In the dynamic world of customer service, the traditional model of voice-based call centers is undergoing a significant transformation. With rising operational costs and increasing pressures to effectively service customer inquiries, companies are turning to innovative solutions like artificial intelligence (AI) and voice technology. Enter Skit, a Bengaluru-based AI SaaS startup that’s breaking barriers with its groundbreaking voice automation platform, VIVA.
A Growing Demand Amidst Challenges
As the COVID-19 pandemic swept through various sectors, the demands on customer support systems became glaringly evident. Call volumes surged dramatically, particularly in financial institutions, as customers sought reassurance and assistance during turbulent times. Sourabh Gupta, Skit’s co-founder and CEO, pointed out that the preference for voice interactions often meant traditional interactive voice response (IVR) systems were overwhelmed. The issue of long wait times and cumbersome menus only exacerbated customer frustration.
The Cutting-Edge Solution: VIVA
So how does Skit plan to turn this tide? Through its artificial intelligence-driven platform, VIVA, Skit is enabling organizations to automate up to 90% of their call center interactions. Leveraging advanced Natural Language Understanding (NLU) technology, VIVA communicates fluently in over 16 languages and more than 160 dialects, ensuring that diverse customers can access support effortlessly.
The Versatile Communication Ability of VIVA
One of the standout features of VIVA is its capability to understand and replicate human-like conversational nuances. With over 10 million hours of training data, it can discern the speaker’s intentions and adapt its responses accordingly. This groundbreaking functionality not only expedites query resolutions but significantly enhances customer satisfaction by facilitating personalized interactions.
Funding for Future Growth
Recent developments have only accelerated Skit’s momentum. The company successfully raised $23 million in a Series B funding round led by WestBridge Capital. This latest investment underscores the confidence stakeholders have in Skit’s business model and potential for further expansion into global markets, particularly in North America and Southeast Asia.
Capitalizing on Global Opportunities
Gupta highlighted that Southeast Asia presents a fertile landscape for conversational AI. Similar to India, this region is rich in languages and also contends with pressing customer service needs. The strategic decision to establish a headquarters in New York aims to penetrate the mature U.S. market effectively, allowing Skit to compete with established players and cater to the ever-growing voice AI demand.
The Business Impact
- Operational Efficiency: Companies that integrate VIVA into their systems can expect to see a significant reduction in cost and employee turnover—a common challenge in traditional call centers.
- Market Growth: The burgeoning global contact center market is projected to soar to $496 billion by 2027, with Skit poised to carve out a substantial share of the $300 billion voice customer service sector.
- Client Diversity: With over 25 B2B clients, including recognizable names such as Axis Bank and Barbeque Nation, Skit’s varied portfolio showcases the potential of its technology across industries.
Conclusion
Skit’s advancements are not just a reflection of robust AI development; they embody a pivotal shift in how businesses approach customer service. As organizations seek to enhance engagement and operational efficiency, technologies like VIVA could redefine what’s possible in customer support. With its continued growth trajectory and innovative solutions, Skit is setting the stage for a more effective and responsive future in call center operations.
At fxis.ai, we believe that such advancements are crucial for the future of AI, as they enable more comprehensive and effective solutions. Our team is continually exploring new methodologies to push the envelope in artificial intelligence, ensuring that our clients benefit from the latest technological innovations.
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