Organizations often look for new ways to enhance customer engagement, which in return drives business growth. Coming into the mix of enhanced customer engagement is smart conversational AI.
Conversational AI systems, used in various applications, including chatbots, virtual assistants, and customer service automation, are equipped with natural language processing capabilities, machine learning algorithms, and often employ deep learning techniques like neural networks to understand and generate human-like responses
Organizations benefit from smart conversational AI in several ways. It enhances customer support by providing 24/7 availability, quick responses and consistent service quality. This not only improves customer satisfaction but also reduces the workload on human agents, allowing them to focus on more complex tasks.
It also helps in data collection and analysis and streamlines business processes by automating routine tasks like appointment scheduling, order tracking, and information retrieval, thereby increasing efficiency and reducing operational costs.
Smart conversational AI is a useful tool. Now, organizations have the opportunity to accelerate their CX operations into the digital era with smart conversational AI at scale with NICE acquiring LiveVox.
NICE holds a prominent position as a worldwide CX industry leader, offering an advanced AI-powered cloud platform for effectively handling various customer interactions, including digital and voice-based, whether agent-assisted or customer-initiated. CXone by NICE boasts an extensive suite of in-house applications, allowing organizations to oversee customer journeys, enhance employee involvement, and achieve overall performance excellence.
With more than 20 years of specialized experience in the CX field and advanced AI-powered proactive outreach solutions, LiveVox boasts a varied and dedicated clientele, encompassing hundreds of businesses of varying scales.
By joining forces, NICE and LiveVox are equipped to assist enterprises worldwide in crafting proactive and personalized customer experiences, meeting customers on their preferred channels and engaging with them in the most suitable manner. This partnership excels in mastering CX in the Digital and AI era, offering an interaction-centric cloud platform and uniting knowledge, data, channels, and CX capabilities, all underpinned by purpose-built AI that seamlessly integrates people, technology, and processes.
The combination of NICE's CXone platform, renowned for its advanced digital engagement features, and Enlighten, the sole AI solution designed specifically for CX, along with LiveVox's sophisticated proactive outreach portfolio, results in a unified platform that seamlessly handles all types of interactions. This comprehensive solution encompasses voice and digital communications, both attended and unattended, and covers inbound and outbound interactions.
“The era of Digital Engagement is already here, and we are excited to enable organizations to propel their Digital Engagement and Conversational AI forward,” said Barak Eilam, CEO, NICE. “In joining forces with LiveVox we now have the strongest and broadest proactive outreach portfolio.”
NICE's acquisition of LiveVox marks a synergy between two CX frontrunners, each bringing unique technologies, profound domain knowledge, and a mutual commitment to driving innovation. This acquisition unites their strengths and talented teams, further solidifying their positions as leaders in the CX industry.
“NICE's breadth, reach and commitment to continuous innovation promise to amplify our growth and the capabilities of the complementary solutions we can bring to market together,” said John DiLullo, CEO, LiveVox. “This announcement marks the beginning of a thrilling new chapter for LiveVox.”
In the deal, LiveVox shareholders are set to receive $3.74 in cash for each LiveVox common stock share. This agreement received approval from NICE and LiveVox boards of directors. A majority of LiveVox shareholders have also consented to the merger agreement, eliminating the need for further stockholder approval.
The transaction is slated to close in the first half of 2024, pending regulatory clearances and standard closing conditions. Afterward, LiveVox will cease to be publicly listed or traded on Nasdaq.
Edited by
Alex Passett
