Navigating a year of remarkable growth
As we close another year, I’m filled with immense pride and gratitude reflecting on Yellow.ai’s journey through an epoch of groundbreaking growth and innovation. The tech landscape is evolving at an unprecedented pace, and at the heart of this transformation is the synergy between conversational AI and generative AI. These technologies are not just altering the landscape of customer support; they are redefining it.
Our product strategy, deeply rooted in this synergy, aims to revolutionize customer support and contact centers worldwide with our differentiated full-stack customer support suite. By harnessing the power of generative AI, we’re not just enhancing efficiency; we’re also significantly reducing operational costs for enterprises. This approach positions us not as participants but as leaders in the customer support automation space.
This vision has been reinforced by our extraordinary achievements this year, especially in the North American market. We’ve witnessed a phenomenal 10x growth, a testament to our innovative strategies and the market’s confidence in our capabilities. Our net new qualified pipeline has seen a 2x increase, while our lead generation effectiveness has increased by 3X, thanks to our generative AI-powered solutions and astute market approaches.
Our international progress has been equally impressive. This year, we welcomed 200 new customers, broadening our global presence with expansions to strategic markets in APAC and beyond. More significantly, over 30 of our clients have transitioned from standard chatbots to our more advanced, Generative AI-driven, Large Language Model (LLM) based chatbots. This shift is not just a change in technology; it’s a leap toward a future where customer support is more intuitive, responsive, and fully autonomous.
These achievements were only made possible because of our incredible team, our supportive customers, our partners, and our passionate community. Here’s more insight into how we made it all possible:
1. Ensuring unmatched value for our leading global customers
Here’s the most exciting part! We soared along with existing and new customers, featuring prominent names like Logitech, Randstad, Sony, Hyundai, Bajaj Finserv, Pelago, Lulu Hypermarket, and Oona Insurance.
1000+ enterprises chose us! Why? It’s the impactful results we help them achieve.
- Randstad slashed agent wait times to resolve employee queries by 56%.
- Sony achieved a 5% monthly increase in product and demo requests.
- Hyundai sold 1K cars with targeted campaigns for their customers.
- Bajaj Finserv, an NBFC company, saved operational costs of $16M yearly.
- Pelago, by Singapore Airlines, automated 50% of product inquiries.
2. Building strong ties with our network of partners
As we scale up rapidly across regions and industries, our platform is now available on 7+ marketplaces of leading platforms like SAP, Salesforce, Zendesk, Oracle, etc. to enable even a wider audience to easily access the platform. This further strengthens our integration ecosystem consisting of HubSpot, ServiceNow, Genesys, Avaya, Cisco, Magento, Shopify, Sharepoint, and AWS S3, to enable effortless connection with customers’ existing IT landscape.
In a significant development, Amazon Web Services (AWS) announced that Yellow.ai, the global leader in conversational artificial intelligence (AI), has selected AWS as its preferred cloud provider. This partnership empowers Yellow.ai to leverage AWS to power its generative AI–powered voicebot and chatbot solutions on a global scale.
3. Pioneering next-gen solutions for monumental success
Unity with partners and customers helped us reach new heights, at the same time, our technological advancements in generative AI set us apart. Rather than sticking to FAQ-based conversations, we created dynamic workflows that adapt to customer inputs.
Taking this risk felt like diving into the unknown, but it led to our greatest victories:
We learned that navigating a fast-paced enterprise world requires adaptability, hence introduced some groundbreaking Generative AI-powered features, including but not limited to these top 4 features:
- YellowG, the industry’s first Generative AI platform automates 90% of queries, and helps go live in seconds with zero setup bot deployment.
- Dynamic Chat reduces development and training to enable a 3x faster time-to-market, making conversation flows a breeze.
- User Lifecycle Optimizer helps create campaigns based on user actions and expected business goals, boosting conversions by 50%.
- Inbox, our omnichannel agent assist platform, provides chat summaries, response suggestions, and coaching insights, uplifting productivity by 50%.
Celebrating achievements, awards, and recognitions
It brings us tremendous joy to share the well-deserved recognition we’ve received, a resounding testament to the unwavering dedication and hard work that has driven us to milestones, such as:
1. Securing notable honors and awards
2. Winning spotlights in events, media, and social platforms
Our podcast, ‘Not Another Bot – A Generative AI Show,’ stands as a pioneering initiative in our field, providing insightful conversations with leading experts in customer and employee experience. We engage in discussions with notable figures such as David Linthicum, Chief Cloud Strategy Officer at Deloitte Consulting; Jim Sterne, President at Target Marketing of Santa Barbara; Tushar Kant, Product Management – AI and Cloud Computing, AWS, and Head of Generative AI COE, FalconX Accelerator; Surbhi Rathore, CEO and Co-founder of Symbl.ai. Within four months, it has amassed 4000+ downloads with 24K+ views, claiming the #1 in the Gen AI category and ranking #5 in AI Bot and Bots. Demystifying complex topics, it stands out as a leading resource in the rapidly evolving landscape of generative AI.
Envision, our flagship event, serves as a platform where we share invaluable knowledge and insights about the latest trends in the AI/ML space. This year’s theme, centered around generative AI, drew remarkable participation with 1700+ registrations. The event featured an illustrious lineup of speakers such as Rik Reppe, VP of Innovation at Acquis; David Yakobovitch, Global Product Lead at Google; Ankit Goenka, Head of Customer Experience at Bajaj Allianz General Insurance; Jessica Osborn, Sr. Manager – IT Support Operations at Randstad; Justin Hodges, Sr. AI/ML Tech Specialist at SIEMENS, and more. Their contributions made this edition of Envision the most successful generative AI event hosted by Yellow.ai.
In 2023, we introduced Conversate in Jakarta, Indonesia, a premier event tailored for leaders driving digital transformation through AI-driven customer experiences. With over 400 registrations, this exclusive event unveils the potential of Generative AI by seamlessly integrating advanced Conversational AI and Dynamic Workflow Automation, enabling human-like interactions at scale. Building on the success of Conversate in 2023, we eagerly anticipate an even more remarkable event in 2024.
3. Earning esteemed rankings in top-tier analyst reports
Reinventing our brand with a new identity
On the heels of our triumphs, we rebranded our identity reflecting our promise to deliver memorable conversations, every time.
Our new logo isn’t just a symbol; it showcases our finesse in crafting interactions across 35+ chat and voice channels, affirming our commitment to building trust globally in 135+ languages. Read this blog to uncover more enhancements and experience our new brand identity firsthand.
Investing in our biggest asset: Yellow Tribe
In reflecting on our significant leaps in 2023, we believe that none of this would be possible without our talented employees who embody these core values:
Building a culture of excellence, we also took strides to prioritize employee well-being to enhance engagement and retention— Introducing Yellow.ai’s Wheel of Wellness (WOW), which focuses on mental, physical, financial, and social well-being. Here are some snapshots demonstrating the positive influence of our initiatives on our employees.
Charting the course for 2024 and beyond
Heading towards 2024, we will continue to invest in LLM technologies and create customer-centric and industry-specific, Generative AI-powered solutions.
But, we set ambitious aspirations with the dawn of a new year. We’re shifting gears in customer support with zero-touch experiences, mirroring Tesla’s self-driving cars. With a self-service model, we aim to tackle challenges such as
- Inefficient management of complex service issues
- Operational overheads in customer support
- Declining customer satisfaction metrics
- Extended resolution times for solving queries
Buckle up for a thrilling ride ahead— stay tuned to get more insights!
