Latest news with #conversationalAI
Tahawul Tech
4 hours ago
- Business
- Tahawul Tech
'We are creating the best salespeople on the planet through conversational AI.' – Daniel Wagner, CEO of Rezolve AI
CNME Editor Mark Forker sat down with British tech entrepreneur Daniel Wagner, to find out how his company Rezolve AI is harnessing the power of conversational AI to completely transform and revolutionise customer experiences in digital commerce. It has been said that the UAE doesn't just imagine the future, it builds it. The same accusation could be levelled at Daniel Wagner, Chairman and CEO of Rezolve AI. Wagner is a serial tech entrepreneur, who has a proven track record of building hugely successful technology companies since beginning his career back in the 1980's. He first came to prominence when he created MAID in 1984, which was one of the world's first online information services, and he eventually took the company public in 1994, whilst it was also listed on the NASDAQ in 1995. In 2001, he launched another hugely successful venture with the creation of Venda, which was a cloud-based enterprise-class commerce platform that he eventually sold to US IT behemoth Oracle. In 2003, he co-founded Attraqt, which was an e-commerce software company that he again took public on AIM in 2014, and sold to a private equity firm in 2019. Wagner was one of the first to recognise the benefits of packaging electronic information and data back in 1984, and 32 years later he could see the potential of conversational AI in providing a human touch to the digital commerce space. Wagner began the conversation highlighting the factors that led to the company's inception. 'When I started Rezolve, I was obviously bringing decades of experience, knowledge and an intrinsic understanding of how commerce and search all worked. It didn't come out of nowhere, the company was born out of my deep understanding of natural language processing, and my objective was very clear, and that was we wanted to create the best salesperson on the planet by leveraging the power of conversational AI. Instead of trying to create a wide, generic solution like ChatGPT we created a platform that was specifically tailored to enable online retailers to create the best salespeople in the world,' said Wagner. Wagner pointed to the main crux of the problem for online retailers and outlined how they are trying to resolve the problem pardon the pun. 'Look, when you go online to buy items, 70% of people drop out of the process. That is a huge number. However, when you go into a physical store then 70% of people buy something, so there is something fundamentally wrong in the online shopping experience. It is completely reversed and the difference between one or the other is 70%. The reason for that is very obvious. For example, if I ask my wife to go and buy me a mobile phone, she couldn't do it online because she doesn't know what an OLED screen is, she doesn't know what a MB is, she doesn't know the difference between iOS and Android. She doesn't know any of these things, but in an online environment then that's how these products would be presented to her. But if she went into a mobile phone shop and said, 'I need to buy a phone for my husband,' one or two questions would be asked of her, and then the salesperson would be able to sell her a phone,' said Wagner. Wagner stressed that the business model of Rezolve AI is engineered towards empowering online retailers to create what he described as the 'perfect salesman' through the use of natural language processing. 'We've developed our own language model, and it's essentially like a salesperson ready to learn about the retailer's products. That salesperson has sales techniques—it's trained on how to sell and close sales, how to discuss products and engage with customers in a way the very best human salesperson would in a physical store. We know it's going to be a market leader, and Google and Microsoft have also recognised that what we have is totally unique in this space, and that's why they have partnered with us. We haven't just jumped on the AI bandwagon either, we have been working on this since 2016 and have invested $130m during that period,' said Wagner. Wagner also added that Rezolve AI has a language model with products layered on top that allows them to go to any retailer in the world. 'We support 96 languages, so we can work with retailers in Arabic, Korean, Chinese, French, Spanish etc, and they can engage with us in their own language, and that is an extremely powerful capability to have when you are trying to humanise that online digital experience. We are levelling up commerce and that's the way I see it,' said Wagner. One of the many key differentiators of what Rezolve AI does is in relation to its ability to tackle hallucinations. 'There are plenty of companies out there in the marketplace saying they're providing AI solutions that allow some sort of conversational engagement with retail. However, crucially most of it is around customer service. When you're dealing with a product catalogue, there are real problems with Gen AI. If I'm a cosmetics retailer with 200 products, and say there is 100 fragrances for men and 100 for women, then these products could have names like 'Sauvage' and 'Beast.' The issue is the descriptions may say things like its smells like 'blackberries with sandalwood notes', but Gen AI doesn't understand that. There's no context. So, it hallucinates and gives wrong or nonsensical answers. At the end of the day, the propensity for hallucinations goes way up. Normally, Gen AI hallucination rates are about 3–4%. But with product catalogues, it's about 17%. We have spent nine years solving this hallucination problem in product catalogues, and that's what makes us really unique,' said Wagner. Wagner reiterated the importance and significance of their partnership with Google and Microsoft in terms of the market credibility it gives Rezolve. 'We have three patents on how we do what we do, and ultimately that's why tech giants such as Microsoft and Google are partnering with us. Microsoft is a massive leader in AI, and Google is the number one search company in the world—they're not going to partner with us unless we have something special, and we do. They're selling us into their customer base. We've got videos and references from both saying this, and crucially, we're the only ones who've been focused on solving this specific problem for the last nine years and that gives us a huge advantage,' said Wagner. The success of Rezolve AI since beginning to roll out their platform at the start of the year has been nothing short of staggering. 'The company went public in August 2024, but in April 2025, we got publicly listed on the NASDAQ after processing $50bn in sales through our technology in just the first 3 months of us going live with our platform. We started in January, before that we had almost no revenue. As the old saying goes, the numbers don't lie, and they certainly don't in our case. The success we have had is unprecedented really, and only serves to further reinforce how unique we are, and how we are going to be the global market leader in this space. From a standing start, over 41 million consumers now have our technology on their phones, in their apps. And we've improved conversion rates by 25% on the sites where we've been deployed, and that is astronomical,' said Wagner. Wagner said they are excited about the opportunities emerging all across the Middle East. He said the company is laying solid foundations in the Gulf, and hopes to be in a position very soon to announce a very significant customer in the region. When asked was he preparing the company to ultimately be acquired by a large tech company, Wagner insisted that they were only at the beginning of the journey. 'Look in all reality, I don't need to do this, I've had a hugely successful career. However, the fact remains that I am driven by a desire to build products that can totally transform and revolutionise industries. In relation to the question of us being acquired, it's a fair question. In the 1980s, I created the world's first digital information businesses, and then in the late 1990s and early 00s, I built one of the first cloud-based commerce platforms – and both of those were acquired by Oracle. Now, I'm building the future of retail interaction, but I see this as my career's pinnacle, and I'm totally energised by it all, and trust me, this is just the beginning of the journey,' said Wagner.
TechCrunch
a day ago
- Automotive
- TechCrunch
Learn how Toyota and NLX successfully partnered at TC Sessions: AI
We're down to the final two days before TechCrunch Sessions: AI unites the broader AI community at UC Berkeley's Zellerbach Hall on Thursday, June 5! Expect a packed agenda with top speakers, expert panels, top-tier networking, and Side Events from our partners. One of our speakers is Andrei Papancea, CEO and co-founder of NLX, who will share insights from the company's successful partnership with Toyota — focused on building AI-powered conversational experiences for car repair. With the event just days away, now's your last chance to lock in serious savings. Here's how: Save $300 when you register solo. Bring a guest and get 50% off their ticket with our 2-for-1 deal. Want an even better deal? Play our AI trivia challenge for a chance to score two tickets for just $200 total. So, without further ado, meet Papancea and get to know his insightful session on the main stage. Get to know Andrei Papancea Papancea is currently the CEO of NLX, a company that has raised more than $25 million in funding to fuel its mission of providing automated customer service experiences to companies ranging from United Airlines to Red Bull. Its efforts are built on Papancea's prior experiences building American Express's Conversational AI platform, which has become a primary point of contact for customer experiences with the company. Papancea and Toyota join the main stage For his session, Papancea will dive into NLX's partnership with Toyota, which centers on AI-powered conversational experiences tailored specifically for car repair. The initiative gives technicians instant access to a vast knowledge base — drawn from millions of pages of repair guides, manuals, diagrams, and other highly specific resources — to help them diagnose and complete repairs more efficiently. In doing so, Toyota has already been able to improve a core KPI: the productivity of its technicians. And that's exactly the kind of topic we're looking to dive into at TC Sessions: AI, one that demonstrates the real-world impact of AI implementation and partnerships. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Join our full lineup of insightful AI sessions featuring leaders from Google Cloud, Amazon, TwelveLabs, OpenAI, Anthropic, and many more. Check out the full speaker list and agenda. Your last chance to join TechCrunch Sessions: AI with real ticket savings TechCrunch Sessions: AI is just days away — don't miss your chance to explore practical AI solutions, real-world applications, and top-tier networking with fellow experts and innovators. Take advantage of last-minute deals: Save up to $300 on single tickets, bring a guest with our 2-for-1 offer, or win a special promo code through our AI Trivia Challenge to get two tickets for just $200. All low rates and special offers disappear when the doors open on June 5 — secure your pass today and join us at UC Berkeley's Zellerbach Hall!
Geeky Gadgets
2 days ago
- Business
- Geeky Gadgets
ElevenLabs Introduces New Multimodal Conversational AI
What if your next interaction with a virtual assistant felt as natural as chatting with a friend? Imagine asking a question aloud, seamlessly switching to typing a sensitive detail like your email address, and receiving an instant, lifelike response in your preferred language. This isn't science fiction—it's the promise of multimodal conversational AI, a new advancement that's transforming how we communicate with technology. By combining text and voice inputs with unparalleled precision, this innovation bridges the gap between human and machine, offering a fluid, intuitive experience that adapts to your needs in real time. It's not just about convenience; it's about redefining what's possible in human-AI interaction. ElevenLabs introduce how its innovative system is setting a new standard in conversational AI. You'll discover the power of speech-to-text and text-to-speech technologies, the innovative potential of multilingual capabilities, and the security measures that make handling sensitive information more reliable than ever. Whether you're curious about its real-world applications, such as AI-powered customer service, or intrigued by its seamless integration into business platforms, this journey will reveal how multimodal AI is reshaping communication. As we delve deeper, consider this: could this technology be the key to bridging global divides and enhancing human connection in an increasingly digital world? Multimodal Conversational AI Overview The Importance of Multimodal Functionality The defining feature of this conversational AI is its multimodal functionality, which allows users to switch effortlessly between text and voice inputs. This capability enhances user convenience and ensures a more personalized interaction. For example: You can start a conversation by speaking and then type sensitive information, such as an email address or credit card number, to ensure accuracy and privacy. This dual-input approach minimizes transcription errors, making it particularly effective for handling critical data. By combining flexibility and precision, the system delivers a more reliable and user-friendly communication experience. This adaptability is especially valuable in scenarios where accuracy and efficiency are paramount. Advanced Speech-to-Text and Text-to-Speech Technologies At the core of this system are its speech-to-text (STT) and text-to-speech (TTS) technologies, which work in tandem to create a natural and fluid conversational experience: Speech-to-Text: This component accurately transcribes spoken words into written text, allowing the AI to process voice commands with precision. This component accurately transcribes spoken words into written text, allowing the AI to process voice commands with precision. Text-to-Speech: It converts written responses into lifelike audio, making sure a more human-like interaction for users. These technologies ensure clarity and responsiveness, whether users are engaging in real-time conversations or relying on automated responses. By bridging the gap between text and voice communication, the system provides a more intuitive and engaging experience. ElevenLabs Multimodal Conversational AI Watch this video on YouTube. Browse through more resources below from our in-depth content covering more areas on multimodal conversational AI. Breaking Language Barriers with Multilingual Capabilities One of the standout features of this conversational AI is its multilingual support, which includes over 32 languages. This capability enables businesses to connect with a global audience and overcome language barriers effectively. Key benefits include: Accurate comprehension and responses in widely spoken languages such as English, Spanish, and Mandarin, among others. Improved customer engagement for global enterprises operating across diverse regions. By facilitating seamless communication in multiple languages, the system enables businesses to expand their reach, enhance customer satisfaction, and build stronger relationships with international clients. Seamless Integration for Business Applications Designed with businesses in mind, this AI system integrates effortlessly into existing infrastructures. Its compatibility with widely used communication platforms, such as Twilio and SIP trunking, ensures straightforward deployment across various industries. Common applications include: Customer service Sales and lead generation Technical support This flexibility allows businesses to tailor the AI to their specific operational needs, streamlining communication processes and improving overall efficiency. By reducing the workload on human agents, the system also helps optimize resource allocation. Customizable Setup for Diverse Requirements The system's configurable setup ensures adaptability to a wide range of technical requirements. Businesses can choose from several integration options, including: Widgets for quick implementation SDKs for custom application development WebSocket for real-time communication Comprehensive documentation simplifies the setup process, even for complex configurations. This level of customization ensures the AI aligns with unique workflows, maximizing its effectiveness in real-world applications. Whether for small businesses or large enterprises, the system's versatility makes it a valuable asset. Prioritizing Accuracy and Security Accuracy and security are critical components of this conversational AI. By allowing users to type sensitive information, such as personal details or order numbers, the system minimizes transcription errors and ensures data integrity. This feature is particularly beneficial in scenarios requiring precision, such as: Processing refunds and returns Verifying customer identities By addressing these challenges, the system provides secure and reliable interactions for both users and businesses. This focus on accuracy and security enhances trust and reduces the risk of errors in critical processes. Real-World Applications: AI-Powered Refund Agent A practical example of this technology is its use as an AI-powered refund agent. Consider a scenario where a customer requests a refund: The AI processes the order number and verifies the email address provided by the customer. If necessary, it seamlessly switches languages to accommodate the customer's preference. The system resolves the issue quickly, reducing the workload on human agents and making sure customer satisfaction. By using its multimodal and multilingual capabilities, the AI delivers faster resolutions while maintaining professionalism and accuracy. This application highlights the system's potential to enhance operational efficiency and improve customer experiences. Setting a New Benchmark in Conversational AI The multimodal conversational AI system from ElevenLabs represents a significant advancement in artificial intelligence. By combining text and voice input processing, advanced language models, and seamless business integration, it offers a versatile solution for enhancing communication. Key advantages include: Handling sensitive information with precision and reducing errors. Supporting multiple languages to connect with a global audience. Integrating effortlessly with existing platforms for streamlined operations. Whether you aim to improve customer service, optimize business processes, or provide a more natural conversational experience, this technology establishes a new standard for AI-driven communication. Its adaptability and reliability make it a powerful tool for businesses looking to stay ahead in an increasingly connected world. Media Credit: ElevenLabs Filed Under: AI, Top News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
TechCrunch
6 days ago
- Automotive
- TechCrunch
From Insights to Action: Advancing Agentic AI
The frontier of AI is rapidly advancing, but among the public and even in the enterprise, an understanding of its capabilities hasn't always kept pace. The widely held view of AI often gets stuck on the image of a sophisticated chatbot, capable of engaging in a conversation with a user and providing a response to prompts. But this way of thinking is also a limitation, boxing the technology into something as simple as trading messages and images. It misses both the nuance and full potential of state-of-the-art, real-world applications. As businesses, societies, and technical practitioners alike seek to unlock the value of AI, tapping an expanded set of capabilities has become a top priority. Capital One has delivered a recent breakthrough by building a new multi-agentic conversational AI assistant for car buyers. Capital One has a long history of using data, technology, and analytics to deliver superior financial services products and services for millions of customers. For over a decade, the business has been on a technology transformation journey to rebuild its tech stack, scale its technology workforce, and extend machine learning across the business. This dedication to innovation has positioned the company at the forefront of enterprises creating industry-leading AI advances today. 'We are continually exploring ways to enhance the customer experience at the frontier of AI. As we dug into new ways to improve the shopping experience with AI, we were looking at how to provide natural and satisfying interactions based on the way humans interact and reason,' says Dr. Milind Naphade, SVP of Technology, AI Foundations at Capital One. 'We wanted to transform the customer experience by replacing the previous generation of conversational AI technology with an agentic approach that leverages large language models (LLMs). We knew we needed to build a solution that would be able to really interact with a customer, understand their needs, and take actions on their behalf while they searched for a new vehicle.' The result: Chat Concierge from Capital One. The proprietary multi-agentic conversational AI assistant is custom-built to enhance the experience for car buyers and dealers alike. But answering questions and organizing information is only one part of what Chat Concierge can do. Model advances have enabled the dawn of AI agents that are trained to work together and tackle a series of complex tasks. Each AI agent performs a specific duty based on the user's request. Breaking a given workflow into discrete tasks and assigning each task to an AI agent can help ease the cognitive load of the user and create a more streamlined, satisfying experience. It's almost like building a dream team where each member is assigned to a role fitting their strengths. With Chat Concierge, multiple AI agents work together to not only provide information to the customer, but to take specific actions based on the customer's preferences and needs. For example, one agent communicates with the customer. Another creates an action plan based on business rules and the tools it is allowed to use. A third agent evaluates the accuracy of the first two, and a fourth agent that explains and validates the action plan with the user. In a single conversation, Chat Concierge can present information like vehicle comparisons and specifications, then take the next step by scheduling appointments and test drives with a sales team. 'There is a complex workflow that is getting executed behind the scenes, but it's all happening behind the scenes,' Naphade explains. These advances come as a logical progression from generative AI to AI agents that understand their environment, make decisions, and take actions. This requires an underlying infrastructure where the data and application programming interfaces (APIs) are AI-ready. 'We are standing on the shoulders of all the giant systems Capital One has built so far,' Naphade says. 'For example, we are one of the only banks that has fully committed to a public cloud. The data-driven, machine learning heritage of Capital One precedes us.' The possibilities for agentic AI–and future advances in the field–continue to evolve at a rapid clip. State of the art reasoning models are now designed to handle complex tasks by thinking through multiple steps and reasoning logically. Using these models to create AI agents brings the potential to help people turn insights into action for a range of sophisticated tasks that were never possible before. For instance, they have the potential to help solve real-world challenges like working together to tackle complex, PhD-level research problems; work with a company's developers to autonomously support the entire software development lifecycle, from planning to deployment; or even help a new business create a business plan and financial models along with a logo, website, and marketing plans. While the pace of AI innovation excels, so does the need for thoughtful approaches that balance speed with risk management. Capital One has tested, learned, and adapted its multi-agentic conversational AI workflow to create a great customer experience, in real-time, while also mitigating hallucination and errors through strong guardrails. In continuing to advance the state of the art in AI, Capital One isn't just inventing new tools and technology. It's delivering the right help at the right time—with intelligent, dynamically adaptive approaches—for more than 100 million customers. Learn more about AI at Capital One here.
Finextra
6 days ago
- Business
- Finextra
Zelig advises Webio on its sale to Aryza
Zelig is delighted to announce that it has acted as sole financial advisor to Webio on its sale to Arzya. Webio, headquartered in Dublin, is a leading provider of cloud-native conversational AI customer engagement solutions for the financial services industry. 0 Webio's tools enable organisations to enhance efficiency, improve customer experiences, and drive meaningful outcomes, particularly in the area of debt collections. Webio is backed by leading venture capital investors including Finch Capital and Enterprise Ireland. Aryza, headquartered in Dublin, is a global provider of SaaS solutions for credit and debt lifecycle management. The company's automated solutions streamline complex processes at every stage of the credit life cycle, from lending to debt, insolvency, and arrears management. Aryza is backed by Pollen Street Capital and Macquarie Capital Principal Finance. The acquisition will enable Aryza to offer Webio's conversational AI capabilities to its extensive customer base, particularly in the collections and recovery sector, enhancing the effectiveness of their customer engagement processes. Aryza will also embed Webio's technology into its broader product suite further enhancing this compelling cross-selling opportunity. 'Joining the Aryza Group marks an exciting new chapter for Webio, and we look forward to contributing to its ambitious vision. By combining our AI capabilities with Aryza's established product portfolio and market reach, we're in a strong position to enhance customer engagement and drive real innovation in financial services. Zelig's advice throughout this process was instrumental to its successful outcome, particularly in structuring a deal that aligned the objectives of the multiple stakeholders involved.' Cormac O'Neill Founder and CEO of Webio 'The addition of Webio to the Aryza family is a pivotal step in our journey to becoming a leader in AI-powered financial solutions. Their expertise in conversational AI, combined with their innovative, cloud-native platform, perfectly aligns with our vision for the future. Together, we'll be able to deliver exceptional value to our customers while continuing on our strategy to deliver SaaS-solutions across the full credit and debt cycle.' Colin Brown CEO of Aryza
