Listen to this articleOmniquo is an artificial intelligence advanced stage startup company in Silicon Valley that focuses on the ability to understand meaning from written text and using this capability to provide holistic applications in the realm of deep domain conversational systems. Omniquo’s software suite powers the functions of Sales, Marketing, Service and transactional workflow. They have 3 products that are based on their proprietary Meaning Understanding (MU) platform. To find out more about their company we interviewed ‘Sunny’ Hemant Gosain, CEO & Executive Chairman of Omniquo:
Q: What is your view on the AI industry as lot of Vcs have invested in many start-ups?
A: Yes, a lot of frenzy money is put into AI companies in the last couple of years. The word Artificial intelligence has been misused or misrepresented even beyond hollywood. There are several aspects to AI – cognitive, visual, speech, textual et al The two buzzwords that have inundated the industry are “Artificial Intelligence” and “Machine Learning”. Both are very promising concepts but here’s a provoking thought – in the last 4 years, name one A.I. company that has broken through 1B in valuation? The answer is None. Any notable exits in AI? – None. In summary VC’s and Investor’s money is stuck in the abyss of the hyped up jargons machine learning and AI. Most conceptual companies have already sold themselves to larger hospices – e.g. Mindmeld to Cisco, Lattice to Apple, Deep Minds to Google. With the exception of the last one, all were under $200M . There have been several sub $10M acquisitions that Salesforce has been gobbling under the Einstein umbrella which is still a work in progress. So why is it that picture messaging app companies go from formation to IP or buyout for tens billion valuation whereas AI investment stutter and at best prematurely exit for under $200M?. It primarily comes down to being able to provide tangible value. Some A.I vendors advertize the solutions as betting on the future without clearly stating the answers they can provide today. The barrier to entry in launching an AI solution is low – there are several off the shelf open source platforms or licensed components from established platforms like Google, Amazon and IBM that can be leveraged to build a commodity AI solution and that’s what has recently flooded the market. In summary, this domain is very fertile and fledging but we need to start outlining a clear path of the values we provide, the problems we solve and the time to value realization.
Recommended: Rettach Simplifies And Automates Email Attachment Saving And Organization Tasks
Q: Why is Omniquo different and how can it help companies?
A: Omniquo is one of the few companies that have their own artificial intelligence platform in the realm of ‘Meaning Understanding’. We don’t claim to be an all encompassing AI or Machine Learning solution. We focus on a very niche concept -” The ability to understand meaning from written content”. We do not use statistical model or dictionary based corpuses which is basically the conventional bandwagon approach that eventually leads to lack of accuracy, high cost of adoption and long time to value cycles not to mention the lack of differentiated IP. Our focus is on improving operational efficiencies of business in the realm of sales, service, marketing and transactional level automation. The differentiated value add that Omniquo brings to companies is out of the box turn key solutions that can add value from day one at affordable cost and without elaborate integration project.
Q: Could you provide our readers with a brief introduction to Omniquo?
A: The first product is OmniIQ that increases sales pipeline by engaging with prospects. It helps in reducing the repetitive tasks that a sales representative has to go through sifting through plethora of customer and prospect communication. Our conversational Virtual Sales assistant handle low touch high volume conversations with leads, customers and prospects via Email, chat and SMS conversation and progress them to live salespeople for high touch interactions
The second product complementary and an extension to the first one is FeedIQ which helps companies gain market, industry and competitive insights. FeedIQ can process large number of emails, communication data, documents in couple of seconds providing the user summary of the document. This is very helpful for organizations or firms that need to look at compliance, trends, emerging themes in their conversational or research data. The other advantage that FeedIQ provides is it can collect and analyze what we call dark unstructured data from documents, news, emails, chats, social, web to create intelligent repositories that can drive automation and transactional workflow.
The third product is the hybrid of the first two that are special purpose Intelligent Agents/Assistants – these are agents that automate specific workflow e.g. Scheduling meetings with clients, an agent that acts a personal digital assistant to the purchasing department to provide inventory control, purchase order status – these are just few of the use cases.
Q: You’ve recently announced AppConnect partnership with Talkdesk; tell us something more?
A: Talkdesk is a unique company that is at the forefront of disrupting and bringing the next generation customer interaction solution. Contact center customers using Talkdesk can now avail the latest out of the box conversational A.I. to improve customer engagement. Our virtual agents will act as live human agents operating over passive channels of SMS, Chat to interact with customers and triage issues before conferencing in a live human agent to complete the transaction. All of this is done with push of a button with no preconfigured elaborate setups or training.This provides immense cost savings to the users.
Recommended: Hackbright Academy’s CEO Alice Hill Is Hacking ‘Brogramming’ Culture One Woman At A Time
Q: Could you give us more insights into your technology?
A: Omniquo has it’s own proprietary artificial intelligence technology which is based on 15+ years of research in. Omniquo’s differentiated IP in deep domain conversational A.I. understands meaning from content such as emails, chat, SMS, documents, web, social media and powers the company’s Intelligent Agent and dark data insights product lines. We do not license or use open source systems as our approach to neural linguistic interpretation mimics that of a human brain node and not some statistical model. It is for this reason that we can analyze and respond to content by flipping a switch rather than having to go through elaborate machine learning and curated dictionary models. Since we own the whole nine yards of the IP spectrum we do not have to license third party systems, pay royalties and we are not beholden to third party develpoment cycles – thereby we can pass the cost savings to our customers.
Intelligent agents are tools that supplement some of the routine tasks that one is doing giving the individual more time to focus on customer and corporate needs. The intelligent agents drive more sales revenue through increased leads be it converting website visitors or demand generation campaigns. The Intelligent agents help companies in cost savings in software development, support, service and training. They remove the inefficiencies within the system by automating basic tasks and effectively sharing information externally/internally.
Q: What are your plans for next four months?
A: We are focused on growing our business both within US and internationally through partnerships and regional investments. On the product side – we will remain focused on our conversational AI assistants and the synergy these agents can derive in making real time decisions leveraging dark data. The goal is to reduce the noise to signal ratio – our goal is to automate over 80% of entry level transactions that enterprises currently handle via manual interactions.
Q: How would you convince the reader to start using your intelligent agents?
A: Omniquo’s intelligent agents are ready to automate your transactions today. They do not need any training, heavy lifting integration or data curation. You can see benefits from day 1. They can be deployed in less than 24hrs and we charge based on the volume i.e. number of conversations and we have transparent pricing that is published. There are no hidden costs or service costs associated when compared to other companies. Simple and easy to use.
Activate Social Media:
