With the growing adoption of smartphones and applications such as WhatsApp in India, a conversational AI company like Yellow.ai has clocked three times year-on-year (Y-o-Y) growth in revenue, Surbhi Agarwal, senior vice president of global marketing, Yellow.ai, told Brandwagon Online. “When the company had started out, we had around 100 customers, but now we are working with over 1,000 brands,” Agarwal added. The major categories for the company include banking, financial services and insurance (BFSI), retail and the utility sectors.
The brands include Bharat Petroleum, Sephora, among others. The company started out in India in 2016 and currently works with Asia Pacific (APAC), Australia-New Zealand (ANZ), the Middle East, the UK, Germany, France, and Latin America. In line with its expansion plans, the company has moved started its operations in the US where it is working on a logo acquisition strategy, it claimed.
The company uses an integration of human agents alongside its various offerings in voice AI, live agent assist and multi-channel conversational campaign management. The company claims that it has aided in a 70% reduction in operational costs, a 30% reduction in cart abandonment, and a 60% reduction in call deflection for its customers.
For the company, this requires strong data collection and analysis which is undertaken in a four-step process according to company assertions. “Firstly, the company collects data which includes user preferences, choices and how they use the bots. Secondly, it segments the customers based on demographics and the problems which its products solve. Then the company analyses the collected data and divides it into further segments, to lastly work with data analysts to evaluate the data and undertake surveys, reports, and secondary market research,” Agarwal elaborated. As per the company, the data analysts include The Forrester Analyst Relations Council, Everest Group, and Gartner Analysts.
The company also announced the launch of Voice 2.0 which was brought out to make the voice technology more intuitive, it claimed. Given that the company operates in a space which requires the platform to be accessible via many languages, it claimed that the new technology will reduce the language conversion time delay for non-English languages.