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The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the leading Virtual Customer Assistants vendors
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[24]7.ai, with its comprehensive technology and customer experience management, receives strong ratings across the parameters of technology excellence and customer impact
Quadrant Knowledge Solutions announced that it has named [24]7.ai, Inc. as a 2022 technology leader in the SPARK Matrix analysis of the global Virtual Customer Assistants market.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Kunal Pakhale, Analyst, Quadrant Knowledge Solutions, “[24]7.ai’s Virtual Customer Assistants capabilities include its continuous learning from intent discovery to tuning, superior intent prediction, and open AI infrastructure, enabling users to coordinate, monitor, and explain multiple models. It also offers low-code AI development tools and assistive AI for non-technical users to build models and design conversations. Additionally, [24]7.ai offers a single platform for digital and voice with state-of-the-art natural language understanding and context awareness. [24]7.ai is capable of catering to diverse customer needs across industry verticals; with its comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, cloud-native platform, and product suite with high scalability, have received strong ratings across technology excellence and customer impact and has been positioned as a leader in SPARK Matrix: Virtual Customer Assistants, 2022.”
“[24]7.ai’s key strength is its platform [24]7 Lumos AI, which enables a constellation of AI driven tools to build enterprise grade chatbots and keep them running for years. Starting at discovering topics of user conversations – digital or voice, our platform provides tools to author bot conversation flows and augment them with rich AI models that can accurately identify sentiments and intents using advanced NLP algorithms.”
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“Most seasoned practitioners know that deploying a bot once is never enough – since conversation topics and user behavior inevitably change over time. Our tools make it easy to manage this part of the bot lifecycle too: we provide a dashboard for automatic model monitoring that signals changes in bot or model performance, letting practitioners know when to revisit a model or flow design. Our explainable AI feature – soon to be out of labs – further eases this process by providing a transparent view of a model’s reasoning,” said Michelle Gregory, SVP, Data Science at [24]7.ai
Michelle continued, “In short, [24]7 Lumos AI codifies 20+ years of our experience in running customer service solutions, providing a 360 degree view and control over all workflows needed to run a successful and robust conversational AI system.”
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Quadrant Knowledge Solutions defines a Virtual Customer Assistants as a programming application that replicates human-like conversations to deliver information to customers, including text-based and speech-based engagements. The VCA adapts to the content and context of user inputs by combining natural-language processing and conversational artificial intelligence by updating its data repositories in real-time, providing sustained and strong customer value proposition, and enabling organizations to have an open channel to serve and communicate with their customers.
VCA vendors are focusing on strengthening their platform capabilities by leveraging AI/ML and analytics to gain and understand buyer insights. Vendors continue to augment their AI models to understand customer behavior, actions, intent, context, and sentiment. Furthermore, organizations are constantly looking for virtual assistants that can offer a personalized CX, adapt to their evolving business models, and enable them to efficiently design business and customer-centric strategies. AI is furthering the benefits of VCAs, which are being developed by technology corporations to boost revenue and employment and improve corporate operations.