NICE Advances AI-Driven Customer Experience with 2023 CXone Fall Release

Rhea-AI Summary

NICE (Nasdaq: NICE) announces the launch of the 2023 CXone Fall Release, featuring AI and automation enhancements, Microsoft Azure availability, and Next-Gen WFM Forecasting. The release aims to increase productivity and openness across the CXone platform, positioning it as the industry's leading interaction-centric platform.

Insights

Industry Analyst

The announcement by NICE of the 2023 CXone Fall Release signifies a strategic enhancement in customer experience (CX) management platforms. The integration of advanced artificial intelligence (AI) and automation into CXone, particularly with the inclusion of Enlighten AI Routing and AutoSummary, represents a significant shift towards more efficient and personalized customer interaction handling. The AI models tailored for CX, combined with large language models (LLMs), aim to streamline operations, reduce costs and improve agent performance by automating summaries of customer interactions.

Moreover, the expansion of cloud storage options to include Microsoft Azure alongside AWS indicates a commitment to flexibility and interoperability within cloud infrastructures. This is particularly relevant for organizations that are in the process of transitioning to cloud-based operations and require a seamless integration with existing Automatic Call Distributor (ACD) systems. The ability to integrate with any ACD, whether on-premises or in the cloud, is a noteworthy development that could influence the competitive landscape of cloud-based CX solutions.

The introduction of True to Interval (TTI) for workforce engagement management (WEM) also addresses the complexities of forecasting and scheduling in digital channels, which is crucial for maintaining service levels in asynchronous communication environments. The improved CXone dashboard further aids in transforming complex data into actionable insights, which is essential for decision-making in fast-paced customer service settings.

Financial Analyst

The release of the updated CXone platform by NICE has potential financial implications for the company and its investors. By enhancing the platform's AI and automation capabilities, NICE is positioning itself to capture a larger share of the growing market for AI-driven customer experience solutions. The cost-saving and performance-improving features of the platform, such as automated interaction summaries, may lead to increased adoption by organizations looking to optimize their customer service operations.

Furthermore, the strategic partnership with Microsoft Azure could open additional revenue streams and strengthen NICE's market position against competitors. The ability to offer a flexible and integrated cloud solution may attract new customers and retain existing ones, contributing positively to NICE's financial performance. However, the costs associated with research and development, as well as marketing and sales efforts to promote the new release, could impact short-term profitability. Long-term, the investment in innovation may enhance NICE's competitive edge and drive sustainable growth.

Technology Analyst

The technological advancements presented in the 2023 CXone Fall Release by NICE reflect a broader industry trend towards the convergence of AI, cloud computing and customer experience management. The utilization of generative AI to automate customer interaction summaries is a significant step in reducing the manual effort required in customer service, potentially leading to higher efficiency and accuracy. The platform's compatibility with various ACD systems and its cloud-agnostic approach, now including Microsoft Azure, showcases a forward-thinking strategy that prioritizes interoperability and customer choice in technological solutions.

The True to Interval (TTI) forecasting tool represents an innovative approach to managing the complexities of digital interactions, which are becoming increasingly prevalent. This tool's ability to account for the unique nature of digital communication could set a new standard for workforce management in digital environments. From a technological standpoint, the enhancements in the CXone platform may drive further adoption and set new benchmarks for AI application in the customer experience sector.

New Enlighten AI innovation, Microsoft Azure availability, and Next-Gen WFM Forecasting help CXone customers increase productivity without adding complexity

HOBOKEN, N.J.--(BUSINESS WIRE)-- NICE (Nasdaq: NICE) today announced the launch of the 2023 CXone Fall Release, expanding AI and automation and increasing openness across the CXone platform. CXone is the industry’s leading interaction centric platform, enabling organizations to effectively manage all interactions - attended and unattended. As organizations look to infuse AI and automation throughout their CX operations, this release further enhances NICE’s leadership gap with unique capabilities that allow organizations to succeed and compete in the digital era.

Creating a full CX AI platform

With major enhancements to Enlighten AI Routing and Enlighten AutoSummary, CXone now offers fully automated AutoSummary capabilities that are fully native and support voice and digital interactions utilizing generative AI to automate objective summaries for every customer interaction. CXone AutoSummary combines Enlighten’s industry-specific CX AI models with LLMs to help CX organizations save time and cost and improve agent performance. Additionally, with this release, organizations can create best-in-class CX, connecting consumers with agents based on sentiment and with extreme personalization.

Expanded cloud options enhance cloud storage and implementation

With this release, NICE is delivering expanded cloud storage vendor options. In addition to the AWS storage option, CXone now has a storage option with Microsoft Azure, strengthening NICE’s integration with Microsoft, giving customers full flexibility, allowing organizations to easily integrate CXone into their CX operations on their choice of public cloud. NICE has also announced CXone applications’ unique ability to work with any ACD, on-premises or in the cloud. This new strategic capability is designed to meet the unique needs of brands transitioning to cloud-based operations, allowing organizations to seamlessly integrate their existing ACD systems with CXone applications and shift to the cloud at their own pace. With this latest offering, CXone is the industry's leading AI-fueled CX platform capable of seamlessly integrating with multiple ACDs.

Advanced Digital Interactions Management with True To Interval (TTI)

NICE continues to innovate and maintain leadership as we bring workforce engagement management (WEM) to the Digital era. NICE’s new True to Interval (TTI) enables organizations to consider the unique challenges of digital channels, revolutionizing forecasting and planning. TTI accurately forecasts and schedules among the complex demands of the digital landscape, taking into account asynchronous, periodic interactions. NICE is the leading WEM provider that offers this level of accuracy. The new CXone dashboard improves visibility and ease of use, breaking down complex data into clear and digestible business insights.

Barry Cooper, President, CX Division, NICE, said, “AI is creating a ripple effect driving organizations to create full convergence of CX assets. As organizations adopt AI, they realize that the only way to do it is with an all-encompassing interaction centric platform. With the new fall release, CXone is now the only platform that can serve as the foundation for any organization’s CX AI strategy.”

“Every CX-oriented enterprise recognizes the need to incorporate AI in their customer and agent workflows for more personalized interactions and task completion,” said Derek Top, Research Director and Senior Analyst with Opus Research. “The latest CXone release allows them to modernize their CX infrastructure and augment their service offerings. This is one of the reasons that NICE and CXone rated highly in Opus Research’s competitive analyses.”

About NICE
With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. www.nice.com

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Cooper, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231220658956/en/

Corporate Media Contact

Christopher Irwin-Dudek, +1 201 561 4442, ET, media@nice.com

Investors

Marty Cohen, +1 551 256 5354, ET, ir@nice.com

Omri Arens, +972 3 763 0127, CET, ir@nice.com

Source: NICE

FAQ

What is the latest release announced by NICE (Nasdaq: NICE)?

The latest release announced by NICE (Nasdaq: NICE) is the 2023 CXone Fall Release, which focuses on AI and automation enhancements, Microsoft Azure availability, and Next-Gen WFM Forecasting.

What are the major enhancements in the CXone Fall Release?

The major enhancements in the CXone Fall Release include AI and automation improvements, expanded cloud storage options with Microsoft Azure, and advanced Digital Interactions Management with True To Interval (TTI).

How does CXone AutoSummary utilize AI?

CXone AutoSummary utilizes generative AI to automate objective summaries for every customer interaction, combining industry-specific CX AI models with LLMs to save time and cost for CX organizations.

What new cloud storage options are available with the CXone Fall Release?

The CXone Fall Release offers expanded cloud storage options, including Microsoft Azure in addition to the existing AWS storage option.

What is the unique capability of CXone applications with any ACD?

The unique capability of CXone applications is the ability to work with any ACD, on-premises or in the cloud, allowing organizations to seamlessly integrate their existing ACD systems with CXone applications.

What is the significance of NICE's True to Interval (TTI) in the latest release?

NICE's True to Interval (TTI) revolutionizes forecasting and planning by accurately forecasting and scheduling among the complex demands of the digital landscape, taking into account asynchronous, periodic interactions.