Challenges

How to become compliant handling millions of phone calls.

Recently EU announced MiFid II(Markets in Financial Instruments Directive), the legislation that regulates firms who provide services to clients linked to ‘financial instruments’ (shares, bonds, units in collective investment schemes and derivatives), and the venues where those instruments are traded. MiFID II will take a full effect from 3 January 2018 and includes a revised MiFID and a new Markets in Financial Instruments Regulation (MiFIR).

While preparing for MiFID II, taking a full effect from January 3rd 2018, financial firms need to address several areas of the legislation. One part of MiFid II regulated recording of calls in securities trading. The legislation requires comprehensive and evidence-proof recording and archiving of calls that may result in transactions regardless of the channel: phone, video call, chat or e-mail.

Opportunity

A data driven AI transcribing engine making all calls 100% searchable. And compliant with Mifid2.

To be able to find a specific call, or an advice given, the recorded calls need to be searchable. To solve this, all calls need to be automatically transcribed to computer friendly format such as text. With all calls transcribed and stored into a data lake, all conversations become searchable, making it easy to find specific customer conversations or get aggregated information on popular conversation topics, sentiment analysis (number of positive/negative calls), ability to give feedback to sales reps in real time, etc.

Inovia Voice 2 Text product is doing all those things listed above, and more.

Voice 2 Text also comes with a dashboard visualizing real time information and historic data on calls transcribed. It can also be used to identify a person based on voice recognition. A full transcription on all calls are available in the Data lake where the data is stored. All this enables further customer analysis and being 100% compliant with the Mifid II regulations.

Inovia Solution

Inovia Enterprise AI - enabling any industry to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of their data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Software

Voice to Text, a transcription engine - makes calls 100% searchable!

How do you start?

What is the best strategy for my company?

We’re here for you to sort out and set up a strategy, tailored to your business.

Challenges

The healthcare industry is evolving rapidly with large volumes of data.

The healthcare industry is evolving rapidly with large volumes of data and increasing challenges in cost and patient outcomes. 

 

Clinicians are often overworked, and Health care centers are understaffed. Various studies estimate a diagnosis error rate of 10 – 15% due to lack of time which has a huge impact on those patients and the providers.

Opportunity

Take off workload for doctors and nurses with AI-based virtual assistant doing all administration.

Inovia AI has developed an Intelligent AI-based Virtual Assistant called Digital Clinic that will streamline clinical workflows and raise patient engagement to the next level.

Empowering doctors and nurses.
Inovia’s Virtual Assistant Digital Clinic aids a healthcare organization to collect demographic information, patient health history, diagnosis & prescription options, access data health records, improve patient discharge & follow up treatments, improve communication between providers, data mining and analysis of all the records.

Empowering patients.
Inovia’s Virtual Assistant Digital Clinic enables patients to naturally communicate in a chatbot to get their health-related queries answered to help them stay on track.

Lowering costs.
It is observed that increasing patient engagement and improving self-management skills for chronic disease will greatly reduce healthcare inefficiencies.

Further the Virtual Assistant facilitate healthcare organizations to reallocate their IT and human resources to overcome the rising health IT costs. This in turn assist the organizations to increase healthcare quality, patient satisfaction, and patient outcome with the same or fewer number of employees.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

The healthcare industry is a key focus for Inovia AI with an initiative to help develop intelligent AI healthcare solutions.

Software

AIVA - a truly intelligent Virtual Assistant

How do you start?

What is the best strategy for my company to enhance customer support?

We’re here for you to sort out and set up a strategy, tailored your business.

Challenges

High demands to staying relevant.

One of the biggest challenges for marketers today is relevance. More and more, consumers expect content to be personalized based on their needs and preferences. An email with generic messages falls flat and has a low click through rate, or a website landing page with generic messages and content fails to convert prospects to the next level.

For many marketers, broad segmentation based on historical data and segment-based content creation has been the best approach available. Unfortunately, even this approach leaves many campaigns with low click through and conversion rates

Opportunity

AI drives relevant dialog with customers.

AI techniques can be used to create 1:1 personalization of content that matches the right content with the right customer at the right time. AI models can use a broad set of signals about customer intent including real-time behaviors, prior purchases, preferences, and interests of similar customers. For website landing pages, for example, AI can be used to dynamically select the content including images and messages that will be most likely to convert a given customer.

For emails, AI can be used to dynamically compose an email creative from available images and offers to provide the greatest appeal. For all these cases, the content that is selected is based on the individual customer’s real-time behavior, most recent purchases and interests, instead of old insights or broad segments.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Softwares

Drive relevant dialog with customers.

The endless possibilities for content personalization with an AI-based Virtual Assistant.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Challenges

The old school pricing methods doesn't apply anymore.

With retail assortments growing, increasing turnover and with many cases with decreasing store footprints, retailers need new ways to generate profits. Pricing for retailers has typically been driven from the corporate level by established pricing guidelines and competition.

Markdowns for many retailers are driven by tried and true techniques with x% at 6 weeks, y% at 8 weeks etc. These traditional methods are insufficient to compete with new online or omni-channel competitors who are better positioned to capture profits through careful price management.

Opportunity

Maximizing profits with AI technology.

AI is ideal for situations where a retailer needs to optimize across a wide assortment of items based on a variety of factors. AI models can be used to determine the best price for each item using data on seasonality and price elasticity along with real-time inputs on inventory levels and competitive products and prices. The result is more careful markdowns on specific colors or versions to a very specific price to increase demand and maximize profits.

Marginal price increases are also possible on some items to capture demand from trends. AI can also be used to provide reasons for pricing suggestions that indicate the key factors when making the pricing suggestion. This is helpful to retailers who want to know why particular items are being suggested for markdowns.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Software

Use the power of AI within your existing IT landscape.

Learn how you jumpstart with Microservices. The benefits and options of Inovia Enterprise AI.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Challenges

The difficulties to make recommendation engine work.

McKinsey and Company reports that as much as 35% of Amazon’s onsite revenue is generated by its recommendation engine. Retailers know that recommended products can generate increased cross-sell and up-sell opportunities, but few have actually implemented truly personalized product recommendations on their sites, in emails or other channels.

If they contain recommended products at all, many websites and emails still contain static recommendations where everyone who visits that page or receives the email sees the same products. While these recommendations are better than nothing, they are far from the individualized items that consumers now expect.

Opportunity

Increasing cross-sell and upsell with AI technology.

Every retailer wants to have high quality recommended products everywhere from emails to landing pages, their homepage to categories, product pages and cart to drive increased cross-sell and upsell. AI can be used to find the patterns in customer behavior from clickstream data, prior purchases, demographics and preferences that lead to the best product recommendations for each individual consumer. For example, when a customer visits the homepage of a website, the products can even categories displayed can be based on their known preferences and prior purchases such that the items displayed are highly relevant to them.

For emails, product recommendations can be generated as an email is being opened so that the recommended products are relevant based on the customer’s most recent browsing behavior and purchases. With AI, highly relevant and personalized product recommendations, websites, email campaigns, call center agents, and mobile applications can provide personalized experiences for consumers that drive increased conversion rates, basket size and customer loyalty.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Software

Learn how a Virtual Assistant can increase your cross- and up-sell.

The endless possibilities for sales with an AI-based Virtual Assistant.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Challenges

The frustrating call center dilemma.

When a consumer or business has support issues they can end up on the phone with multiple support agents for what seems like hours. For many customers this still will not result in a solution and then a service technician will be dispatched to their location.

This process is frustrating for customers who are experiencing phone or internet service issues that are impacting their life or business. This process also impacts support employees who experience low job satisfaction and high turnover.

Opportunity

Solving customer issues on the first call.

AI can be used to find patterns in support data to find solutions to customer issues. AI models can utilize a variety of data from prior support inquiries and resolutions, network data, weather data and more. AI models can then determine the most likely issues that the customer is facing with the minimal amount of questioning.

This more efficient process is better for customers because their issues are resolved more quickly. The process is better for support agents as they work with fewer unhappy customers and they get to help the customer actually solve their issue. Finally, this process has a huge impact on the bottom line for service providers by reducing the number of unnecessary service technician calls which makes these technical resources available for actual network or hardware repairs.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Software

Use the power of AI within your existing IT landscape.

Learn how you jumpstart with Microservices. The benefits and options of Inovia Enterprise AI.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Challenges

Expensive to acquire new customers.

It is widely known in the Insurance industry that retaining a customer is much more cost effective than acquiring a new one. More importantly, high value customers often have a portfolio of products including multiple policies making them even more painful to lose.

Simple churn analysis uses rules based on known behaviors to identify potential churn risks. Rules-based systems, however, are inflexible and miss many customers who leave and generate false positives that end up giving expensive incentives to customers who do not need them.

Opportunity

AI helps retain valuable insurance customers.

AI is a great solution for customer churn prediction as the problem involves complex data over time and interactions between different customer behaviors that can be difficult for people to identify. AI can look at a variety of data, including new data sources, and at relatively complex interactions between behaviors and compared to individual history to determine risk.

AI can also be used to recommend the best offer that will most likely retain a valuable customer. In addition, AI can identify the reasons why a customer is at risk and allow insurance company to act against those areas for the individual customer and more globally.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Software

Avoid customer churn by using AI technology to predict customer behaviour.

Learn how you jumpstart with Microservices. Get the power of AI within your existing IT landscape.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Challenges

Outage drives customers to expensive call centers.

Mobile applications are critical to many businesses today. For credit card and banking companies, for example, mobile applications represent a significant channel of interaction where customer can review transactions, pay bills and resolve support issues.

When application services are not available, customers use more expensive call centers for support. With payment applications, an outage means lost transactions, revenues and increased customer churn.

Opportunity

Finding network anomalies faster with AI proven to be successful.

AI systems have been proven successful at detecting anomalies in transaction volume data. This time series process looks at expected data volumes based on historical patterns. Upper and lower boundaries are also predicted based on volume variation. This system is then used to compare real-time transaction value to expected volume.

This real-time system allows network administrators to be notified when transactions start to spike above or fall below these boundaries so they can take action before an outage in service.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Software

Components from Enterprise AI will detect anomalies really fast.

Learn how you jumpstart with Microservices. Use the power of AI within your existing IT systems.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Challenges

Understanding the dynamics of your customer with AI.

Know Your Customer (KYC) is a key part of money laundering and anti-terrorism legislation. The Customer Due Diligence (CDD) process requires banks to file reports of suspicious activity. Almost two million such reports were filed in the United States alone in 2017 according to a study by the Royal United Services Institute for Defence and Security Studies — a U.K. think tank. Failure to identify and file reports on suspicious transactions results in billions of dollars in fines for banks.

Investigators looking into suspicious activity use a variety of tools including rules that flag frequent or international transactions or interactions with offshore financial centers. Unfortunately, with the volume and variety of transactions, rules-based approaches are not flexible enough to capture new patterns and produce large number of false positives that need to be reviewed.

Opportunity

AI technology identifies suspicious behavior.

AI is an ideal technology for finding anomalous patterns and identifying areas of risk especially where there are a large number of items of different types that need to be reviewed and potentially correlated. Machine learning can be used to perform analysis of transactions and can look for indicators of suspicious behavior including transactions with dubious jurisdictions, suspicious companies or known parties.

AI can also offer better insights into transactions through analysis of both structured and unstructured data. Natural Language Processing (NLP) techniques allow AI systems to search through communications to find additional signal including extracting metadata, identifying people or companies referenced, and categorizing the intent or purpose of the communication. All of these can help pinpoint suspicious transactions and help investigators as they investigate transactions.

Inovia Solution

Inovia Enterprise AI - enabling all industries to use the power of AI.

When we founded Inovia AI, we had one vision in mind – to help clients unleash the power of data. To reach our goal we created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to our client’s challenges and opportunities.

The result is Inovia Enterprise AI Platform with AI Microservices or Pre-packed AI Solutions that enables all kinds of industries use the power of AI to solve business and social challenges.

Inovia Enterprise AI is outstanding platform for automatic machine learning that empowers data science teams to scale by dramatically increasing the speed to develop highly accurate predictive models.

Virtual Assistant

Excels in finding anomalous patterns and identifying areas of risk.

Natural Language Processing (NLP) techniques allow AI systems to search through communications to find additional signals and help pinpoint suspicious behaviour.

How do you start?

What is the best strategy for my company?

How to define a use case to structure your goals? We’ll help you sort out and set up a strategy.

Background

Hydro power plant from the 60s.

It started as a hobby project when a family from the district took over the Saxnäs hydro station from Vattenfall.

With their interest in technical solutions, the vision was born of how to achieve efficiency and profitability in technology from 1968.

Challenge

Distant location and no internet.

To start with, Saxnäs is far away in northern Sweden, far beyond settlement. The owner visited the station twice a week and sometimes he was met by production failure  due to a malfunction in turbine. 

He realized that the hydro station had to be connected to the internet. To make the operation profitable, it needed also equipped with surveillance and various alarm functions.

Inovia Solution

Centralizing data

The project started off by installing sensors for monitoring of vital parts; to measure performance, data from the turbine speed, heat on turbine bearings, monitoring of analogue meters with Al-based imagery, measurement of precipitation, measurement of the depth of water in the upstream lake etc.

The data collected by sensors  and cameras are then sent to Inovia’s Data Lake Insight where analysis is carried out by the hydro plant performance.

To further increase profitability, external data was added such as weather forecasts to be able to predict rainwater levels – how much water the pond should be filled with.

Additional data from the energy market were also linked, to get indications of how much should be produced and the timing of appropriate sale. The IoT solution not only increased reliability but also gave decision support at production and sales to optimize investment.

The result is that the IoT initiative has given:

• Increased operational reliability.

• Decision support for production and sales.

• Ability to predict problems and failures, be able to fix them before they occur.

• Trend analyzes

• Possibility of remote operation.

This has meant:

• 46% increased profitability

• 13% increase in production

• Reduce CO2 pressure

Software

The Data Lake that fits all the way and lets you grow.

How do you start?

What is the best strategy for my company?

What benefits are there for my type of industry? We’re here for you to sort out and set up a strategy, tailored to your business.