NICE Unveils CXone Mpower, The Ultimate CX-Aware AI Offering, Providing Continuous, Memory-Driven Human and AI Collaboration

Rhea-AI Summary

NICE has launched CXone Mpower, a first-of-its-kind CX-aware AI platform integrating CXone, Copilot, Autopilot, and Actions. The platform utilizes proprietary AI to provide memory-driven, context-aware collaboration between humans and AI across customer journeys. Key features include immediate augmentation of employee performance, dynamic skill transfer between humans and AI, and full CX-awareness to enhance personalization and operational efficiency. NICE aims to close the gap between customer expectations and organizational delivery, promising enhanced customer satisfaction and agent productivity.

Positive

• CXone Mpower leverages proprietary AI for continuous experience memory and CX awareness.
• The platform integrates multiple CX solutions into a unified offering, enhancing efficiency.
• Immediate augmentation boosts employee performance with AI-driven copilot and automation.
• Dynamic skill transfer enables virtual agents to understand and remember customer intents.
• Full CX-awareness enhances personalization and optimizes processes, boosting efficiency.
• Projected increase in AI-assisted customer interactions from 30% in 2023 to 54% by 2026.

Negative

• The press release lacks specific financial metrics or tangible ROI data.
• No detailed rollout or implementation timeline for CXone Mpower is provided.
• Potential high costs associated with integrating and maintaining such advanced AI solutions are unaddressed.
• Risk of over-reliance on AI, which may lead to potential lapses in human judgment in customer interactions.

Insights

Tech Expert

NICE's CXone Mpower represents a significant advancement in customer experience (CX) technology. The integration of AI with memory-driven capabilities sets it apart from traditional CX platforms. CXone Mpower's ability to remember customer interactions and preferences allows for a more personalized and efficient service, essential in today's competitive market.

This memory-driven AI technology enhances both employee performance and customer satisfaction. Employees can work smarter, not harder, thanks to advanced automation and copilot features. The dynamic skill transfer between humans and AI ensures that virtual agents can handle complex inquiries with the same proficiency as top-performing human employees.

From a technical perspective, the platform's interconnected data and applications provide real-time contextual insights, enabling businesses to respond promptly and effectively to customer needs. The proactive service component means the AI can predict customer requirements and optimize processes before issues arise, leading to a more seamless customer journey.

Market Research Analyst

The launch of CXone Mpower by NICE addresses a important demand in the market for an integrated CX AI solution. According to Metrigy's research, the increasing interaction between agents and AI highlights the necessity of such a platform. By 2026, an estimated 54% of customer interactions will involve AI, a significant increase from 30% in 2023.

For investors, this innovation represents a growth opportunity, as businesses are likely to adopt such technology to stay competitive. The enhancement of customer satisfaction and agent productivity can lead to higher customer retention rates and reduced operational costs, directly impacting a company's bottom line.

The competitive edge that CXone Mpower offers could potentially lead to increased market share for NICE. However, it's essential to monitor how effectively the technology is adopted and integrated by organizations. A slow adoption rate or implementation challenges could dampen the projected benefits.

CXone Mpower is the only complete CX AI offering enabling advanced augmentation, seamless skill transfer between humans and AI and advanced AI memory-based awareness

HOBOKEN, N.J.--(BUSINESS WIRE)-- NICE (Nasdaq: NICE) today announced the launch of CXone Mpower, bringing the entirety of CXone together with Copilot, Autopilot and Actions to create the world’s first and only CX-aware AI platform. CXone Mpower harnesses new and proprietary AI, including continuous experience memory and CX awareness, to bridge the experience perception gap between what organizations can deliver and what customers expect.

By injecting contextual insights at precise moments across the customer journey and utilizing interconnected data and applications to inform optimal outcomes, organizations can thrive in today's customer-centric landscape.

Delivering a competitive edge for CX

CXone Mpower responds to organizations’ demand for a complete CX AI offering. It unlocks the force multiplier effect of CX AI by addressing the following three mission-critical areas for CX organizations:

• Immediate Augmentation: With smart, memory-driven AI, CXone Mpower supercharges employee performance with copilot and automation capabilities, injecting augmented intelligence across employee workflows to enable employees to work smarter and faster, but not harder.
• Advanced Skillability: CXone Mpower enables dynamic skill transfer between humans and AI through “skillability” and reverse-prompting. Infusing automated intelligence into CX operations, CXone Mpower enables virtual agents to understand consumer intents, remember their preferences and resolve issues with even greater cognitive awareness and efficiency as top-performing employees.
• Fully Aware Proactive Service: CXone Mpower connects to every touchpoint and application in an organization to achieve full perception. It transforms operational norms with full CX-awareness to provide personalization at scale by proactively recommending actions, optimizing processes, and devising creative solutions.

Barry Cooper, President, CX Division, NICE, said, “CXone Mpower is the holy grail of CX. It lets businesses achieve it all. This is a culmination of the relentless innovation NICE has driven in the last decade, bringing all our solutions together in a single, transformative offering. CXone Mpower is a rich convergence of CXone’s interaction-centric platform, our best-of-breed solutions and Enlighten’s purpose-built AI for CX, supercharging employees, driving super AI-powered interactions and exponentially boosting overall performance.”

Robin Gareiss, CEO and Principal Analyst, Metrigy, said, “Metrigy’s research validates the need for an offering like CXone Mpower. CX leaders don’t want AI in siloes; they want it to move effortlessly through workflows and customer journeys. In 2023, 30% of customer interactions flowed back and forth between agent and AI; that’s projected to rise to 54% by 2026. This is where CXone Mpower will shine. By continuously improving AI at all touchpoints, both in real-time and historically, customer satisfaction and agent productivity will improve significantly.”

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; 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 in making additional acquisitions or 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; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, such as the impact of conflicts in the Middle East that may disrupt our business and the global economy; 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/20240611678712/en/

Corporate Media Contact

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

Investors

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

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

Source: NICE

FAQ

What is CXone Mpower?

CXone Mpower is a CX-aware AI platform by NICE that integrates CXone, Copilot, Autopilot, and Actions to enhance customer experience and operational efficiency.

How does CXone Mpower improve employee performance?

CXone Mpower uses memory-driven AI for immediate augmentation, enabling employees to work smarter and faster with copilot and automation capabilities.

What are the key features of CXone Mpower?

Key features include immediate augmentation, dynamic skill transfer between humans and AI, and full CX-awareness for enhanced personalization and process optimization.

When was CXone Mpower launched?

NICE launched CXone Mpower on [insert date from PR if available].

How will CXone Mpower impact the customer experience?

CXone Mpower aims to close the gap between customer expectations and organizational delivery by providing context-aware, personalized interactions, enhancing satisfaction and productivity.

What is the projected growth in AI-assisted customer interactions?

AI-assisted customer interactions are projected to increase from 30% in 2023 to 54% by 2026.