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We build complex user journeys driven by chat-bots: Dr. Sindhu Joseph, CEO & Co-founder, CogniCor

26-December-2017
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We build complex user journeys driven by chat-bots: Dr. Sindhu Joseph, CEO & Co-founder, CogniCor

CogniCor, one of the leading AI-based platforms which offers cognitive virtual assistant solutions, has emerged has a global chat-bot solution provider over time. The platform ranked fourth amongst the key international chat-bot solution providers in the ‘Global Chatbots Market Professional Survey Report 2017.’ Dr. Sindhu Joseph, CEO & Co-founder, CogniCor, spoke to exchange4media on the platform’s visions for the coming year, how they went ahead with customer acquisition and more.

Excerpts:

How has 2017 been for the platform?

The platform emerged as a strong player in global market, with analysts ranking CogniCor fourth in the global markets for chat-bots. This is aligned with the fact that our customers reported strong ROI from deployments. For eg. OCBC Bank of Singapore gained $30 million worth of mortgages through CogniCor’s chat-bot channel. To date over four million automated conversations have been handled by the platform. We have also expanded our geographic footprint in US and signed up partnerships with global distribution channels.

What is the key differentiator for the platform against its competitors?

Our biggest differentiator is our platform built with cognitive technology that allows anyone to set up virtual agents without advanced knowledge of AI. While existing players offer solutions that is tuned to building simple chat-bots, our platform enables enterprises to build complex user journeys driven by chat-bots without having to resort to extensive upfront investment in configuring and managing enterprise chat-bots.

What were the initial challenges you faced when you started the venture as opposed to the challenges you face now with respect to CogniCor?

When I finished my PhD in artificial intelligence in 2012 from one of Europe’s most prestigious institutes, I was looking for an opportunity to apply my learning. As I was a frequent traveller, I came across various situations where I experienced terrible customer service. These experiences made me think of the reason for this and it is then that I realized the companies don't have tools to help customers. We are stuck with decades old systems such as call-centres. Thus, CogniCor was born. After trying different verticals, we focused on finance and support services to scale. We developed our own technology stack and have two US patents pending. My previous experience as a research engineer and inventor of six US patents came in handy in the process.

Our initial challenges as a pioneer in enterprise chat-bot technology were to educate enterprises about the value proposition of chat-bot channel and to make them sign up for contracts beyond proof of concepts. Today we help several companies deliver AI enabled assistance in pre-sales and post sales scenarios. The market today is changing fast and adoption of AI technologies are at a frenetic pace. There is strong demand by enterprises to offer personalized chat-bots for pre-sales and service as well as empowering customer service executives.

Our current challenges include deciding next sectors to enter and building our team to cater to the scaling opportunity.

Who is your main TG?

CogniCor’s target audience are mid to large enterprises in finance and it supports who appreciates the value of what artificial intelligence can do to help their operations. We have built a complete platform that takes care of all aspects of chat-bot deployment for companies.

How did you go about customer acquisition?

CogniCor has both direct and partner driven sales channels. We have on-board partners who have a great track record of deploying successful enterprise solutions. We often speak or participate in leading industry events in Artificial Intelligence and Finance. Several case studies have been published about our deployments and the value addition to our clients, the most recent one being by Forrester.

What are your future plans with regards to the platform for 2018?

We have a clear strategy planned out to grow and consolidate our position as the best provider of cognitive customer interaction solutions for enterprises. Our roadmap for this year includes some of the innovative features that will help us reduce the deployment time and drive predictable outcomes for our clients and satisfaction for their customers. We plan to grow our team in India, Europe and US. Our future plans are to expand into other verticals and be the global reference for virtual agent technology.

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