Verint Showcases Cloud Platform Innovations at its Engage21 Conference Powering Real-Time Work

Rhea-AI Summary

Verint (NASDAQ: VRNT) is showcasing its latest AI and analytics innovations at the Engage21 customer conference, held May 19-21. Key offerings include Real-Time Agent Assist, Contextual Knowledge, and Verint Intelligent Virtual Assistant. These solutions empower employees with real-time guidance, enhancing productivity by 2.4 times and reducing service costs by 11.5 times, according to Aberdeen Research. Verint aims to address the Engagement Capacity Gap faced by organizations post-COVID, enabling better customer engagement.

Positive

• Showcasing AI innovations at Engage21 event, enhancing company visibility.
• Real-Time Agent Assist enables significant productivity improvements (2.4 times) and reduces service costs (11.5 times).
• Innovative solutions support organizations in managing increased customer interaction demands.

Negative

• None.

Engage21 — Verint^® (NASDAQ: VRNT), The Customer Engagement Company^™, today announced it is showcasing the latest innovations leveraging artificial intelligence (AI) and analytics to support the real-time work imperative at its customer conference, Verint Engage21, taking place May 19-21.

These solutions – Real-Time Agent Assist, Contextual Knowledge, and Verint IVA for Agent Assist – are all powered by Verint DaVinci AI and Analytics. Verint Da Vinci AI and Analytics infuses advanced machine learning models, natural language processing, intent models, sentiment models and analytics engines into the Verint Customer Engagement Cloud Platform and solutions portfolio, leveraging an applied AI approach to drive improved business outcomes.

While AI has historically been a black-box technology managed exclusively by IT, it has moved from the data center to the farthest reaches of the enterprise to fulfill its role of empowering employees, embedding AI in human activity to support better, faster decision making in real-time. This is critical to empower organizations to handle increasing customer engagement demands and complexity in the post-COVID era.

“Our research finds that agents spend 14% of their time seeking information they need to help customers,” said Omer Minkara, Aberdeen vice president and principal analyst in the Aberdeen report, The ROI of Real-Time Agent Guidance: How AI Helps Align Agent Performance With Customer Expectations.¹ “Providing automated real-time guidance allows agents to find what they need and boost productivity. Organizations using these AI capabilities enjoy 2.4 times greater annual increase in agent productivity and 11.5 times greater annual improvement (a decrease) in service costs.”

Taking AI from Breakthrough Science to High-Impact Solutions

Key innovations in the Verint Cloud Platform featured on the main stage at Engage21 are:

Real-Time Agent Assist combines in-the-moment AI analysis of customer interactions and agent desktop activities – and in real-time, automatically detects unique moments of truth such as customer complaints, escalations, positive and negative sentiment, long silences, interruptions, compliance risks, coaching opportunities and more. Agents and managers receive real-time guidance, alerts and coaching with next best action and insights on how to improve interactions.

Contextual Knowledge uses patented AI to create a more automated, natural and effective way to connect people to answers. AI-infused contextual knowledge can be surfaced automatically and in real time so that agents and managers can respond with the right answer avoiding long searches for knowledge.

Verint Intelligent Virtual Assistant (IVA) for Agent Assist provides human agents with AI-powered continuous support during calls and chats and allows agents to improve average handle time, response accuracy and compliance, training ramp time, and customer experience. The solution eliminates escalations to managers, and manual searches for answers as it learns each business and its respective processes to intelligently support the workforce.

“Customers and employees need answers at the speed of now, and that’s why real-time work solutions and strategies are a huge focus of our Future of Work theme at our customer conference this year,” says Verint’s Celia Fleischaker, chief marketing officer. “As organizations seek to resolve the Engagement Capacity Gap, they need solutions to help with understanding and acting on rapidly changing customer behaviors, while managing the growth in volume of customer interactions -- the two biggest challenges voiced by respondents in our survey conducted in November-December 2020. As well, they are empowering employees to be successful in the modern workforce, where rapid innovation in AI and analytics is shaping the Future of Work in customer engagement.”

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.

¹ Source: Aberdeen Strategy & Research, The ROI of Real-Time Agent Guidance: How AI Helps Align Agent Performance With Customer Expectations, August 2020.

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, 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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FAQ

What new innovations is Verint showcasing at Engage21?

Verint is showcasing Real-Time Agent Assist, Contextual Knowledge, and Verint Intelligent Virtual Assistant to enhance customer engagement and employee productivity.

How does Verint's Real-Time Agent Assist improve productivity?

It provides automated, real-time guidance to agents, helping them to find necessary information quickly, thus increasing productivity by 2.4 times.

When is the Engage21 conference taking place?

The Engage21 conference is scheduled from May 19 to May 21.

What is the main focus of Verint's AI innovations?

Verint's AI innovations focus on addressing the Engagement Capacity Gap by empowering employees and improving real-time decision making.

What benefits do organizations gain from Verint's AI capabilities?

Organizations using Verint's AI capabilities experience significant productivity increases and reduced service costs, as highlighted by research from Aberdeen.