Freshworks acquires AnswerIQ, a supplier of AI solutions. The acquisition is intended to supplement the AI engine in Freshworks’ Customer Engagement software, so that users can make better use of their data.
Known as Freddy, Freshworks‘ AI engine is designed to enable organisations to fully leverage their customer data to implement, for example, self-service capabilities, or automate certain common customer workflows. AnswerIQ’s machine learning models use cognitive search and AI algorithms. Millions of customer interactions can thus be automated, according to the two companies, for example by generating self-service Q&A’s.
Direct training with ticket data
For example, the engine can learn from ticket data and employee actions within the Freshworks Customer-for-Life cloud. Through this training, the self-help capabilities of customers can be improved. Previously, Freddy used a knowledge base as a source for training, but now it will become direct ticket data. The engine will be able to anticipate customer needs, make recommendations to employees based on the conversations and perform tasks such as refunds and cancellations without the need for manual input.
“The integration of AnsweriQ’s technology enhances our AI/ML capabilities in terms of customer engagement and provides significant value for our customers,” said Girish Mathrubootham, founder and CEO of Freshworks. “Pradeep brings executive-level insight and expertise that will be leveraged in its new role as Chief Customer Officer as we redouble our efforts to engage and retain customers for life.