Verint Named a Leader in the IDC MarketScape for Worldwide General Purpose Conversational AI Platforms 2021 Vendor Assessment

Rhea-AI Summary

Verint (NASDAQ: VRNT) has been recognized as a leader in the IDC MarketScape 2021 for its robust Conversational AI solutions. The assessment evaluated 15 vendors, highlighting Verint's strengths in pretrained models, analytics, and customization. Its deployment can occur in the cloud or on-premises, supporting over 40 languages. Clients praised Verint for strong conversation analytics and reporting capabilities, vital for large enterprises.

Positive

• Recognized as a leader in IDC MarketScape for Conversational AI solutions.
• Cited strengths include pretrained models, analytics, and customization.
• Supports deployment in cloud or on-premises environments.
• Rated highly for flexibility in building and managing conversational AI solutions.

Negative

• None.

MELVILLE, N.Y.--(BUSINESS WIRE)-- Verint^® (NASDAQ: VRNT), The Customer Engagement Company^™, today announced that Verint has been named a leader in the IDC MarketScape: Worldwide General Purpose Conversational AI Platforms 2021 Vendor Assessment Report.^* After a thorough evaluation of vendor strategies and capabilities, IDC positioned Verint in the Leaders category for delivering robust conversational artificial intelligence (AI) solutions.

The IDC MarketScape assesses the products, services, and competitive fitness of 15 vendors helping organizations leverage conversational AI capabilities to create automated solutions that excel in speech, text, intent, and language recognition, and respond in a way that mimics human conversation. Verint Conversational AI, part of the Verint Customer Engagement Cloud Platform, includes the Verint Intelligent Virtual Assistant (IVA) and was cited by IDC for strengths including pretrained models, analytics, advanced reporting, and customization capabilities.

The IDC MarketScape recognizes Verint for deployment choice either in the cloud or on premises, and out-of-the-box support for more than 40 languages and dialects. IDC analysts also highlight Verint’s flexibility in building, deploying, and managing conversational AI solutions at both the departmental and enterprise-wide levels, and/or as a point solution. As well, the IDC MarketScape notes Verint’s extended focus beyond the customer engagement space to support patient care, employee knowledge self-service, automated human resources, IT helpdesk, and ticketing.

“After a thorough examination of capabilities, we positioned Verint as a leader in our IDC MarketScape evaluation,” said Dave Schubmehl, research vice president with IDC. “Organizations seeking strong analytics, reporting, and a close implementation partner should consider Verint for Conversational AI use cases.”

The IDC MarketScape report states, “Verint’s customers praised the strength of its pretrained models, both in terms of overall accuracy as well as accuracy in domain-specific use cases.” Customers are pleased to be able to work closely with Verint Conversational AI experts and customize as needed. The IDC MarketScape also noted that the conversation analytics and reporting capabilities, including the ability for contact centers to analyze and monitor agent performance, are well suited for large enterprises.

“Through our work with many of the world’s most respected and trusted brands, we’ve been able to develop conversational AI that fits the rigors and requirements of leading organizations to deliver and grow exceptional customer experiences,” says Verint’s Jen Snell, vice president, GTM Strategy, Conversational AI. “This IDC MarketScape evaluation demonstrates Verint is a leader within the Conversational AI space, and validates our belief that brands have an imperative to deliver exceptional conversational experiences as part of their digital transformation strategies for both customers and the workforce.”

Verint Conversational AI works with an enterprise’s existing ecosystem, as well as other Verint Cloud Platform applications including Social and Private Messaging, Engagement Orchestration, Knowledge Management, Community, Workforce Engagement and Experience Management.

About IDC MarketScape:

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Verint

Verint^® (Nasdaq: VRNT) helps the world’s most iconic brands – including over 85 of the Fortune 100 companies – build enduring customer relationships by connecting work, data and experiences across the enterprise. The Verint Customer Engagement portfolio draws on the latest advancements in AI and analytics, an open cloud architecture, and The Science of Customer Engagement^™ to help customers close The Engagement Capacity Gap^™.

Verint. The Customer Engagement Company^™. Learn more at Verint.com.

*Source: IDC MarketScape, Worldwide General Purpose Conversational AI Platforms 2021 Vendor Assessment Report (Doc #US47354421), October 2021

This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2021, our Quarterly Report on Form 10-Q for the quarter ended July 31, 2021, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

VERINT, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER ENGAGEMENT are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

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Media Relations

Amy Curry

amy.curry@verint.com

Analyst Relations

Ryan Zuk

ryan.zuk@verint.com

Investor Relations

Matthew Frankel

matthew.frankel@verint.com

 

Source: Verint

FAQ

What did Verint achieve in the IDC MarketScape report for 2021?

Verint was named a leader in the IDC MarketScape: Worldwide General Purpose Conversational AI Platforms 2021 Vendor Assessment Report.

What are the strengths of Verint's Conversational AI solutions?

Verint's Conversational AI solutions are noted for their pretrained models, analytics, advanced reporting, and customization capabilities.

How does Verint support deployment of its AI solutions?

Verint allows deployment either in the cloud or on-premises, supporting over 40 languages and dialects.

What industries benefit from Verint's Conversational AI?

Verint's solutions support various sectors, including customer engagement, patient care, HR, and IT helpdesk.

How did customers react to Verint's Conversational AI capabilities?

Customers praised Verint for the accuracy of its pretrained models and its strong analytics and reporting features.