AI decisions throughout customer engagement cycle – from planning and execution to measurement and optimization
Flytxt today announced the launch of Robo-X, a first-of-its-kind Artificial Intelligence (AI) for Customer Engagement, which harnesses AI and Machine Learning to produce better marketing outcomes.
Robo-X is an AI designed to work alongside marketers –¬ whether that’s identifying new upsell and cross-sell opportunities, discovering insightful patterns, advising on offers and campaigns or assessing performance and indicating areas for improvement. It uses Flytxt’s proprietary AI platform and machine learning algorithms to discover important relations between consumers, products, offers, channels and competitive environment and how they impact business outcomes.
The automated and timely decision-making power of Robo-X exponentially increases the agility and scale of marketing, allowing even a less experienced marketer to become highly effective in maximizing the value of each customer interaction.
Robo-X is available as an add-on module to the company’s market-leading, flagship product NEON-dX, which is already delivering 2-7% uplift on net revenue for more than 100 clients of Flytxt around the world, including 60-plus telecoms operators. Through its proven packaged analytical models and dashboards for driving omni-channel digital engagement, NEON-dX allows enterprises to learn individual customer behavior and harness this data when creating campaigns.
Dr. Vinod Vasudevan, CEO of Flytxt, said: “Robo-X is one example of how society is witnessing the impact of the Fourth Industrial Revolution. The powerful amalgamation of technologies, such as Data Analytics, Artificial Intelligence and Machine Learning, is influencing so many aspects of our lives – both personally and professionally.
“Robo-X is an AI that can take marketing decisions on its own. As an intelligent companion for marketers, it will act as a force multiplier, increasing uplifts in revenue through campaigns run on NEON-dX.
“NEON-dX already offers a unique competitive advantage to some of the biggest companies around the world in some of the most innovative sectors, such as telecoms, financial services and travel. With the addition of Robo-X, marketers can now harness the power of artificial intelligence to create personalized customer interactions with a level of precision and scale that is beyond human capability, whether they are veterans of the industry or just beginners.”
Robo-X comes with powerful features such as:
Campaign Construction Advice: Robo-X uses AI to help marketers construct their program. The advisor function analyzes data from previous campaigns then makes suggestions to the marketer as they are building the campaign. For example, if it is an offer, Robo-X will leverage what it has learned in the past to advise on parameters such as demographics, geographies, and even the price.
Live Campaign Optimization: Robo-X continuously observes and benchmarks campaigns while they are running and prescribes corrective actions that will increase their impact. Such prescriptions help marketers to immediately respond and improve underperforming campaigns and scale up those that are doing well, increasing the overall outcome.
Automated Performance Guidance: Robo-X rates the performance of each individual campaign against the others as well as discovers reasons why some are successful, and others are not. Robo-X acts a trusted guide for the marketer, pointing out what is going well and what is not along with the reasons why, prioritizing and focusing the attention of the marketer on elements that will drive better business outcomes.
Machine Learned Personalization: Robo-X creates personalized interactions to maximize the positive response from each customer using machine learning and optimization based on dynamic customer behavior, business strategy and customer context, as well as the feedback from each interaction. For instance, it creates personalized up sell and cross sell offers that best suit the expectations of the customer and strategy of the enterprise, continuously learning to adapt and improve itself.
The launch of Robo-X coincides with Flytxt’s 10th anniversary. Today, the company is one of the leading suppliers of AI, Machine Learning and Data Analytics solutions for customer engagement to telecom enterprises. Robo-X is based on more than 20 patented technologies developed over several years of research in association with IIT, Delhi, and TNO in the Netherlands.
Flytxt’s client base consists of more than 100 businesses across a global network of 50 countries, including more than 60 communications service providers, such as Vodafone, MTN, America Movil, Viettel, Airtel, and Zain Group.
Dr Vasudevan said: “So much of our success is due to delivering measurable returns for our clients, who see the impact almost immediately after taking up NEON-dX.
“Our next generation software is already being used by the world’s leading data-intensive businesses. We expect more growth now with firms in more sectors realizing the impact that the powerful combination of Artificial Intelligence, Data Analytics and Marketing Automation can have on their revenue.”
Flytxt, backed by leading technology investors from Germany and The Netherlands, expects to grow its business by 10 times over the next 5 years, investing USD 50 million through a combination of debt and equity.
The company’s headquarters is in The Netherlands, corporate offices in the United Arab Emirates and development facilities in India.