LivePerson upgrades its Conversational Cloud platform with trustworthy AI capabilities to redefine how businesses put Generative AI and LLMs to work

Rhea-AI Summary

LivePerson (LPSN), a leader in Conversational AI, announced the launch of its upgraded Conversational Cloud platform on April 25, 2023, enhancing its capabilities with trustworthy Generative AI and Large Language Model (LLM) technology. This upgrade aims to boost productivity for businesses and includes features like AI Safety Tools and Conversation Autopilot, designed to improve customer interactions and reduce operational costs. LivePerson’s platform is driven by over a billion monthly conversational interactions, positioning it to effectively leverage AI for better outcomes. The company also introduced a low-risk, pay-as-you-go pricing model, broadening access to its AI solutions. A launch event is scheduled for May 2, 2023, to provide exclusive demos and insights into the new offerings.

Positive

• Enhanced Conversational Cloud platform with Generative AI and LLM features.
• AI capabilities can reduce costs by up to 50% and increase annual sales significantly.
• Partnerships with multiple LLM providers to tailor solutions for brands.
• Introduced low-risk, pay-as-you-go pricing framework to increase AI accessibility.

Negative

• None.

Leading AI company — trusted by the world's biggest brands — launches cutting-edge, safe, and secure LLM and Voice capabilities, with exclusive demos set for May 2, 2023 launch event

Introduces low-risk, pay-as-you-go pricing framework to increase access to responsible AI

NEW YORK, April 25, 2023 /PRNewswire/ -- LivePerson (Nasdaq: LPSN), a global leader in Conversational AI, today announced the launch of its upgraded Conversational Cloud platform, which now features trustworthy Generative AI and Large Language Model (LLM) capabilities. These new features are built on the foundation of LivePerson's unique expertise and data set powering AI conversations across every major industry for the world's biggest brands. The upgraded Conversational Cloud combines the power of LLMs with LivePerson's safe and responsible AI to boost human productivity across voice and messaging channels, driving better outcomes for businesses, their employees, and their customers.

Since its inception inventing webchat for brands, LivePerson has continually delivered enterprise-grade standards for trustworthy digital engagement. As part of its long-term vision for AI, the company focused on leveraging LLMs early and is now uniquely positioned to help enterprises leverage generative AI and LLMs for better business outcomes:

• Even before introducing generative capabilities, LivePerson's AI helped brands reduce costs by up to 50% and increase sales by hundreds of millions of dollars every year.
• The world's foremost awards programs for customer care, sales, marketing, and technology have acclaimed LivePerson's AI and its ability to produce better outcomes.
• LivePerson's AI is trained on a robust data set informed by a billion conversational interactions every month and 20+ years of experience managing digital engagement for the world's largest brands.
• Unlike other platforms, hundreds of thousands of people participate in LivePerson's AI learning loops, keeping conversations grounded and factual.
• LivePerson's commitment to fight bias and ensure responsibility in AI is deep and long-standing.

"Businesses have always dreamed of automating truly human-like conversations on a massive scale, but the effort and expense put this dream out of reach until the dawn of generative AI and LLMs. But the hard truth is, these technologies are not fit for business use right out of the box," said LivePerson founder and CEO Rob LoCascio. "Our new trustworthy AI capabilities offer guardrails designed to make LLMs safe and effective for even the world's biggest brands — all while bringing digital experiences for their employees and end-consumers to new heights."

LivePerson's platform upgrade and new capabilities are designed to empower businesses to safely and productively leverage LLMs and generative AI for maximum cost savings and impact:

• LivePerson's AI Safety Tools, which extend across its new and existing capabilities, help deliver trustworthy customer and employee experiences
• Restrict LLM responses to the guardrails of a curated collection of knowledge content managed within LivePerson's controlled environment, leveraging LLM prompting designed and tested on hundreds of enterprise chatbots.
• Determine the source of content errors and make it easy for humans in the loop to vet every single response an LLM generates.
• Access safety and usability analytics in a simple dashboard that includes cutting-edge content moderation.
• Conversation Copilot improves agent productivity and accelerates bot creation
• Get instantly recommended answers for your human agents based on any content ingested into your knowledge base: websites, PDFs, spreadsheets, and more. Agents in the loop can then edit and use the recommendations as they see fit to best support customers.
• Auto-summarize transferred or escalated conversations, covering everything from customer questions and concerns to attempted resolutions from bots and agents. This context helps agents reduce repetition and make informed decisions.
• Accelerate bot creation by generating diverse sets of customer training phrases, resulting in better bot understanding and enhanced customer experiences.
• Conversation Autopilot directly assists customers with ChatGPT-like conversations
• Automatically generate no-code virtual assistants from your knowledge base content.
• Provide detailed and natural responses with no technical lift or setup — across both voice and digital.
• Voice AI automates expensive phone calls
• Generate efficient, human-feeling voicebots to handle phone conversations.
• Seamlessly drive customers to the voice or messaging channel best suited to help them based on their intent, sentiment, and specific needs.
• Ingest voice calls for analysis within LivePerson's platform, connecting all conversational data for insights across voice and messaging channels.
• Take advantage of all of LivePerson's existing capabilities in the voice channel.

LivePerson has partnered with several LLM providers to help brands leverage the best models for their unique needs, including with Cohere to deliver custom LLMs. The company is also co-innovating with some of the world's largest brands around the responsible use of AI for better employee and customer experiences.

"On top of our successes to date with LivePerson's Conversational AI and platform, LLMs and generative AI hold enormous promise to help us scale seamless and personalized conversations even further," said Bhavesh Panchal, Head of Channels and Digital Adoption at leading UK telecom TalkTalk. "LivePerson's new AI capabilities are agile and dynamic, and they give us the ability to learn about and adopt the latest generative technologies. Their safeguards will also help us ensure that our customers enjoy the same level of care and safety that they have come to expect, all while maintaining our brand persona to generate meaningful and accurate responses. We can't wait to begin leveraging these new capabilities to transform our employee and customer experiences."

As a reflection of LivePerson's belief in the value of its new suite of trustworthy AI solutions, interested businesses can try all features and capabilities, including messaging and voice channels, analytics and insights, and the agent workspace, within an easy-to-access, low-risk pay-as-you-go pricing framework.

"As a worldwide brand selling to more than 25 distinct markets, LivePerson's pay-as-you-go framework is the best fit for us," said Andrew McGuigan, Global Leader, Rider Care at Specialized, the global bike manufacturer. "Today, our CSAT score for messaging interactions with retailers and riders is 93% and growing. As we continue to roll out LivePerson's solutions across multiple languages, channels, and markets, pay-as-you-go provides us with the flexibility we need to strategically scale up AI for our business with a trusted partner."

Join LivePerson's historic generative AI launch event on May 2, 2023 at 12 PM ET to learn more. The event will include: 

• Keynotes from LivePerson leaders on how to create a vision for trustworthy AI at your organization — and execute it to deliver better business results.
• Exclusive LLM and Voice AI demos from LivePerson experts.
• Appearances from leaders at innovative brands and non-profits including EqualAI, Capitec, and TalkTalk.

About LivePerson, Inc.
LivePerson (NASDAQ: LPSN) is a global leader in Conversational AI. Hundreds of the world's leading brands — including HSBC, Chipotle, and Virgin Media — use our Conversational Cloud platform to engage with millions of consumers as personally as they would with one. We power nearly a billion conversational interactions every month, providing a uniquely rich data set to build connections that reduce costs, increase revenue, and are anything but artificial. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our Conversational AI, please visit www.liveperson.com.

Forward Looking Statements
Statements in this press release regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include without limitation, our ability to execute on and deliver our current business and product plans and goals, and the other factors described in the Risk Factors section of the Company's most recently filed Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 16, 2023 and as from time to time updated in LivePerson's Quarterly Reports on Form 10-Q. The list of Risk Factors is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements.

Contact: Mike Tague, mtague@liveperson.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/liveperson-upgrades-its-conversational-cloud-platform-with-trustworthy-ai-capabilities-to-redefine-how-businesses-put-generative-ai-and-llms-to-work-301806517.html

SOURCE LivePerson, Inc.

FAQ

What are the new features of LivePerson's upgraded platform announced on April 25, 2023?

LivePerson's upgraded platform features trustworthy Generative AI and Large Language Model capabilities, AI Safety Tools, and Conversation Autopilot to improve business communication.

How can LivePerson's AI solutions impact business costs and sales?

LivePerson's AI solutions are designed to reduce operational costs by up to 50% and can increase sales by hundreds of millions of dollars annually.

When is the launch event for LivePerson's new AI capabilities?

The launch event for LivePerson's new AI capabilities is scheduled for May 2, 2023.

What is the purpose of the pay-as-you-go pricing framework introduced by LivePerson?

The pay-as-you-go pricing framework aims to make AI solutions more accessible for businesses, allowing them to scale AI usage strategically.

What is the significance of the billion conversational interactions per month for LivePerson?

The billion conversational interactions per month provide LivePerson with a robust data set to enhance its AI capabilities and improve customer engagement.