Yellow.ai, a next-gen total experience (TX) automation platform, has announced it has been recognised as a Niche Player in the 2022 Gartner Magic Quadrant for Enterprise Conversational AI Platforms. With a strong focus on expanding its global footprint, the company has seen an exponential increase in its customer base, recording 4X growth over its previous year’s revenue.
The Gartner Magic Quadrant assesses providers’ completeness of vision and ability to execute. 2022 marks the inception of this new market category of Enterprise Conversational AI Platforms. The report profiles 21 of the most advanced vendors out of thousands of players in the space, highlighting that enterprises are increasingly looking towards platform-based approaches in order to address multiple enterprise use-case requirements and they find that this approach allows better leveraging of investments.
“We are humbled to have been recognised as a Niche Player in the 2022 Gartner Magic Quadrant for Enterprise Conversational AI Platforms. What makes it more exciting is that this is the first ever Gartner Magic Quadrant for the Conversational AI market–a space we feel that has seen tremendous growth and adoption, especially in the past year. We believe this recognition strongly validates the power of our platform capabilities, the momentum we have experienced in addressing the unique demands across the markets we operate, and the disruption we are bringing to the Conversational AI market. In just five years, our solutions have enabled over 1000 enterprises to find their niche for automation needs across Customer Experience and Employee Experience with us, driving higher competencies and ROI,” said Raghu Ravinutala, CEO and Cofounder, Yellow.ai.
Built atop the sturdiest in-house NLP engine, Yellow.ai offers a unique industry and function-agnostic platform with pre-built language models. Its Dynamic AI agents support 100+ languages across 35+ channels to automate such functions as customer support, customer engagement, conversational commerce, employee experience and ITSM. Yellow.ai’s Dynamic AI agents uniquely learn from all human-answered queries to rapidly decrease future AI-to-human hand-offs, achieving 60 per cent automation in the first 30 days.
On the strategy moving forward, Ravinutala added, “After experiencing rapid client and revenue expansion, our focus now is to strengthen our presence in the global market. We have already established a sales force of 20+ in the US and our leadership team has grown by 50 percent across markets in the last two quarters. Our strategic partnerships with leading players greatly extend our efforts in helping enterprises across industries to enhance customer and employee experience automation. In line with our aim to truly democratize AI and make every conversation fulfilling and delightful, we will continue to set the industry pace in introducing innovative, business impact-driven solutions that allow our customers to completely reimagine their CX and EX.”