John Chambers-backed Uniphore, which automates client service for enterprises employing artificial intelligence (A), has acquired Emotion Research Lab — a Spain-primarily based AI firm that analyses human behaviour by way of facial recognition of feelings to comprehend consumers far better — for an undisclosed quantity. IIT Chennai-incubated firm Uniphore is amongst the prominent Indian computer software startups that have expanded globally in the final decade. Uniphore, which presently has a presence in the US, Singapore, and Japan as effectively, will combine its conversational service automation (CSA) remedy with Emotion Research Lab’s video-focused AI service to boost its offerings. CSA technologies understands, analyzes, and automates voice conversations in true-time such as transcription of calls, in-get in touch with agent coaching, automation of just after-get in touch with work, and so on.
“This current pandemic has reshaped traditional customer service and has universally increased the use of video across a range of applications,” stated Umesh Sachdev, CEO and Co-founder of Uniphore in a statement. This the second substantial move by the firm to ramp up its technologies strength. Uniphore had in October 2020 acquired a third-party license for Robotic Process Automation (RPA) technologies from NTT Information to automate the front workplace for modern day get in touch with centers. Apart from the intellectual house, Emotion Research Lab staff will also be absorbed by Uniphore.
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With the integration of Emotion Research Lab’s AI remedy, Uniphore will commence rolling out its voice and video AI merchandise for enterprises in the second half of 2021. The acquisition will also enable Uniphore to have a presence in Spain even as it intends to expand into other European markets in FY22.
The worldwide conversational AI industry is probably to develop from $4.8 billion in 2020 to $13.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9 per cent, as per MarketsandMarkets. Engaging consumers through social media platforms and developing integration of sophisticated AI capabilities are crucial factors creating conversational AI offerings substantial for enterprises. However, the lack of accuracy in chatbots and virtual assistants and awareness of conversational AI stay amongst the key issues for the industry. Uniphore has so far raised $80.9 million from investors such as John Chambers’ JC2 Ventures, March Capital, Patni Family, Sistema Asia Capital, CXO Fund, and more.