Verint Launches Genie Bot at Engage 2024

ORLANDO, Fla. -- Verint on the final day of its Engage 2024 conference launched Genie bot, an expansion of its contact center suite of business analytics solutions.

Genie Bot is embedded in Verint's Speech Analytics solution to provide data and immediate answers relative to customer complaints, churning, and escalations.

The new bot joins the Verint suite of business analytics, which includes the Verint Data Insight Bot, empowering business leaders to have a conversation with their data ;and use the bot to get immediate answers.

"As a long-standing speech analytics market leader, Verint is once again raising the bar with innovation across a suite of business analytics solutions," said Daniel Ziv, vice president of AI and analytics go-to-market strategy at Verint, in a statement. "The new Genie bot embedded in our Speech Analytics solution is a game-changer, as it dramatically shortens the time from data to impact. Generating and accessing insights in seconds rather than days or weeks can potentially save organizations millions of dollars."

While Verint's Engage conference devoted a lot of time to highlighting the benefits of artificial intelligence, executives at the company are fully aware that there is some hesitation among some to implement the technology, they acknowledged on the third and final day of the event.

Technologies sometimes require rip and replace, which is why some decision makers are hesitant to add new solutions, said David Singer, Verint senior vice president of go-to-market strategy.

That's not an issue with Verint's AI, according to Singer. "What we have is ready for organizational workflows. What we have you can add into your ecosystem today."

One reason for the hesitancy to adopt AI is an unwillingness by some executives to spend money on newer technology, but then they are already spending significant sums on Amazon, Google, etc., he said. "They can spend only 20 percent of that with us and increase their sales."

Sometimes the hesitation about adding new technology comes from line employees who are worried about their jobs being replaced. Singer pointed out that those concerns have come about with various new technologies, such as personal computers, the paperless office, and others.

However, the technologies keep advancing and the number of jobs keeps growing, Singer pointed out. In the contact center, for example, some of the AI-powered bots are designed to reduce call handling times.

"If we can take the call handling time from six minutes down to three, then you have time to provide better CX. You will still always need agents. Humans want to talk to humans at some point, so humans are going to be present, but their jobs are going to change," he said.

"When agents realize that the AI technology is there to make their jobs easier rather than to replace them they tend to embrace it pretty quickly," Singer continued.

With AI-powered bots taking over the mundane elements of agents' jobs, the nature of those jobs will change, Singer said. "They will be able to focus on talking to the customer, which is the better part of the job. There will be different roles within the organization, and the organization will have different jobs than today."

Additionally, agents will need more skills and will be compensated better in the future, according to Singer. Sales will be among those new skills, and AI bots will help with that by offering prompts at specific points in conversations with customers.

AI will also help organizations better recognize why customers aren't buying, why they are churning, and can then provide recommendations for addressing those issues.

Throughout the conference, Verint didn't focus on the granular details of the technology, but instead on the outcomes, Singer said.

The conference included several examples of companies increasing sales or reducing expenses with only a small implementation of Verint bots. An insurer, for example, uses the wrap-up (summary) bot to save time after calls, providing better efficiency and cost-savings for the company, Singer said.

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