Verint Named Leader in 2023 Opus Research Conversational AI Evaluation

Rhea-AI Summary

Verint (NASDAQ: VRNT) announces its Intelligent Virtual Assistant (IVA) solution has received top scores and is positioned as the leader for product completeness, flexibility, and strategic potential among 16 solution providers evaluated in the 2023 Conversational AI Intelliview report by Opus Research. Verint IVA is cited for exceeding criteria and offering demonstrable advantages in all four of the report’s scoring components including state-of-the-art capabilities, integration points and scalability, real-world success, and vision. Verint's Heather Richards, vice president, go-to-market strategy, highlights the importance of Verint's Digital and Voice Containment Bots in driving an entirely new level of CX automation for brands.

Verint Open Platform including Conversational AI and Containment Bots Elevates Customer Experiences, Increases Employee Productivity and Reduces Costs Through Scalability, Real World Success and Vision for LLMs and Generative AI

MELVILLE, N.Y.--(BUSINESS WIRE)-- Verint^® (NASDAQ: VRNT), The Customer Engagement Company^™, today announced that its Intelligent Virtual Assistant (IVA)^™ solution has received top scores and is positioned as the leader for product completeness, flexibility and strategic potential among 16 solution providers evaluated in the 2023 Conversational AI Intelliview: Decision Makers’ Guide to Enterprise Intelligent Assistants report by Opus Research.^*

Verint IVA is cited for exceeding criteria and offering demonstrable advantages in all four of the report’s scoring components including state-of-the-art capabilities, integration points and scalability, real-world success, and vision.

"Verint rated well by covering all the bases for enabling successful conversational AI deployments among organizations looking to transform engagement through intelligent automation,” said Derek Top, research director and senior analyst, Opus Research. “They built an impressive track record by taking an open platform approach with flexible tools for managing purpose-specific bots that empower agents and assist in routing, queuing and analytics, all supported by a vision that scales across multiple industries.”

In the report Opus noted that, in addition to providing the tools and framework for service creation and analytics, the highest ranking vendors support the use of Large Language Models (LLMs) and Generative Artificial Intelligence (AI), with special attention to those that establish a framework for privacy and trust.

“The conversational AI landscape is changing rapidly in light of advancements made possible by LLMs and Generative AI,” says Verint’s Heather Richards, vice president, go-to-market strategy. “To be recognized by Opus Research as a leader for our IVA including our Digital and Voice Containment Bots is fantastic.”

Verint Containment Bots Delivering CX Automation Results
According to a recent Verint survey, 74 percent of respondents said they have used a chatbot. Of those, 64 percent said they had a negative experience. The research demonstrates that consumers want to use self-service options, but brands need to go beyond using simple decision trees and introduce conversational AI that understands a wide range of customer intents and can deliver efficient and effective service.

Successfully containing the interactions in the self-service environment is key to saving millions of dollars and elevating CX. By letting bots handle repetitive customer inquiries or issues quickly and efficiently, agents are freed up to focus on resolving higher value calls.

“Today’s consumer has outgrown the limited capabilities of common chatbots. By reducing friction created by simplistic chatbots and voice assistants and increasing intelligence, we are driving an entirely new level of CX automation for brands,” says Richards. “An example is Verint Voice and Digital Containment Bots that easily integrate with enterprise applications and deliver personalized self-service experiences effectively resolving customer inquiries and reducing inbound calls.”

Verint Specialized Bots are designed to drive CX automation by supporting specific roles within a contact center and throughout the enterprise. They accelerate and automate existing workflows and seamlessly integrate into the workforce to enhance customer engagement. Integrating bots is also a cost-effective alternative to hiring that will enhance employee experience and offer a valuable solution for bridging the Engagement Capacity Gap where organizations must do more with less.

Learn more about Verint IVA including the Voice and Digital Containment Bots here.

About the 2023 Decision Makers’ Guide to Enterprise Intelligent Assistants
This seventh edition of the Opus Research report offers a comprehensive assessment of enterprise-grade Intelligent Assistant solutions to support customer care, self-service, employee assistance, messaging, and device control. The results are based on five enterprise specific criteria: feature-rich and highly functional resources; robust connectors to sources of knowledge and back-office systems; proven record of transformation without disruption; vision for LLMs and Generative AI to augment offerings; and shifting from rule-based, task-specific language models. Click here for a complimentary copy of the report.

About Verint
Verint^® (NASDAQ: VRNT) helps the world’s most iconic brands continuously elevate the customer experience (CX) and reduce operating costs. More than 10,000 organizations in 175 countries – including over 85 of the Fortune 100 companies – rely on Verint’s open customer engagement platform to harness the power of data and AI to maximize CX automation.

Verint, The Customer Engagement Company^®, is proud to be Certified^™ by Great Place To Work^®. Learn more at Verint.com.

^{*Opus Research 2023 Conversational AI Intelliview: Decision Makers’ Guide to Enterprise Intelligent Assistants. Published October 2023.}

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, 2023, 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, VERINT DA VINCI, VERINT OPEN CCAAS, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, AND THE ENGAGEMENT CAPACITY GAP are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231213471744/en/

Media Relations

Sue Huss

sue.huss@verint.com

Analyst Relations

Ryan Zuk

ryan.zuk@verint.com

Investor Relations

Matthew Frankel

matthew.frankel@verint.com

 

Source: Verint

FAQ

What is Verint's ticker symbol?

The company's ticker symbol is VRNT.

What is the 2023 Conversational AI Intelliview report by Opus Research?

It is a report evaluating 16 solution providers in the field of Conversational AI, where Verint's Intelligent Virtual Assistant (IVA) solution received top scores and is positioned as the leader for product completeness, flexibility, and strategic potential.

What is the significance of Verint IVA being cited for exceeding criteria in the report?

It demonstrates the state-of-the-art capabilities, integration points and scalability, real-world success, and vision of Verint's IVA solution.

What is the importance of Verint's Digital and Voice Containment Bots in CX automation?

They drive an entirely new level of CX automation for brands by reducing friction created by simplistic chatbots and voice assistants and increasing intelligence.

What is the percentage of respondents who have used a chatbot according to a recent Verint survey?

74 percent of respondents said they have used a chatbot.

What is the significance of containing interactions in the self-service environment according to Verint?

It is key to saving millions of dollars and elevating CX.

What are Verint Specialized Bots designed for?

They are designed to drive CX automation by supporting specific roles within a contact center and throughout the enterprise, accelerating and automating existing workflows.

What is the role of Verint's bots in bridging the Engagement Capacity Gap?

They offer a cost-effective alternative to hiring and enhance employee experience, offering a valuable solution for organizations to do more with less.