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Contact Center Outsourcing Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)

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New York, Aug. 10, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Contact Center Outsourcing Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06484303/?utm_source=GNW
The Contact Center Outsourcing Market size is expected to grow from USD 100.93 billion in 2023 to USD 132.92 billion by 2028, at a CAGR of 5.66% during the forecast period (2023-2028).

Key Highlights
Some industry leaders stand by outsourcing critical contact center needs, while some disagree with such an option with the notion that keeping contact centers close to their operations is worth the additional costs.
Delivering personalized experiences to customers is becoming more and more important to businesses. Contact center outsourcing providers are using advanced technologies like artificial intelligence (AI) and data analytics to offer specialized solutions that help businesses increase customer happiness and loyalty.
Customers anticipate frictionless interactions across several touchpoints as a result of the growth of communication channels. To provide omnichannel assistance, contact center outsourcing businesses are enhancing their capacity and combining channels, including voice, email, chat, social media, and self-service alternatives. This enables companies to provide reliable and practical client service, increasing customer satisfaction.
For the delivery of effective and efficient customer service, contact center outsourcing companies make investments in cutting-edge technologies and qualified personnel. The expertise of the outsourcing partner’s team in areas like multilingual support, technical debugging, and knowledge of a particular industry can be useful to businesses. As a result, companies can increase operational effectiveness while concentrating on their core capabilities.
Airbnb, the online marketplace for lodging and experiences, partners with contact center outsourcing firms to offer multilingual customer support. As Airbnb caters to a global user base, outsourcing its customer service operations helps assist in multiple languages, ensuring a seamless experience for hosts and guests worldwide.
Customer data is transferred to outside service providers through contact center outsourcing, who are frequently based overseas. This makes it difficult to ensure adherence to data protection laws like the General Data Protection Regulation (GDPR) of the European Union or the California Consumer Privacy Act (CCPA). There may be serious fines and legal repercussions if you don’t follow these rules. Businesses that are thinking about outsourcing their contact center operations must navigate challenging regulatory regimes to protect client data.
Call volumes for businesses in the healthcare, travel, and e-commerce sectors increased as a result of the pandemic. Regarding COVID-19, customers made more requests, inquiries, and complaints, which raised the need for contact center help. During the pandemic, contact center outsourcing firms were forced to make immediate adjustments to accommodate the increased call volumes and address the changing demands of their clients, including disseminating advice on safety precautions, handling cancellations, and giving assistance for remote work arrangements. There has also been an impact of the Russia-Ukraine war on the overall packaging ecosystem.

Contact Center Outsourcing Market Trends

Multi Channel Customer Engagement Trends are Expected to Boost the Market Growth

Businesses may interact with clients through instant messaging platforms thanks to the artificial intelligence (AI)-powered chatbots and messaging apps that contact center outsourcing providers are integrating into their offerings.
For instance, a significant e-commerce business collaborates with a contact center outsourcing company to develop a chatbot solution that manages customer inquiries, order monitoring, and product recommendations through well-known messaging platforms like WhatsApp and Facebook Messenger. This multi-channel strategy improves client engagement and offers prompt, convenient service.
Contact center outsourcing businesses are adding the ability to provide customer care on social media. They support companies in keeping an eye on and reacting to customer questions, comments, and concerns on social media sites like Twitter, Facebook, and Instagram.
According to Freshdesk Chat 2021, for rapid responses, 79% of users prefer live chat assistance. Customer satisfaction for live chat is 73% compared to 61% for email help and 44% for phone assistance. The average wait time for live chat has been calculated to be 46 seconds. On chat assistance, 69% of customers prefer interacting with a human agent over chatbots.
Voice-to-text analytics are used by TTEC Holdings, Inc., a top global provider of customer experience services, to record and examine client interactions. With the use of their technology, businesses can extract text from customer calls and use it to analyze client discussions across several channels. TTEC assists companies in identifying consumer pain spots, enhancing service offerings, and improving the entire customer experience by utilizing this multi-channel approach.
Sitel Group, a global contact center outsourcing company, supports businesses in implementing self-service options and knowledge bases as part of their multi-channel customer engagement strategy. Sitel assists businesses in developing comprehensive self-service portals and knowledge bases, which include FAQs, tutorials, and troubleshooting guides.

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North America is Expected to Hold Major Share

In North America, many contact center outsourcing companies switched from conventional on-premises configurations to cloud-based contact center solutions. Greater flexibility, scalability, and cost-efficiency provided by cloud-based solutions allowed companies to quickly establish and manage their contact center operations. The demand for remote work capabilities, an improved client experience, and increased operational efficiency were the trends that drove this development.
Customers in North America were becoming more accustomed to expecting consistent, seamless experiences across several channels. Contact center outsourcing companies have been integrating channels like voice, email, chat, social media, and self-service alternatives to provide omnichannel customer assistance. This provided simplicity and raised customer satisfaction by enabling firms to interact with customers on their preferred channels.
With the growing importance of customer data and privacy, contact center outsourcing providers in North America were strengthening their data security measures and ensuring compliance with industry regulations. Data protection and privacy concerns were driving the implementation of robust security frameworks, secure data storage, and adherence to standards like the Payment Card Industry Data Security Standard (PCI DSS) and General Data Protection Regulation (GDPR).

Contact Center Outsourcing Industry Overview

The contact center outsourcing market is competitive, with mild fragmentation and multiple vendors with region-specific operations. Many companies are increasing their market presence by investing in introducing new or improved solutions or by entering into strategic mergers and acquisitions.

In May 2023, the 72-hectare Iloilo Business Park in the Mandurriao District in the province and city of Iloilo rolled out the red carpet to welcome the business process outsourcing (BPO) company Atento. Atento had planned to open its first call center in the Philippines at that location.

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In April 2023, NobelBiz, a telecom and software provider for contact centers, expanded its cloud contact center omnichannel ecosystem. As part of this expansion, they introduced OMNI+ Awaken Scripting, a user-friendly and flexible scripting tool. This new addition allows contact centers to significantly reduce the time, cost, and technical expertise required for writing, publishing, and modifying scripts. By leveraging this alliance, contact centers can streamline their scripting processes and enhance operational efficiency.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06484303/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Asia Pacific View: Foreigners Looking for the Most Practical Smart Technology at the 2024 World Intelligence Expo

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BEIJING, June 28, 2024 /PRNewswire/ — Bionic robots that speak both Chinese and English can have the same skin and nails as humans? A flying car powered solely by wind can have a maximum payload of 160 kg? A smart wheelchair can control its operation with just the “mind”? Kevin and Daria, two foreign bloggers, have experienced during the World Intelligence Expo held in Tianjin how the artificial intelligence can empower people’s future lives in industries such as technology, trade, logistics and cultural tourism.

 
With the theme of “Intelligent Travel Empowering Future”, the Expo integrates exhibitions, experiences and events, attracting more than 550 exhibitors and institutions from all over the world, including more than 70 well-known enterprises such as Huawei, Alibaba, Baidu and Danfoss, and 57 universities and research institutions such as Peking University, Tsinghua University, Nankai University and Tianjin University. The Expo set up 10 major themes such as artificial intelligence, intelligent networked vehicles, intelligent manufacturing and robots, covering the frontier hot spots of the intelligent industry. A number of cutting-edge new technologies, new products, and new experiences from all over the world were showcased centrally, reminding people that technology will completely change the lifestyles in the future.
At the exhibition site, various intelligent robot products such as humanoid robots, bionic robots, and intelligent robot dogs interact with the audience on the spot. They are no longer fantasies in science fiction or movies, but play an important role in monitoring, rescue, cultural tourism and other fields. In the low-altitude economic exhibition area, a number of drones, flying vehicles, and aerospace technology companies collectively display advanced technology products. A low-altitude aircraft shaped like a helicopter brought by the German company Tensor can independently complete cargo transportation, takeoff and landing according to pre-set routes according to the instructions. Robotic arms incorporating technologies such as 5G, IoT, edge computing, rocker robotics, and artificial intelligence can shoot high-frame-rate video and support autofocus, achieving effects that cannot be achieved in traditional shooting modes. Viewers can also have more novel experiences with the help of smart technology.
The Expo also hosted three major events such as the Asia-Pacific Robotics World Cup Tianjin International Invitational, the World Intelligent Driving Challenge, and the International Intelligent Sports Conference. A number of technological achievements and innovative applications were demonstrated in the competitions. For exhibiting companies, this Expo is also an opportunity to further promote the transformation of enterprises to information technology and digitalization, and will also bring huge business opportunities.
Contact: Guo RanPhone: 008610-68332663Email: [email protected] 
Video: https://www.youtube.com/watch?v=VjjzurfN_r0 Logo:  https://mma.prnewswire.com/media/2451195/logo_Asia_Pacific_View_Logo.jpg
 

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Tech Companies Leading the Charge in the Transformative AI Era

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USA News Group Commentary
Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 28, 2024 /PRNewswire/ — USA News Group – The world is changing rapidly thanks to artificial intelligence (AI), with what’s being called the Transformative AI era which comes with great benefits and also potential dangers. The economic impacts are global, with a new report from The Bank for International Settlements (BIS) urging central banks to adapt rapidly to AI advances. Now it’s become apparent how important it is for companies to understand how to harness the full potential of GenAI to secure strategic revenue growth in the coming years. The surge of AI’s usefulness is accelerating innovation in R&D, while behind the scenes tech companies are advancing the infrastructure required to keep this revolution going, including new developments from Avant Technologies Inc. (OTCQB: AVAI), Accenture plc (NYSE: ACN), Cloudflare, Inc. (NYSE: NET), Alphabet Inc. (NASDAQ: GOOG, GOOGL), and Amazon.com, Inc. (NASDAQ: AMZN).

Known for pioneering advancements in AI, Avant Technologies Inc. (OTCQB: AVAI) has persistently refined and expanded its premier offering, Avant AI™. This sophisticated AI platform, celebrated for its machine learning and deep learning capabilities, is the culmination of Avant’s efforts to deliver unprecedented and cost-effective compute infrastructure that unlocks the full potential of AI and ushers in a new era of technological advancement. 
“There is a real unmet need as rapid growth across the entirety of the AI and big data industries is outpacing the necessary infrastructure for an industry that demands exponential power and capacity while remaining cost effective,” said Avant’s CEO William Hisey in a recent address of progress on AI supercomputer-driven data centers. “Avant’s ‘edge-native’ approach doesn’t rely on cloud-based services so we can offer AI and big data companies many advantages over the more familiar ‘cloud-native’ approach, including, reduced latency, improved security and privacy, increased scalability, and reduced costs.”
In a recent strategic development, Avant entered into a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a prominent Florida-based firm specializing in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW, in a transaction valued at $50 million.
“By integrating proprietary machine learning algorithms with open-source innovations into these servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation,” said Hisey.  “This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Flow Wave Immersible AI Supercomputer Servers are engineered for demanding AI and machine learning applications, delivering powerful processing capabilities that accelerate data analysis. Their cutting-edge cooling system is both energy-efficient and cost-effective, reducing environmental impact. These servers’ compact design facilitates easy installation in space-constrained data centers, and their robust construction ensures longevity and lower maintenance requirements.
In response to digital era challenges, Avant intends to acquire up to 50 of these high-performance servers. Their superior cooling technology boosts performance while conserving energy, aligning with Avant’s goal of providing top-tier AI infrastructure and maximizing efficiency. Additional details about the acquisition will be shared once the final agreement is secured.
In Q3 2024, Accenture plc (NYSE: ACN) brought in over $900 million in new Generative AI bookings, for a total of $2 billion fiscal year-to-date. Despite missing its overall earnings targets, the market responded by sending its shares upward.
“We achieved strong new bookings of over $21 billion, up 22% over last year, and continued to accelerate our strategy to be the reinvention partner of choice, with another 23 clients with quarterly bookings of over $100 million, bringing the total of such bookings to 92 year-to-date,” said Julie Sweet, Chair and CEO of Accenture. “We also achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology.”
Back in May, Accenture took steps to help its clients to scale their Generative AI responsibly.
“Clients are eager to embrace the potential of generative AI, and we are ready to help them build responsible AI into every use,” said Sweet. “We do this for ourselves, and we can use that example to help our clients find success faster. Our focus is to enable our clients to innovate AI safely and be ready to seize the opportunities that AI will bring in the decades ahead.”
Recently, the cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) unveiled the general availability of its AI Gateway platform. Marketed as a comprehensive interface for managing and scaling generative AI workloads, the platform has transitioned from its beta phase, which started in September 2023, to full client use after successfully handling over 500 million requests.
This launch coincides with Cloudflare’s announcement of a partnership with Hugging Face, a leading platform for AI developers. The collaboration offers a one-click global deployment for AI applications via the Workers AI platform, now also generally available. As the first serverless inference partner integrated on the Hugging Face Hub, this allows developers to deploy AI models quickly, easily, and cost-effectively on a global scale, without the need for managing infrastructure or paying for unused compute capacity.
“Workers AI is one of the most affordable and accessible solutions to run inference,” said Matthew Prince, CEO and co-founder, Cloudflare. “With Hugging Face and Cloudflare both deeply aligned in our efforts to democratize AI in a simple, affordable way, we’re giving developers the freedom and agility to choose a model and scale their AI apps from zero to global in an instant.”
In the education space, Alphabet Inc. (NASDAQ: GOOG, GOOGL) through Google, is bringing new AI tools to Google Workspace for teen students using their school accounts to help them learn responsibly and confidently in an AI-first future, and empowering educators with new tools to help create great learning experiences.
“In the coming months, we’re making Gemini available to teen students that meet our minimum age requirements while using their Google Workspace for Education accounts in English in over 100 countries around the world, free of charge for all education institutions,” said Google in a blog post. “To ensure schools are always in control, Gemini will be off by default for teens until admins choose to turn it on as an Additional Service in the Admin console.”
Google has also developed a number of resources and trainings to help students, parents and educators use generative AI tools responsibly and effectively, including a video on how teens can responsibly use AI while learning.
After recently hitting a $2-trillion valuation, Amazon.com, Inc. (NASDAQ: AMZN) continues to be a big player in the AI space. Now it’s reportedly working on its own AI chatbot that some say might be smarter than ChatGPT, named Metis, which will generate answers by grabbing info from the internet.
Metis is driven by an internal Amazon AI model known as Olympus, drawing inspiration from Greek mythology. According to sources, Olympus is a more advanced version of Amazon’s publicly available Titan model.
Amazon’s CEO Andy Jassy has noted that nearly every division within the company is engaged in some form of AI project. As a pioneer in cloud computing, Amazon has been developing machine learning, a subset of AI, for many years. Jassy recently announced that Amazon’s AI initiatives are projected to generate over $1 billion in annual revenue, with expectations of driving “tens of billions of dollars” in sales in the coming years.
However, Amazon has lagged in the realm of consumer AI assistants. An internal document from last year highlighted that Amazon “does not have a publicly or internally available product that looks and works exactly like ChatGPT.”
According to a source reported by Business Insider, the tentative launch date for Metis is September, right around the time when Amazon is set to host a big Alexa event, although the timeline could still change.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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Learning Pool Recognized with Two Industry Awards for Innovation and Product Excellence

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Enterprise platform recognized by eLearning Industry and the Stevie American Business Awards for AI-powered skills development, automation, and analytics capabilities.
NEW YORK and DERRY, Northern Ireland, June 28, 2024 /PRNewswire/ — Learning Pool, the leading learning technology company, today announced its recognition as a ‘Top AI Tool for Training and Education’ by eLearning Industry. Learning Pool was recognized for its personalized learning experiences at scale. The company was also awarded a Silver Stevie® in the ‘Achievement in Product Innovation’ category by the Stevie American Business Awards for its AI Conversations tool that allows learners to practice workplace conversations with an AI-powered character. With real-time insights into each learner’s identity, existing knowledge, and learning requirements, businesses can take a more wholistic approach to workplace training with Learning Pool’s platform.

According to the World Economic Forum (WEF), over half of the global workforce will need to upskill or reskill by 2025 to meet the demands of new responsibilities brought about by automation and emerging technologies. Workplace learning is a critical business function that develops and sharpens employee skills, enabling them to reach productivity more quickly, maximize performance in their current roles, and prepare for future skill requirements. Dynamic learning platforms can help organizations achieve their goals more rapidly, adapting as business priorities shift to meet ever-changing market demands.
Be it for compliance, onboarding, upskilling, or the entire business, Learning Pool’s enterprise portfolio delivers smarter learning experiences. Backed by intelligent data, Learning Pool’s platform automatically draws insights on individual performance and optimizes learning accordingly. eLearning Industry recognized Learning Pool for its:  
AI-Powered Skills Development: The AI-powered Skills Builder adopts a skills-first training approach, effectively bridging the gap between employees’ current capabilities and their target achievements. The platform offers a comprehensive view of how skill levels align with organizational objectives, enabling personalized and targeted learning programs at scale.Powerful Automation: Advanced automation capabilities enhance learner engagement by delivering timely and relevant communications based on predefined organizational conditions. This includes sharing tailored recommendations for the practical application of skills and sending reminders to learners to revisit training materials.Advanced Analytics: Real-time, actionable insights are provided through advanced analytics, optimizing learning content. By analyzing real-world learner interactions and identifying trends, patterns, and anomalies in training data, the platform expedites resolutions and improves learning outcomes.Learning Pool was recognized by The American Business Awards for its product innovation for AI Conversations:
AI Conversations: The GenAI offering allows employees to practice challenging workplace conversations with an AI-generated character. The tool leverages OpenAI’s GPT4 to provide users with convincing, conversational responses, with detailed, personalized feedback helping them improve communication and management skills. The ability to speak the responses heightens the feeling of engaging in a real difficult conversation meaning when the summative feedback is presented, learners can focus on areas of improvement.”It’s more critical than ever that organizations have the tools and resources to swiftly close the skills gap and enhance workforce readiness,” said Ben Betts, CEO, Learning Pool. “These recognitions underscore our commitment to delivering a cutting-edge platform that not only addresses immediate learning needs but also strategically prepares employees for future demands, ensuring organizations can execute their business strategies with precision and efficiency.”
To learn more about Learning Pool’s platform, click here.
About Learning Pool
Learning Pool is a learning technology company that optimizes employee performance with intelligent, data-driven experiences. Through its enterprise portfolio, Learning Pool has crafted learning journeys for thousands of organizations and their business units worldwide, enabling smarter compliance, onboarding, and upskilling. The company’s dedication to creating business impact and constantly innovating is the reason customers like Valvoline, Villeroy & Boch, and Royal Caribbean Group, choose Learning Pool to enhance the efficiency and productivity of their workforce. Founded in 2006 and headquartered in Derry, with offices in North America, Learning Pool employs 450 people worldwide. For more information, visit Learning Pool, X, and LinkedIn.

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