EC gives Swedish AI firm development grant
The European Commission has awarded Swedish Marketing Tech company Wiraya with €2m, for the development of Wiraya Activation Intelligence.
Using machine learning, the software will create interactive voice and text communications, addressing European mobile operators. The contribution will “enable further development, validation and optimization” of Wiraya’s artificial intelligence software to help Europe’s mobile operators.
This aims to address rising industry challenges as European mobile telecom operators continue to tackle low customer satisfaction and loyalty. Despite advanced churn prediction models, operators often communicate with their customers as if they were still prospects, using generic communication that erodes trust and commitment.
Using machine learning, the software predicts and customises what, when and how to communicate with each individual, by matching the individual’s profile with specific communication journeys.
“We are really proud to be one of the few companies selected by the European Commission. The grant gives us a great opportunity to be able to drive the development of artificial intelligence within customer communication in Europe. We have always tried to challenge ourselves by identifying and solving important industry-specific business problems. For the telecom sector, AI functionality will solve resource-intensive and complex customer communication flows with highly effective, automated personal dialogues.” says Oskar Klingberg, CEO of Wiraya Solutions.
The development of AI functionality begins with pilot projects in 2018 and then full commercial launch in 2019. Initial tests suggest up to 5 times higher conversion rates compared with today’s way of communicating, while delivering substantial yearly savings.