US call centre software developer Calabrio has moved to tap into the growth in artificial intelligence-enabled customer service solutions by acquiring Toronto-based analytics specialist Wysdom.
The purchase, for an undisclosed sum, underscores how technology vendors are racing to help corporate clients extract more value from AI-powered “virtual agents” – computer chatbots and voice-recognition software designed to boost customer experience.
“We are excited to bring Wysdom and Calabrio together to help our customers use AI to drive optimal allocation of resources across both human and virtual agents,” said Calabrio chief executive Kevin Jones.
“By unlocking core insights across all interactions at scale, Wysdom’s powerful AI/ML-fueled analytics will ensure that our customers are able to leverage all of the valuable data in their omnichannel contact center,” he added.
Wysdom, founded in 2012, has focused on enabling companies to fine-tune customer service chatbots in real time to improve their effectiveness. Its technology will bolster Calabrio’s existing analytics tools that help clients measure agent productivity and return on investment.
The deal aligns with a wider push by Calabrio, which counts airlines, retailers and healthcare providers among its customers, to capitalise on booming demand for AI-enabled software to smooth interactions via digital channels.
Research group Gartner forecasts that by 2025, some 90 per cent of customer service organisations will be using chatbots, a big leap from around 25 per cent today. Spending on AI-based customer engagement solutions could reach $13.9bn by 2027, powered by improvements in natural language processing, consultancy Grand View Research predicts.
“We’ve viewed Calabrio as a like-minded innovator, so we’re thrilled to join them in this crucial mission,” said Wysdom chief executive Ian Collins.