Chatbots, Conversational AI

Interactions LLC Saves $300 Million Annually for Top Clients


Interactions, an innovating force in Conversational AI for customer service, today announced its continued success in 1Q 2024 providing omnichannel customer-experience (CX) excellence, including delivering more than $300 million in value annually to its top customers through AI-generated savings and cost avoidance. The company also announced several key technology advancements.

Interactions combines the best of AI with customized LLMs and real-time human intelligence to deliver digital CX solutions to some of the world’s leading brands in the retail, technology, hospitality, utilities, healthcare and financial sectors.

With a 20-year global track record of CX innovation, Interactions is one of the largest and most established Conversational AI companies by volume, revenue and client list.

Its Intelligent Virtual Assistant (IVA) solution combines the best of traditional Conversational AI with Generative AI (GAI). Interactions patented Human Assisted Understanding (HAU) is a process that blends Conversational AI with human understanding in real time to deliver truly conversational experiences across voice- and text-based customer-care channels. It ensures millions of customers experience craveable self-service CX automation every month. By solving customer inquiries fast and effectively, Interactions boosts brand loyalty for its clients while generating multimillion-dollar savings in operational efficiency. Many clients have partnered with Interactions for more than a decade.

Other Notable First Quarter Results

  • Interactions self-service IVA automation performed the equivalent work of nearly 4,000 traditional full-time agents.
  • Interactions facilitated nearly $1 billion self-service payments.
  • Interactions processed more than 75 million inquiries in 12 languages across nearly 30 countries. More than three-fourths were fully resolved by Interactions self-service IVA automation.

Recent Client Milestones

  • A Fortune 100 client achieved a milestone of eliminating more than 60 million agent minutes annually.
  • A Fortune 50 client achieved a 98 percent identification and authentication (ID and AUTH) success rate.
  • Interactions energy and utility clients achieved greater than 90 percent success in automating payments and thereby ensuring revenue protection.

Product Advancement

  • GAI Adoption for Social EngagementInteractions deployed into a Fortune 20 client new capabilities in its omnichannel IVA platform with Generative AI- (GAI) powered suggested responses. The platform enables the client to capture and analyze millions of monthly customer data points on public and private social channels and prioritize the most urgent issues. As a result, agents have become more efficient, and the most pressing customer issues are addressed sooner.
  • Launch of Agent Assist Tool. Interactions launched Task Orchestration, a revolutionary back-office agent-assist tool. Its initial deployment reduced a client’s average handle time (AHT) by nearly 60 percent (3 minutes) for complex use cases such as refunds and cancellations.
  • 3 New Patents. Interactions innovation continued with 3 new patents granted in recent months, bringing its patent library and patent rights for AI and Natural Language Processing (NLP) to more than 2,100 patents, making it one of the best positioned companies for innovation in the AI and NLP arenas.

Key Quotes

CEO: “Interactions unwavering commitment to customer-service excellence has earned us the trust of some of the world’s most respected brands,” said Mike Iacobucci, CEO at Interactions. “Our longstanding partnerships with Fortune 100 companies across various industries including banking, insurance, retail, high-technology and automobiles attest to our dedication to delivering exceptional results and driving meaningful impact. We are proud to stand as a trusted ally to our clients, helping them elevate their customer experiences and achieve sustainable success.”

Leading Analyst: “Interactions innovative approach to Conversational AI bridges the gap between technology and humanity, resulting in natural, empathetic conversations that drive superior customer experiences,” said Derek Top, Research Director & Senior Analyst at Opus Research.

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