up with tech giants like Nvidia to power AI-driven radiology and conversational virtual assistant platforms.
“We are looking forward to bringing this to our customers and continuing to push the envelope on our AI-powered approach to engagement,” Weideman said.