Five9 has announced its new AI Knowledge solution, the latest feature in the company’s Genius AI suite.
Powered by generative AI (GenAI), the tool is designed to tackle one of the “biggest pain points” in customer experience by enabling agents to deliver speedier responses to customer inquiries.
Five9 claims that the solution is capable of providing answers that are not solely based on FAQs and knowledge bases, but instead are informed by “contextual data pulled from an organization’s vast knowledge sources.”
Available for live or virtual agents, the AI Knowledge innovation can use this data to analyze a customer inquiry in real-time and precisely find and present the most relevant answer for each interaction.
The CX platform provider believes that by improving the efficiency of response handling, companies can cut hold times, minimize customer frustration, and lower costs.
Callan Schebella, Executive Vice President, Product Management at Five9, explained how the AI Knowledge solution would enable users to maximize the potential of AI:
“AI has enormous potential to improve the customer experience. However, many organizations still struggle with how to use AI effectively given that it is complex, ever-evolving, and often, poorly implemented.
We don’t just build AI-enabled CX products, we guide customers in every step to successfully implement and evolve solutions that map to their business needs.
“With the Five9 Genius AI product suite and a flexible, customer-centric process, our goal is to enable customers to deliver rich, insightful, elevated customer experiences at every touchpoint.”
The Five9 Genius AI Process
Alongside the announcement of the latest tool in the Genius AI Suite, Five9 also revealed the company’s new strategic approach to leveraging “AI-elevated CX across the customer journey.”
The four-step Five9 Genius AI process will help companies pinpoint valuable AI opportunities, implement them, and achieve ROI faster, all while receiving support and guidance from Five9 experts.
The company explains that the four steps are targeted at businesses and users that are “unsure” about how to begin the AI implementation process.
So, let’s take a closer look at how each of the steps work:
Listen
The Five9 Intelligent CX Platform enables organizations to analyze customer engagement data from various touch points like calls, web chats, SMS, email, and WhatsApp.
By utilizing tools such as Five9 VoiceStream and TranscriptStream, Five9 helps build a solid data foundation crucial for effectively using AI to enhance customer understanding and service.
Analyze
With Five9 AI Insights and Five9 Analytics, organizations can analyze data to gain valuable insights and receive intelligent recommendations.
This process helps businesses identify opportunities to improve self-service and optimize customer and employee experiences.
Tailor
Five9’s GenAI Studio allows organizations to create custom AI models using their own contextual data from sources like the Five9 Data Lake, integrated customer data, or enterprise knowledge.
This system helps businesses tailor AI to their specific needs while ensuring data security.
Apply
Five9’s suite of native AI products enables organizations to integrate AI smoothly into their customer experience operations.
By leveraging Five9’s comprehensive range of tools – such as Voice IVAs, Digital IVAs, AI Authentication, and AI Summaries – companies can create and implement personalized experiences to enhance every customer interaction.
In discussing Five9’s announcement, Maribel Lopez, Founder and Principal Analyst at Lopez Research, emphasized the importance of using AI in an effective and responsible manner:
In a rapidly evolving CX landscape, companies need a data-driven approach coupled with a comprehensive suite of AI-enabled products to empower organizations to transform CX.
“Beyond multichannel and self-service support, organizations need to look for products that deliver AI-driven insights, methods to responsibly customize AI with a company’s specific contextual data, and the ability to apply these insights and knowledge to real world scenarios such as agent assistance and call summaries.”
More Five9 News
The latest version of Five9 for Service Cloud Voice BYOT (Bring Your Own Telephony) now includes Salesforce Einstein AI integration.
This enhancement allows Five9 customers to use Einstein AI for agent desktop experiences, quality assurance, reporting, and more.
Announced last month at CCW 2024, Five9 has achieved Summit status with Salesforce, becoming only the second CCaaS vendor to do so. This status strengthens their partnership, which includes joint strategy sessions and roadmap planning.
This is a significant achievement for Five9, given its shared customer base of over 1,200 with Salesforce, including many major enterprises crucial to its ongoing growth.
Salesforce will also benefit by promoting Einstein and aligning its sales and marketing efforts with a leading CCaaS provider.
Elsewhere, investment firm Anson Funds is reportedly urging Five9 to consider a potential sale.
According to Reuters, Anson Funds – which has acquired a stake in Five9 – is pushing the company to explore acquisition opportunities.
While there is uncertainty about Five9’s openness to a sale, the situation remains speculative.
This follows Five9’s decision last year to reject an acquisition offer from Zoom, despite breaking its policy to publicly deny pursuing such a deal. Although Five9 did not mention Zoom by name, sources confirmed it was the interested party.
Five9 and Anson Funds have both declined to comment on the matter.
