Enterprise Bot on a growth course

Stefan Kyora

03.09.2018 16:23
Artficial Intelligence

SIX Group, Generali Switzerland, SWICA, a large bank in Scotland, AfterPay, Lings and PwC Switzerland are already customers of Enterprise Bot. The start-up’s AI is able to draw meaningful insights from unstructured datasets and can be used for example for chatbots. We talked to Co-founder and COO Ravina Mutha about success factors, the last milestone, different kinds of support and the decision to move to Switzerland.

Today, every industry is shifting its focus into customer experience. The existing model is extremely human-driven and the sector is very expensive as the companies invest heavily in training their staff. The lack of sector knowledge puts a huge pressure on training which in turns increases the existing cost. “The finance industry is still waiting for a major breakthrough in automating customer service and other business operations, and this has been proven to be our forte”, says Ravina Mutha, Co founder and COO Enterprise Bot. “Our products improve customer service experience of enterprises by providing 30 times faster and high-quality responses at a fraction of the cost through AI chatbots, leading to increased productivity.”

Enterprise Bot now has a standard offering for its suite of products including chatbots (mainly for sales and customer service), email triage bots and an AI scheduling assistant. On the back-end Enterprise Bot has an AI engine where it provides the data for the bot, a product engine that can feed large volumes of product data to the AI engine and an analytics module. In addition, the out of the box solution is pre-trained for use case of its large corporate clients. Other chatbot companies involve significant time and resource effort from the client to train the AI engine and provide it the skills required to go live.

What might be even more important: Compared to other chatbot companies Enterprise Bot has a high number of “real” use cases with clients where its technology is able to improve customer satisfaction and operational efficiency for clients. Its clients include AfterPay, SIX Group (Swiss Stock Exchange), Generali Switzerland, SWICA, a large bank in Scotland, Lings and PwC Switzerland.

First project in the health insurance sector
The last important milestone for Enterprise Bot was a project in collaboration with PwC in which the chatbot IQ for Swiss health insurer Swica was built. “This was an innovative offering and first ever AI based, customer facing chatbot available on the website of a health insurance company in Switzerland”, comments Ravina Mutha. IQ was tested by German-speaking customers and interested parties. “Following very good initial feedback from customers, IQ’s progress was carefully evaluated in detail and we are very proud that it was able to exceed accuracy expectations set out at the start of the project”, Ravina Mutha says. It was the first health insurance project done by Enterprise Bot and provided a lot of information about the industry and about the customers and product itself. During the project the product engine was created to make it easy to train the AI engine with complex insurance product data. It helped Enterprise Bot create a chatbot with a very large knowledge base of health insurance product information.

Enterprise Bot now has 15 full-time and 5 part-time members with different skills and experiences both in business and technical domains. The three co-founders Pranay Jain, Ravina Mutha and Sandeep Jayasankar have co-founded a tech company together in the past and have known each other for several years. After the rapid expansion in the Swiss market in the Swiss market, is currently in the scale-up phase with a goal to continue to expand the market in Switzerland, UK, Netherlands and Germany.

Support provided tangible benefits
Startupbootcamp, F10 and Generali Switzerland supported the start-up. “Each of them has been instrumental and very special in their contribution to the success of the company”, comments Ravina Mutha. Startupbootcamp helped Enterprise Bot refine its pitch deck and value proposition, and most importantly gain its first client; After Pay. F10 was responsible for Enterprise Bot moving to Switzerland, scaling its MVP to a product and being able to develop its client base through the vast network of F10 corporate partners. And Generali Switzerland has been very adoptive and encouraging of Enterprise Bot technology which enabled Enterprise Bot to build innovative, valuable products such as the email classification engine, “Mia” the AI scheduling assistant to set up meetings for Generali employees. “Additionally, Generali invited Enterprise Bot to work from the Innovation Garage”, says Ravina Mutha. “The Garage has not only a great startup community but also added advantages such as great coffee, workshops and sessions, infrastructure and access to the innovative and forward thinking Generali innovation team.

When asked about the decision to move to Switzerland Ravina Mutha says, “it was absolutely the right decision. By moving to Switzerland, Enterprise Bot been able to significantly develop its technology by adding features such as stringent data security and language capability, including Swiss German phrases. Switzerland offers a stable economic environment and a high quality of life in addition to a liberal tax system supported by efficient and reliable administration. For Enterprise Bot as a startup, another key success factor has been the culture of large corporates for open innovation and to do and test rather than follow upcoming technologies.”

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