Based on its recent analysis of the Middle Eastern and South Asian conversational AI market, Frost & Sullivan bestows Yellow.ai with the 2021 Technology Innovation Leadership Award for delivering a highly differentiated conversational artificial intelligence (AI)-powered customer experience (CX) and employee experience (EX) automation platform.
The independently assessed award recognizes Yellow.ai’s commitment to innovation, creativity, diversity, and growth potential towards building multi-lingual and omnichannel intelligent chat and voice bots that are critical in the digital transformation and modernization era; especially as customers and employees prefer to connect with enterprises across multiple new-age communications platforms and require information on-demand in languages native to them.
As noted by Frost & Sullivan, Yellow.ai offers advanced functionalities that provide key differentiation, such as automated intent and entity detection, reduced training data needs, support for “human-in-the-loop,” and low-code/no-code capability.
Mohammed Riyaz Ahmed, Industry Analyst at Frost & Sullivan states that “Yellow.ai’s unique tri-fold combination approach of NLP, ML, and AI to CX differentiates it from competing vendors that offer only automation or human agents.” Riyaz further adds, “Yellow.ai’s research and development arm, Bitonic Labs, focuses on solving long-term challenges faced by enterprises looking to adopt conversational AI on a larger scale.”
Yellow.ai’s proprietary deep learning-based Insights Engine, developed on a transformer model, ingests unstructured data, and automatically creates intent. This model allows enterprises to offer cognitive search capabilities across platforms without the need for manual training. It also provides a spectrum of connections with leading knowledge management systems such as Microsoft Sharepoint, Servicenow, and Confluence, enabling enterprises to use their existing knowledge base to bootstrap faster than the competition. Meanwhile, its data-efficient proprietary NLP model synthesizes possible queries and scenarios and makes structured data available for bot training. This NLP engine is based on a few-shot learning model that delivers outstanding results with 50% less data.
“Yellow.ai natively integrates with enterprises’ core systems to complete the user-intended action,” said Samantha Fisher, Best Practices Research Analyst at Frost & Sullivan. “By addressing customers’ requirements through its automated and personalized resolutions and helping them survive market disruptions with its product and engineering focus, it aims to position itself at the forefront of global CX and EX automation initiatives.”
Yellow.ai is a horizontal platform with pre-built language models for various industries. Yellow.ai is a unique industry and function-agnostic platform that supports any conversational AI scenario across marketing, customer support, conversational commerce, HR, and ITSM.
The company’s human-like chat and voice bots can understand sentiments, intent, and past behavior; the bots can also modify pitch, tone, excitement and more, to fulfill customer needs. Yellow.ai’s bots uniquely learn from all human-answered queries to decrease future AI-to-human hand-offs rapidly, achieving 60% automation in the first 30 days. This constant improvement leads to more deflections with appropriate responses while still keeping the human in the loop.
Each year, Frost & Sullivan presents this award to the company that demonstrates uniqueness in developing and leveraging new technologies that deliver significant customer value.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.