(MENAFN- Frost & Sullivan)
NICE Demonstrates the Spirit of CX Excellence at“Analyst Summit 2023”
NICE recently held an outstanding CX event in Cusco, Peru from October 10thto October 13th, 2023, which was attended by 35+ analysts from all over the world.
Amidst a wealth of thought-provoking discussions at the event, CEO Barak Eilam's insights on NICE's vision for the customer experience (CX) and President Barry Cooper's presentation on“Innovation Momentum” stood out as highlights.
Eilam advocated for a systemic approach that integrates the CX vision and strategy, involving single ownership of CX data, knowledge, customer communication channels, and applications, instead of a piecemeal approach that obstructs the delivery of excellent and sustainable CX. This approach, termed the“experience continuum,” ensures a seamless and continuous CX.
Cooper decoded the three elements of“experience continuum”:
Interaction-Centric Cloud Platform: Achieving the“experience continuum” involves leveraging an interaction-centric cloud platform. This platform consolidates customer interactions' data (real-time and historical, voice or digital, synchronous, or asynchronous) in a single location, fostering a comprehensive understanding of customer intent and journey.
CX Assets Convergence: Converging CX assets stands for bridging the gap between customer-related media and channels, customer data, and knowledge/insights. This eliminates information silos and enhances the speed of handling customer interactions.
AI-Fusion Continuum: An AI-fusion continuum that strategically balances the use of artificial intelligence (AI) in both assisted and automated interactions. NICE achieves this by leveraging augmented intelligence and AI through Enlighten Copilot and Enlighten Autopilot. Enlighten Actions, powered by GPT, delivers actionable and brand-specific insights when fed with customer data.
Continuing the AI conversation, John Willcutts (Vice President and General Manager, Digital Solutions Group), Aaron Rice (GM, CXone), and Kevin Lee (Global Head, Digital Sales and Strategy) presented their thoughts on AI management and building a secure AI environment.
Some of the key themes that were relayed included the company's commitment to continuously innovate and master AI-fusion without compromising on security, 1000+ Enlighten vertical-specific AI models, the Enlighten auto-pilot architectural overview, and a unique knowledge approach integrating knowledge base to boost EX and CMS (content management system) to improve CX.
Key Takeaways: AI must be purpose-built for CX; must be brand-aligned, precise, operationalized, and secure.
To offer a holistic and functional understanding of the company's latest innovations, Tim Harris (GM, CXone), Amir Cohen (Director, Product Marketing), Kevin Lee, Jennifer L. Wilson (Senior Product Marketing Manager, CX), and Carmit DiAndrea (Director, AI Data Management) showcased interactive demos that confirmed the ease-of-use of NICE solutions.
Other highlights of the event included the unfiltered executive Q&A session chaired by Barak Eilam and Barry Cooper and the engaging partner panel (featuring participation from Accenture, Generation-e, and Microsoft). The partner panel discussed ways in which customers are being supported to overcome digital transformation challenges. NICE confirmed that 75% of its business is partner-led, a fact that Frost & Sullivan in its Global Workforce Optimization (WFO) Radar (2023) has also been noted and attributed to NICE's continued growth. (NICE has been deemed as a leader on the growth axis in 2023 WFO Radar)
The company is witnessing strong international growth and recurring revenues from 100 countries, especially in Australia, Japan, Latin America, and the Middle East because of its strategic and methodical approach towards global expansion.
According to Ankita Singh, Senior Industry Analyst, Frost & Sullivan,“NICE has established its leadership with its pioneering solutions and acquisitions to solidify platform expertise across analytics, cloud, and outbound capabilities. However, the company's sustained focus to enhance AI capabilities through consistent R&D investment comprising of approximately 50% of revenues promises ever growing customer satisfaction and an overall stellar future for NICE.”
Analysts and Team NICE at Machu Picchu
About Ankita Singh
Ankita Singh has been working for 2 years with the information and communication technologies (ICT) sector as a Senior Industry Analyst at Frost & Sullivan. Ankita has 12 years of professional experience in research, writing, editing, content management, stakeholder management, and project management. At Frost & Sullivan, Ankita covers technologies related to customer experience and contact centers.
View all posts by Ankita Singh
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