Partnership with Kore.ai, a 2023 Gartner® Magic Quadrant™ Leader for Enterprise Conversational Al Platforms, to catapult Mphasis ahead of its peers in transforming end-user experience for its enterprise customers.
Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in applied technology and business process services, today announced its strategic partnership with Kore.ai, the world’s leading enterprise conversational AI platform and solutions company, to bolster its offerings to transform customer experience management and employee engagement for their enterprise clients.
As the Platinum Partner of Kore.ai, Mphasis will benefit from their robust platform technology as well as go-to-market, product development and engineering support while augmenting the joint capabilities of both the companies. The partnership aligns into the Mphasis philosophy of being a Cloud-Native and Cognitive-First company.
Kore.ai Conversational AI solutions, powered by generative AI technology and large language models (LLMs), have the potential to transform how customers, agents, and employees interact with enterprises, improving experiences and driving operational efficiency. This collaboration aims to revolutionize the way businesses including Banks, Retailers, Insurance, Travel and Healthcare companies interact with their customers by enabling quick deployment of intelligent virtual assistants (IVAs) that enable human-like conversations.
Through a long-term engagement, Mphasis and Kore.ai will build synergies to ensure better integration, implementation, solutions development and product engineering, and deliver top-of-the-line conversational AI solutions to their extensive enterprise customer base that will set new standards for customer, employee, and agent experiences.
The partnership will help propel Mphasis as the leader in the Experience Transformation space by leveraging Kore.ai’s technology expertise to enhance its next-gen contact and service center offerings that are cost-effective, making it a preferred player, thereby accelerating market share growth.
“Conversational AI solutions are leading the way in which enterprise clients are interacting with their end customers. We are excited to partner with Kore.ai to drive innovation and accelerate growth in this nascent yet disruptive space,” said Nitin Rakesh, Chief Executive Officer, and Managing Director of Mphasis. “Kore.ai, being an undisputed leader in this space, will bring its superior technology capabilities, enterprise-grade Experience Optimization (XO) Platform and the latest generative AI innovations that will complement our product engineering capability for solution development. Additionally, this partnership will also help accelerate cross-selling opportunities into Kore.ai’s existing client base, particularly in the contact center transformation space,” he added.
“Conversational AI is having a tremendous impact on every industry,” said Kore.ai CEO and Founder Raj Koneru. “We automate billions of interactions every year through our conversational AI platform and solutions, and have already delivered an estimated $1 billion in cost savings to global enterprise customers. We chose Mphasis as our strategic partner due to the synergy between our experience optimization offerings and their service portfolio. And together, we will accelerate innovation and drive growth, providing exceptional solutions and experiences to our customers.”
The Kore.ai XO platform enables anyone to design, build, test and deploy intuitive conversational user interfaces, virtual assistants and process apps across voice and a wide range of digital channels with little to no technical expertise or support required. It supports cloud, on-premise, and hybrid deployments for over 40 channels in more than 120 languages. The platform’s innovative features like Smart Co-pilot, AI-Assisted Dialog Node, zero-shot and few-shot models leverage generative AI technology for creation and deployment of intelligent conversational experiences.
Kore.ai also offers ready-to-use, domain-trained solutions such as SmartAssist, AgentAssist, BankAssist, HealthAssist, SearchAssist, WorkAssist, HR Assist and IT Assist, and the recently launched RetailAssist all of which are built on its XO platform. These offerings are available on a subscription model, enabling customers to quickly adopt and benefit from them.
The partnership reflects the long-term commitment of both Mphasis and Kore.ai to deliver sustainable value and drive industry transformation across AI solutions.
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