ServiceNow has entered into an agreement to acquire Cuein, a provider of AI-driven conversational data analysis. Cuein, which received backing from Lightspeed Venture Partners, Khosla Ventures, and the Webb Investment Network, was co-founded in 2021 by Mayukh Bhaowal and Vignesh Ganapathy. ServiceNow anticipates completing this acquisition in the first quarter of 2025, as disclosed in a recent statement. By incorporating the technology from this Belmont, California-based firm, ServiceNow aims to enhance its agentic AI strategy.
Highlights
ServiceNow’s Vision for AI Integration
Dorit Zilbershot, the group vice president of AI Experiences and Innovation at ServiceNow, articulated the company’s motive by saying that ServiceNow is leading the agentic AI revolution and is redefining the capabilities of human-centred AI across enterprises. She highlighted that the acquisition of Cuein is vital for their objective of developing more integrated and intelligent systems that interlink AI agents, data, and workflows.
The Significance of Real-Time Insights
Zilbershot emphasised that for AI agents to be truly effective, they must have access to reliable, real-time insights. Cuein’s proficiency in swiftly processing and converting data into actionable intelligence will empower clients to:
– Unlock the complete potential of agentic AI
– Streamline operations
– Facilitate quicker, smarter decision-making
Current Challenges in Customer Interactions
Presently, customer engagements occur across various channels—including chatbots, emails, telephone calls, and face-to-face interactions. This often results in fragmented conversations and protracted issue resolution. Enterprises face challenges in analysing these interactions, leading to:
– Inefficiencies
– Gaps in organisational knowledge
Generative AI and autonomous AI agents are imperative in managing large volumes of both structured and unstructured data. They assist in identifying customer needs and recommending appropriate resolutions.
Future of AI in Customer Service
Gartner forecasts that by 2028, 30% of Fortune 500 companies will provide services exclusively through a single AI-enabled channel, capable of communication through text, images, and sound.
Mayukh Bhaowal, the co-founder and CEO of Cuein, conveyed that their mission is to assist companies in enhancing service experiences by analysing conversational data to reveal deeper insights within business processes. By leveraging ServiceNow’s cutting-edge AI and workflow capabilities, they aim to build upon this foundation, empowering AI agents to automatically access and act on the correct information at critical moments to drive substantial success and productivity improvements for customers.