Lithuania-Based Oxus.AI Partners with International Development Norway to Bring Advanced Speech Analytics to Sales and Customer Support Teams Across the World
Oxus.AI, a startup developing a speech analytics suite for sales teams working in any language, has partnered with International Development Norway. The AI tool developed will help sales and customer support teams to analyse 100% of calls they're making, which will allow for timely feedback and improvement. The main goal of the company is to make its tool adaptable to any language, and not just well-resourced ones (like English and French).
Vilnius, Lithuania, July 20, 2022 --(PR.com)-- Lithuania-based Oxus.AI partners with International Development Norway to bring advanced speech analytics to sales and customer support teams across the world.
Oxus.AI, a startup developing a speech analytics suite for sales teams working in any language, has partnered with International Development Norway. Oxus.AI will tap into the partner’s experience with cloud platforms and innovation development to advance its solution, which is currently being piloted with a number of clients in Europe.
Some sales and customer support teams already benefit from AI tools that analyse calls and help improve such key performance indicators as close rate and customer satisfaction (CSAT). However, the problem with most of these tools is their limited ability to service beyond several well-resourced languages (like English, French, etc.). This gap leaves teams operating in other languages having to perform manual analyses, with reps receiving feedback in a sporadic and less than timely manner.
Taking into account the scale of call center operations, the total market that Oxus.AI can reach is estimated at multiple billion euros. More than 100 thousand call centers with ten million agents working in sales and customer support teams are serving Western countries, and about 40% of them are serving non-English speaking customers. That is the serviceable market of Oxus.AI.
“Larger teams record hundreds if not thousands of calls every week. Due to limited capacity, they might end up analysing 1% of these calls, missing out on crucial insights that could help boost key KPIs. We want to equip these teams with AI powered analytics that can process the entire volume of speech conversations and help make progress in a matter of days,” says Mindaugas Bružas, co-founder and CEO of Oxus.AI.
The platform Oxus.AI is developing is based on a number of Natural Language Processing techniques, including real-time speech-to-text transcription and limited dictionary search. The goal is to have a language-agnostic tool that could be scaled according not just to the language a team operates in but also the specifics of their business.
To achieve these goals, Oxus.AI has partnered with International Development Norway (IDN), a spin-out of SINTEF Foundation, the largest contract research institute in Scandinavia. Their projects have so far reached 28 countries in four continents. One of their focus areas is helping enterprises solve challenges related to digital transformation and IT infrastructure development.
“We believe that salespeople and customer support teams across Europe face the same challenges that an AI-driven solution could help solve. Thus, we see this partnership as a great opportunity to help businesses in Lithuania, Norway and beyond to stay competitive and grow,” says Anders Stolan, CEO of International Development Norway.
As a startup, Oxus.AI has raised €1.1M to date, and is backed by 70V, Startup Wise Guys, Grouport Ventures and a number of well known angel investors. To implement their project, Oxus.AI received funding amounting to €200K from the Programme "Business Development, Innovation and SMEs" under 2014-2021 Norwegian financial mechanism (Norway Grants). The solutions proposed by Oxus.AI were rated 2nd out of 35 project ideas submitted under the ICT call of the Programme "Business Development, Innovation and SMEs."
To learn more about how Oxus.AI can help teams improve performance of their customer support and sales calls, register for the webinar scheduled for July 12, 2022: https://www.linkedin.com/video/event/urn:li:ugcPost:6947186180203417601/
For more information about the Norway Grants: https://www.eeagrants.lt/en/programmes
For more information about the project: https://www.oxus.ai/blog
The EEA and Norway Grants represent Iceland, Liechtenstein and Norway’s commitment to stimulate more sustainable and inclusive growth in Europe, promote bilateral cooperation and tackle shared challenges. The funding period 2014-2021 represents the most ambitious effort to date by the EEA/EFTA States resulting in a total budget of €2.8 billion dedicated to strengthening bilateral relations and reducing social and economic inequalities in Europe.
Oxus.AI, a startup developing a speech analytics suite for sales teams working in any language, has partnered with International Development Norway. Oxus.AI will tap into the partner’s experience with cloud platforms and innovation development to advance its solution, which is currently being piloted with a number of clients in Europe.
Some sales and customer support teams already benefit from AI tools that analyse calls and help improve such key performance indicators as close rate and customer satisfaction (CSAT). However, the problem with most of these tools is their limited ability to service beyond several well-resourced languages (like English, French, etc.). This gap leaves teams operating in other languages having to perform manual analyses, with reps receiving feedback in a sporadic and less than timely manner.
Taking into account the scale of call center operations, the total market that Oxus.AI can reach is estimated at multiple billion euros. More than 100 thousand call centers with ten million agents working in sales and customer support teams are serving Western countries, and about 40% of them are serving non-English speaking customers. That is the serviceable market of Oxus.AI.
“Larger teams record hundreds if not thousands of calls every week. Due to limited capacity, they might end up analysing 1% of these calls, missing out on crucial insights that could help boost key KPIs. We want to equip these teams with AI powered analytics that can process the entire volume of speech conversations and help make progress in a matter of days,” says Mindaugas Bružas, co-founder and CEO of Oxus.AI.
The platform Oxus.AI is developing is based on a number of Natural Language Processing techniques, including real-time speech-to-text transcription and limited dictionary search. The goal is to have a language-agnostic tool that could be scaled according not just to the language a team operates in but also the specifics of their business.
To achieve these goals, Oxus.AI has partnered with International Development Norway (IDN), a spin-out of SINTEF Foundation, the largest contract research institute in Scandinavia. Their projects have so far reached 28 countries in four continents. One of their focus areas is helping enterprises solve challenges related to digital transformation and IT infrastructure development.
“We believe that salespeople and customer support teams across Europe face the same challenges that an AI-driven solution could help solve. Thus, we see this partnership as a great opportunity to help businesses in Lithuania, Norway and beyond to stay competitive and grow,” says Anders Stolan, CEO of International Development Norway.
As a startup, Oxus.AI has raised €1.1M to date, and is backed by 70V, Startup Wise Guys, Grouport Ventures and a number of well known angel investors. To implement their project, Oxus.AI received funding amounting to €200K from the Programme "Business Development, Innovation and SMEs" under 2014-2021 Norwegian financial mechanism (Norway Grants). The solutions proposed by Oxus.AI were rated 2nd out of 35 project ideas submitted under the ICT call of the Programme "Business Development, Innovation and SMEs."
To learn more about how Oxus.AI can help teams improve performance of their customer support and sales calls, register for the webinar scheduled for July 12, 2022: https://www.linkedin.com/video/event/urn:li:ugcPost:6947186180203417601/
For more information about the Norway Grants: https://www.eeagrants.lt/en/programmes
For more information about the project: https://www.oxus.ai/blog
The EEA and Norway Grants represent Iceland, Liechtenstein and Norway’s commitment to stimulate more sustainable and inclusive growth in Europe, promote bilateral cooperation and tackle shared challenges. The funding period 2014-2021 represents the most ambitious effort to date by the EEA/EFTA States resulting in a total budget of €2.8 billion dedicated to strengthening bilateral relations and reducing social and economic inequalities in Europe.
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Oxus.AI
Mindaugas Bružas
+37061683901
www.oxus.ai
Mindaugas Bružas
+37061683901
www.oxus.ai
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