Genesys Cloud makes big bet on Korean AI market
Genesys Cloud Services, an American software company that sells customer experience technology to businesses, said Thursday that it will continue to make ongoing investments despite several challenges in the Korean artificial intelligence market.
'We will continue to commit to the Korean market. It is a very special market for us, Genesys. We want to make four main commitments to you today,' Albert Nel, senior vice president and regional sales leader for the Asia-Pacific region, said during a press conference in Seoul.
The software firm vowed to continue investment in further enhancing and creating more capabilities on the Genesys Cloud platform in Korea. At the same time, Nel highlighted that Genesys was the first cloud contact center vendor to invest in a local node in Korea to support the market here.
While language support is critical to the success of any platform, Genesys has set Korean as a top-tier language. That means any new capability or product that the company releases would have full Korean support across all the different modules, Nel explained.
The senior vice president also said the company will continue to build out its ecosystem to provide local organizations to provide support for Genesys Cloud in Korea. The company vowed to leverage some of the best practices globally for the local market to ensure continued joint innovation.
According to Nel, one of the biggest challenges the company has faced is that aging technology and some on-premises deployments remain in highly regulated industries to hold organizations back from innovation.
However, Korea was the first country in Asia to adopt comprehensive AI legislation. The country's customer experience market outlook is also rosy. The market is expected to grow to nearly $1.8 billion by 2030, as the cloud market continues to grow more than 10 percent per year.
Tony Bates, chairperson of Genesys Cloud Services, also joined Thursday's event. He stressed that leveraging AI effectively requires the use of cloud technology.
He highlighted the promising outlook of the Korean market, noting that while there are already existing cloud customers, the potential for growth remains strong. According to Bates, the paradigm is shifting from a consumer-centered service economy to an experience-driven economy.
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