Artificial intelligence firm Wiraya has been awarded €2 million in innovation grants by the European Commission.
The London-based company will use the grants to further develop Wiraya Activation Intelligence, software which helps Europe’s mobile operators improve customer value for their subscribers.
The new functionality automatically creates interactive voice and text communications which allows individual dialogue with large customer groups and potentially revolutionises the customer experience for upgrades, renewal, changes and support issues.
Using machine learning, it predicts and customises what, when and how to communicate with each individual, by matching the individual’s profile with specific communication journeys.
This is intended to address rising industry challenges as European mobile telecom operators continue to tackle low customer satisfaction and loyalty.
“We are really proud to be one of the few companies selected by the European Commission,” said Oskar Klingberg, CEO of Wiraya Solutions.
“The grant gives us a great opportunity to be able to drive the development of artificial intelligence within customer communication in Europe. We have always tried to challenge ourselves by identifying and solving important industry-specific business problems.
“For the telecom sector, AI functionality will solve resource-intensive and complex customer communication flows with highly effective, automated personal dialogues.”
The development of AI functionality begins with pilot projects in 2018 and then full commercial launch in 2019.
Initial tests suggest up to five times higher conversion rates, according to Wiraya.
Klingberg added: “We are now developing the functionality specifically for mobile operators, but our plan is to implement the functionality across other industries, proving the same opportunity for a whole range of businesses.”