In 2016, DeepMind’s AlphaGo famously defeated Lee Sedol, an international Go champion, becoming the first computer program to beat a human world champion. In 2018, LawGeex, an AI contract review platform, pulled the same stunt on human lawyers. The AI system achieved a 94% accuracy rate at surfacing risks in Non-Disclosure Agreements (NDAs). Experience human lawyers average out at an 85% accuracy for the same task. The study, conducted in collaboration with Duke and Stanford Law Schools, pitted AI against 20 top US-trained lawyers with decades of experience, specifically in reviewing NDAs, one of the most common agreements in...Read More
Author: Marlene Jia
People have become picky eaters. Our ancestors ate whatever they could forage, but modern day Homo Sapiens expect gourmet meals at street food prices on demand. Consumers prefer fast, affordable, healthy, and delicious. To meet fickle consumer tastes, food and beverage (F&B) companies look to artificial intelligence to help them scale new products and stay profitable. Whether they are hacking logistics, human resources, compliance, or customer experience, these smart brands recognize the game-altering impact of AI on how fast-moving consumer goods (FMCG) are produced, packaged, stored, distributed, marketed, and consumed. Artificial intelligence and machine learning are impacting fundamentally the...Read More
The public is riveted by artificial intelligence, but most people don’t have a clue what “AI” actually is. Media hype and populist stories confuse rather than clarify. How does popular perception impact the vast array of Silicon Valley companies building actual AI products and services? We spoke to leading entrepreneurs and executives to learn their unique challenges with selling and marketing AI. Not surprisingly, the biggest challenge AI entrepreneurs collectively identified was lack of buyer understanding regarding what AI entails and requires. “We’re early in a convoluted market. AI means a lot of things,” says Christian Monberg, co-founder of...Read More
As automation becomes the best way to handle a growing business without the accompanying growth in customer service costs, increasingly more enterprise software vendors are entering this space. This diverse array of providers, from start-ups to large enterprises, can be categorized based on these 8 main offering types: 1. Contact Center Software Providers in this category represent the major players in the space of AI-powered customer care. They provide either standalone virtual agents or virtual assistants designed to be paired with a human agent in a call center context. Such offerings allow for the personalization of customer interactions...Read More
If you’re applying automation or artificial intelligence to customer experience, you need to be able to benchmark whether or not technology is truly improving both your employee and customer experience. Here are the 8 key metrics that establish the efficacy of a customer service system. 1. Average Handle Time The Average Handle Time (AHT) describes the average duration of a single transaction, from customer’s initiation through to the conclusion of the request. This includes talk time, hold time and time spent after the call to conclude the transaction. AHT is one of the most important factors in analyzing...Read More
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