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Artificial Intelligence

AI in Call Center Operations Market is Estimated to Cross USD 13.09 Billion by 2028 with a CAGR of 8.62% from 2022-2028; Growing Demand for Personalized and Efficient Customer Service to Create Ample Market Growth Opportunities

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Westford, USA, March 06, 2023 (GLOBE NEWSWIRE) — North America dominated the AI in call center operations market due to the rising need for businesses to improve the customer experience while reducing costs. Call centers can operate more efficiently with fewer agents by automating routine tasks and handling multiple customer interactions simultaneously. It can result in significant business cost savings, propelling market growth. As AI technologies continue to advance, we can expect to see even more innovations in call center operations in the years to come.

According to SkyQuest, a research firm, over 74% of customers prefer live chat over telephonic conversation. Such a trend is driven by several reasons, such as convenience, speed, and the ability to multitask while receiving support. Chatbots have become particularly popular in the banking sector, where they have helped save the industry nearly $5.6 billion in 2021, according to SkyQuest. With AI-powered technologies such as chatbots and live chat, businesses can provide faster and more efficient customer support while reducing costs.

Browse in-depth TOC on the “AI in Call Center Operations Market”

  • Pages – 248
  • Tables – 90
  • Figures – 73

Get a sample copy of this report:

https://skyquestt.com/sample-request/ai-in-call-center-operations-market

Call center artificial intelligence is a technology-driven virtual assistant that serves as a customer service representative. It can handle customer grievances through voice or speech instructions and chatbots. Several cutting-edge technologies power this innovative technology, including natural language processing, speech synthesis, and voice recognition. The use of call center artificial intelligence has revolutionized the customer service industry by providing quick and efficient support to clients.

Prominent Players in AI in Call Center Operations Market

  • IBM
  • NTT DATA Corporation
  • VMware, Inc.
  • Redcentric plc.
  • Oracle
  • Getronics
  • CenturyLink
  • Cisco Systems
  • Citrix Systems, Inc.
  • NEC Corporation
  • Joyent, Inc.
  • Dell Inc.
  • AT & T Intellectual Property
  • CenturyLink
  • Red Hat, Inc.

Browse summary of the report and Complete Table of Contents (ToC):

https://skyquestt.com/report/ai-in-call-center-operations-market

BFSI Segment to Drive High Revenue Growth as AI Help BFSI Companies Reduce Costs Associated with Call Center Operations by Automating Routine Tasks

According to recent market analysis, the BFSI (Banking, Financial Services, and Insurance) segment has emerged as a major player in adopting AI technology in call center operations. In 2021, this segment accounted for the majority of the share of AI in call center operations market. It is projected to continue its dominance in this area in the coming years. Cloud-based call centers are becoming increasingly popular and are gradually replacing on-premise call centers. This trend is evident in the United Kingdom, where 36% of contact centers have migrated to the cloud, and 54% have outlined plans to move within the next three years. These statistics, according to SkyQuest, indicate the significant potential of the cloud-based call center market.

The AI in call center operations market has witnessed significant growth globally, with North America leading in 2021. The region’s dominance in this market can be attributed to the highly functional e-commerce industry, which provides ample opportunities for deploying AI-based call center solutions. In addition, AI technology in call centers has gained momentum in recent years as it helps businesses streamline their customer service operations and enhance the overall customer experience.

On-Premise Segment is Gaining Major Traction as On-premise AI Solutions Allow Call Centers to Customize the Technology According to Their Specific Needs

The AI in call center operations market has witnessed remarkable growth in recent years, with the on-premise segment emerging as the dominant deployment mode in revenue share in 2021. The same patterns are likely to continue during the forecast period of 2022 to 2028. The primary reason behind the widespread adoption of on-premise deployment mode is its ability to provide businesses with robust safety and security measures for consumer data. By keeping the data within the organization’s premises, on-premise deployment mode ensures enhanced system security, and sensitive information remains protected.

According to market analysis, the Asia-Pacific region is set to experience significant growth in the AI in call center operations market from 2022 to 2028. Countries in Asia-Pacific are investing in AI-powered call center solutions to enhance their customer service capabilities and streamline their operations. China, for example, is rapidly expanding its call center operations to cater to the growing demands of its domestic market. In India and the Philippines, there is a strong focus on outsourcing call center operations for international businesses.

The AI in call center operations market is fiercely competitive, and companies must stay up-to-date with the latest industry trends and emerging opportunities to stay ahead of the game. The SkyQuest report offers valuable insights and recommendations for businesses aiming to expand their operations and make informed decisions that can lead to success in this dynamic market. With the right strategies, businesses can overcome challenges, capitalize on emerging opportunities, and achieve long-term success. 

Speak to Analyst for your custom requirements:

https://skyquestt.com/speak-with-analyst/ai-in-call-center-operations-market

Key Developments in AI in Call Center Operations Market

  • Walmart Health has announced its plans to significantly expand its healthcare footprint, open new clinics in two states, and increase its presence in existing markets. The retail giant is set to launch its health clinics in Missouri and Arizona while expanding its reach in Texas. This move will open 75 health locations across the United States by the end of 2024-2025. The company’s expansion plans come when there is a significant demand for healthcare services in the United States.
  • Zendesk, a customer service platform, has integrated intelligent triage into its system. This AI-guided feature allows for the automated routing of tickets based on various factors, including sentiment, urgency, and complexity. With intelligent triage, Zendesk users can streamline their customer service process and improve response times. The system uses AI algorithms to quickly categorize incoming tickets based on their level of urgency, complexity, and sentiment.
  • A South African insurance company has recently partnered with TCS, a leading global IT services provider, to revolutionize its service center operations using TCS ConversaTM, an advanced conversational artificial intelligence (AI) solution. With TCS ConversaTM, the insurer can provide seamless and personalized customer experiences while improving efficiency and reducing costs, ultimately boosting customer loyalty and driving revenue growth.

Key Questions Answered in AI in Call Center Operations Market Report

  • How do various factors impact the growth of the global market, and what challenges and opportunities do they present to different industries?
  • What are some successful strategies that leading companies in the global market have employed to overcome challenges and capitalize on new opportunities?
  • Which regional forces are predicted to experience the highest sales and revenue growth in the global market, and what factors contribute to this trend?
  • What are the primary obstacles that vendors operating in the global market may face, and how can they effectively address these challenges?

Related Reports in SkyQuest’s Library:

Global Automotive Dealer Management System Market

Global ETL Software Market

Global AI For Risk Management Market

Global AI In Cybersecurity Market

Global Metaverse in FnB Market

About Us:

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

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1 Apache Way, Westford, Massachusetts 01886

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USA (+1) 617-230-0741

Email: [email protected]

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Artificial Intelligence

JupiterOne and watchTowr announce partnership to protect business critical assets with broad exposure management capabilities

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SINGAPORE, May 2, 2024 /PRNewswire/ — watchTowr, a leader in external attack surface management (EASM) technology and fuelled by watchTowr Labs, a renowned vulnerability R&D capability, has formed a strategic partnership with JupiterOne. JupiterOne is a leader in cyber asset attack surface management (CAASM) technology. This collaboration enables customers to rapidly prioritize emerging threats within their constantly changing environments, focusing on fixing the most critical risks impacting their business, which enables an end-to-end continuous threat exposure management process (CTEM).

Over 28,000 CVE records were published in 2023; a figure that is expected to increase as attackers shorten the time from known vulnerability to exploit, reducing it from weeks to days. JupiterOne and watchTowr’s integrated solution empowers enterprises to discover their most critical and exploitable vulnerabilities, prioritize them with asset context based on business impact and receive an actionable remediation plan to improve security posture.
This partnership enables a complete continuous threat exposure management program, addressing the full spectrum of cyber risk management. The fully integrated solution provides continuous monitoring and assessment of both internal and external digital assets, allowing for prioritization and effective threat mitigation for a business’s most critical assets. “Our partnership with watchTowr is a game-changer” said Forte. “Combining our data aggregation with real-time asset discovery and automated security testing allows us to offer a unique, all-encompassing approach to exposure management.”
Benjamin Harris, CEO, watchTowr, said, “While the number of reported vulnerabilities continues to rise, the vulnerabilities that matter – in mission-critical, key systems – have exploded at an alarming rate. This reality, combined with the significant shift in speed by attackers to weaponize vulnerabilities – the ability to validate exploitability and prioritise actions based on real business risk has never been more vital. We’re excited to join forces with JupiterOne to give security teams around the globe this much-needed end-to-end capability.”
About JupiterOne:
JupiterOne is a cybersecurity startup delivering powerful software solutions to companies across all industries, providing deep insights to cyber assets and the relationships between, empowering security professionals to have true knowledge and ownership of their attack surfaces.
About watchTowr: 
watchTowr is a global cybersecurity technology company, built by former adversaries.
watchTowr’s world-class External Attack Surface Management and Continuous Automated Red Teaming technology is informed by years of experience compromising some of the world’s most targeted organisations and utilised by Fortune 500, financial services and critical infrastructure providers every day.
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Artificial Intelligence

Clarivate Declares Dividend on Mandatory Convertible Preferred Shares

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LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.

On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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Artificial Intelligence

CGTN: 3rd CMG Forum in Beijing discusses AI development

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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.

Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html

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