Konverso has been listed among top 10 companies in the Intelligent Virtual Agents (IVAs) market by Everest Group, a leading consulting and research firm that advises clients on digital transformation strategic IT, business services and sourcing.
What are IVA ?
Based on Everest Group’s report, Intelligent Virtual Agents (IVAs) are “Artificial Intelligence (AI) powered conversational bots using technologies such as natural language processing, image processing, pattern recognition, and contextual analysis to make more intuitive leaps, perceptions, and judgments.
These Virtual Agents have the potential to offer high value in various business functions such as contact center, F&A, HR, and IT & helpdesk through superior customer satisfaction, round the clock support, problem solving and reduction in service costs for the enterprises”.
Everest Group analysed the top vendors offers and technologies to assess the maturity of the Intelligent Virtual Agents market. Their analysis confirmed that in the last 12-18 months the market has witnessed a gradual shift from rule-based solutions to AI-driven IVA solutions.
The BFSI market (Banking, financial services and insurance) is now clearly recognized as the biggest adopter of IVA solutions, with a focus on improving customer experience, customer service and saving costs. Other major adopters are in the telecom, technology, and manufacturing markets.
Konverso has contributed to this rise in popularity for Intelligent Virtual Agents by developing its own conversational AI platform to build virtual agent a solution now adopted by companies like Computacenter to optimize their help desk operations.
Konverso Virtual Agent can automate between 20% and 40% of level 1 support tasks and increase active usage of digital apps by 40%. Those next generation chatbots are therefore a quick way to reduce the average annual cost of End User Support (which can represent €300 per business user, based on Econocom’s data), but also to generate new opportunities by helping users master Digital Workplace tools like Office 365.
RPA and IVA are converging
Another key finding of Everest Group’s analysis is that “driven by the success from Robotic process automation (RPA) implementations, enterprises are becoming more receptive to automation solutions, which in turn is fuelling interest in the IVA solutions”.
Our feedback on this trend is that RPA and IVA are now converging, and they will work more together to bring more value to enterprises. RPA requires structured data, static rules and repeatability of tasks (for instance to automate reporting or answer repetitive questions), while chatbots/IVAs deal with dynamic unstructured data generated in natural language by human users.
Next generation chatbots are now fuelled by artificial intelligence and machine learning with pretrained models, to not only answer users questions but also manage workflow, non-linear multi-round conversations and trigger RPA processes to increase the ROI.
To speed up the delivery of those Intelligent Virtual Agents projects, Konverso offers a “chatbot as a service” approach. Our assistant is pretrained on existing knowledge bases (including Right Answers) and integrated with various third-party solutions like Servicenow ITSM solutions.
This capacity to quickly integrate a chatbot in a company’s environment and interoperate with other specialized tools can free up budget for your other innovation projects and boost their user adoption at the same time.