By training on free form dialogue for flexible context, Clinc's AI can understand passages and phrasing it has not heard before
SANTA CLARA, California, July 25, 2019 /PRNewswire/ -- Based on its recent analysis of the North American Artificial Intelligence (AI) for FinTech market, Frost & Sullivan recognizes Clinc Inc with the 2019 North America Technology Leadership Award for building its conversational AI platform with multistate-awareness and dynamic processing. Clinc's AI maintains contextual awareness and builds responses dynamically as the platform is trained on real examples and does not require keywords or a scripted dialogue flow to deliver a highly accurate and natural performance. With broad use cases from consumer-facing support to internal clients and back-office processes, Clinc's platform is highly scalable and easily customized with built-in global languages.
"Rather than keyword matching, tagging parts of speech, and other traditional rules-based natural language understanding approaches that require scripted dialogue flows, Clinc designed its software by employing a completely data-driven approach. In particular, it can train neural networks based solely on examples of the way humans would interact with the technology," said Clare Walker, Industry Principal at Frost & Sullivan. "Further, Clinc decouples dialogue management and response logic, allowing for variable responses based on context."
With its exceptional performance and frictionless user experience, Clinc's AI lends itself to a variety of use cases and deploys on any channel. As retail banking was its first use case, the software addresses the consumer need to discuss account and financial information in real time. Beyond account queries, Clinc's AI can set up payments and aid in anti-fraud investigations by collecting information and routing to an appropriate channel or handing the customer interaction over to a live agent when required by escalation protocols or when a sentiment analysis designates an issue. From helping with internal processes of HR and call routing and executing transactions for brokers to surfacing insights and research for wealth managers, Clinc's AI presents high value as a virtual assistant.
The platform empowers users to build capabilities and contextual awareness quickly and easily, without in-depth programming knowledge. Additionally, it has flexible deployment and integration options for fully hosted, hybrid, and on-premise instances. The system uses webhooks and RESTful JSON application program interfaces (APIs) to integrate with client databases and enterprise systems directly and securely.
"Clinc organizes its platform and teams around agile development, informed by partner-developers in a feedback loop for optimization. It prioritizes training clients in a dedicated program to help them perform their own building. Eventually, they will not need to go outside the platform to create, integrate, or deploy virtual assistants," noted Walker. Clinc developed an end-to-end platform that is truly scalable and highly valuable."
Each year, Frost & Sullivan presents the Technology Leadership Award to the company that demonstrates uniqueness in developing and leveraging new technologies that deliver significant customer value.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Clinc is the leading global provider of conversational artificial intelligence technologies for companies like Barclays, USAA, OCBC Bank, İşbank and others. Headquartered in Ann Arbor, Michigan, the company was founded in 2015 by world-class AI and systems research professors at the University of Michigan. Utilizing the world's most sophisticated natural language processing engine and the most advanced scientific discoveries in AI research, Clinc's AI emulates human intelligence and is able to understand unstructured, unconstrained speech, and can interpret not only semantics and intent, but the underlying meaning of user queries. Learn more at clinc.com.
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SOURCE Frost & Sullivan