In today's competitive landscape, contact center leaders understand that utilizing AI to enhance self-service channels is essential for improving customer experience and boosting operational efficiency. Self-service channels offer customers a faster and more accessible way to resolve issues, which is why an increasing number of people prefer using self-service before speaking to a live agent.
For companies, self-service can lead to significant savings, costing only $0.10 per contact on average compared to around $8 per contact for live support. However, self-service channels often fail to meet their potential, with 88% of customer interactions that begin with self-service ultimately involving live agents.
A primary challenge organizations face when developing speech-driven self-service applications is achieving high accuracy, particularly in converting numeric and alphanumeric speech to text. For example, an online retailer might need to capture a caller’s order number accurately, or a shipping company may require precise recognition of a customer’s tracking number to facilitate self-service. Improved accuracy in these areas directly leads to higher self-service containment rates, resulting in substantial cost savings and an enhanced customer experience.
This is why we’re pleased to announce that Deepgram’s industry-leading Nova-2 automatic speech recognition (ASR) model is now generally available as a speech-to-text (STT) option in Five9 IVA Studio 7. In real-world tests, Deepgram was found to be 2-4 times more accurate than alternative STT options for transcribing alphanumeric inputs commonly encountered in self-service interactions such as:
- Account number and user / member ID
- Order number
- Product serial number
- Package tracking number
- Policy number
- Healthcare product SKU
- Vehicle identification number (VIN)
- Mailing address
After switching to Deepgram in Five9 IVA Studio, a major healthcare provider doubled their user authentication rates due to improved alphanumeric transcription accuracy. Moreover, Five9 customers can leverage Deepgram for incredibly fast and accurate real-time and post-recording transcription directly within Studio 7 for all of their speech-to-text needs.
“Deepgram's real-time transcription accuracy enables improved call resolution and higher self-service containment rates without the need for a live agent, resulting in substantial cost savings for our customers.” – Richard Dumas, VP AI Product Strategy at Five9
Five9 + Deepgram: Better Together
As businesses strive to optimize customer interactions, the partnership between Deepgram and Five9 sets the stage for groundbreaking conversational AI solutions. By utilizing this new integration in Five9 IVA Studio, companies can embrace the future of customer service, achieving unparalleled success rates and customer satisfaction levels with their next-generation IVAs. The benefits are many, including:
- Higher Accuracy - Increase self-service success rates, especially when alphanumeric transcription accuracy is critical.
- Low Latency - Leverage the fastest transcription speed in the industry to support real-time conversational AI applications.
- Cost Efficiency - With higher containment rates, unlock significant cost savings.
- Faster Go-to-Market - Deepgram speech-to-text is now generally available as an integrated, easy-to-access pulldown option in Five9 IVA Studio 7.
- Better User Experiences - Tailor your conversational AI experience to your unique contact center workflow.
Try it yourself by calling (219) 695-8627. Simply speak a ten-digit combination of numbers and/or letters, and the IVA will repeat them back to confirm its understanding. Enhance your contact center operations with the power of Deepgram and Five9 today!
About Five9
Five9 is an industry-leading provider of cloud contact center solutions, bringing the power of cloud innovation to more than 2,000 customers worldwide and facilitating billions of call minutes annually. The Five9 Intelligent Cloud Contact Center provides digital engagement, analytics, workflow automation, workforce optimization, and practical AI to create more human customer experiences, to engage and empower agents, and deliver tangible business results. Designed to be reliable, secure, compliant, and scalable, the Five9 platform helps contact centers increase productivity, be agile, boost revenue, and create customer trust and loyalty. For more information, visit www.five9.com.
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