Omilia, a company headquartered in Greece that has actually developed a conversational AI for customer support, has raised$ 20 million in its first ever moneying round, having actually been bootstrapped considering that 2002.

Backing comes from Grafton Capital and will be used to invest in additional development, after Omilia grew income by “more than” 100% in 2019, with most of brand-new customers based in the U.S.

Established by Dimitris Vassos (CEO and Chief Designer), Pelias Ioannidis (Partner and CFO) and John Nikolaidis (Partner and Chief Commercial Officer), Omilia provides a consumer care virtual assistant that uses machine learning to provide what it declares is a more “human-like” experience.

It works on all platforms– phone, web chat, social networks, SMS, e-mail, wise speakers and apps– and integrates with existing consumer support systems. The innovation has also been adapted for 21 languages, consisting of regional dialects and accents.

“Having seen first-hand the pain points– but also the lots of advantages– of speech technology, we established Omilia to successfully ruin the standard ‘IVR’ [interactive voice reaction innovation], which everyone liked to hate, and re-invent it as a truly customer-centric option,” Omilia co-founder Dimitris Vassos informs me. “Our mission was to adapt the technology and progress so that users don’t need to”.

When Omilia initially released, Vassos states that although speech acknowledgment tech was pitched as a way to increase call centre efficiency, many companies didn’t understand what to do with it or how to get the best from it.

“They were just putting it out into the marketplace and relying on users to adapt,” he remembers. “This led to what we see in numerous call centres today: a cumbersome, aggravating and automatic experience. ‘Press 1 or say balance’ to get your balance … and so on. This not just provides clients a bad viewpoint of brands, however it lowers trust, and doesn’t really solve the problem of call centre demand. With such systems, individuals get annoyed and press 0 or consistently state ‘consultant’ till they’re gotten in touch with a human”.

In reaction, the Omilia group intended to develop a system that people didn’t need to adjust or find out to, and one that was as near to speaking with a human as possible. The resulting product integrates a variety of innovations into a single omni-channel conversational platform called DiaManT.

“It utilizes a natural language engine, trained via machine learning, to listen and react to questions and uses voice biometrics to validate callers as they speak,” describes the Omilia CEO. “Each process has been built in such a way that the innovation is undetectable to the last user; as far as they understand, they’re getting great customer care, whether that’s from a machine or a human”.

Enterprise-friendly, DiaManT can either be installed on-premise or via the Omilia Cloud Platform, and claims to be agnostic with regards to which contact centre company or systems a business is using.

Having been trained on “tens of millions” of interactions across numerous markets, Vassos states Omilia’s technology already comprehends thousands of inquiries across health care, banking, insurance, travel and more, and can quickly be customized to consist of various or new business guidelines.

“Plus, since it learns by means of artificial intelligence, the longer it’s utilized within these services, the more questions and discussions it has the ability to handle,” he states. “For example, if an insurer is getting a boost in calls due to the coronavirus, Omilia knows enough about business rules to respond to and assist customers now while continuously progressing as the virus and its effect develop”.

In addition, Omilia’s platform features “deepVB innovation,” which uses voice biometrics to confirm callers. The deepVB engine samples the speaker’s voice, and calculates the speaker’s voiceprint in real-time. DiaManT then compares the speaker’s current voiceprint with the validated voiceprint it has saved.

“This gets rid of the need for the caller to confirm their identity at different points in the call,” includes Vassos. “The advantage of deepVB over competitive offerings is that we can do a very accurate reading with extremely little speech sample, and in the background. Users don’t need to state anything special. We can effortlessly blend this technology in our AI voice bots”.

Beyond Omilia’s complete business product, the business offers a “plug-and-play” conversational AI service dubbed “miniApps,” which can be released without any coding or training. They include independent natural language elements, configurable to different business guidelines and created to deal with single jobs. Examples include identifying when clients are supplying addresses, telephone numbers and dates of birth; credit card information; setting up appointments, verifying info and offering generic numerous choice alternatives.

Vassos explains Omilia’s typical customer as any company supplying front-facing consumer care, however states to date this has mainly been banks, insurance coverage firms, telecoms, health care, and travel business.

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.