Axis Bank to launch AI-powered multilingual voice bot ‘AXAA’

Axis Bank has partnered with a Bengaluru-based startup, Vernacular.ai, an AI-based SaaS Voice automation platform, in order to optimize voice AI solutions and help automate customer interactions through intelligent human-like dialogue, through its multilingual voice bot, named as AXAA.

Details

Axis Bank’s ‘AXAA’ uses the next-generation multilingual voice AI platform developed by the startup, built on top of VASR (Vernacular Automated Speech Recognition). It is a high-end STT (Speech-to-Text) Technology that enables enterprises to convert audio to text by applying powerful neural network models in an easy-to-use API.

Impact

Axis Bank has been one of the earliest adopters of the AI-enabled technology and with this new addition, the average call handling time by the customer executives has been reduced significantly and also the overall customer experienced has been enhanced. This system has helped in solving 250000 additional calls per month. The bank is always willing to elevate technology to newer domains and this is one such example.

About Vernacular.ai

It is established with the vision to be the leading voice automation /AI platform in the country and it mainly services the clients across multiple sectors such as travel and tourism, F&B, D2H, among others. The unique model of the company helps improve the engagement models by using innovative speech recognition and NLU technology, thereby being able to provide the best customer experience. This system supports over 10 languages with around 160 dialects, as of now.

Month: Current Affairs - August, 2020