Verint Launches AI Blueprint to Simplify Enterprise Investment in AI

Conversation Analysis System Determines Precisely How Companies Can
Best Leverage AI and Accelerate Automation Return on Investment

MELVILLE, N.Y.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ActionableIntelligence?src=hash” target=”_blank”gt;#ActionableIntelligencelt;/agt;–Verint®
Systems Inc.
(Nasdaq: VRNT), The Customer Engagement Company,
today announced the launch of AI Blueprint, a
patent-protected conversation analysis system that identifies
intelligent virtual assistant (IVA) use cases and accelerates
automation. AI Blueprint unlocks the power of conversational data and
returns specific insights for achieving an organization’s unique
business goals. The system then delivers a “blueprint” of precisely how
and where businesses can get started with AI or continue to grow their
AI capabilities, reducing risk and leading to improved operational
efficiency and faster ROI.

“Businesses today need a well-defined roadmap of the resources required
to implement an intelligent assistant successfully. AI Blueprint fills
this need,” said analyst Dan Miller, founder of Opus Research. “This
unique conversation analysis system offers organizations a package of
key elements and resources to speed the time to value today and in the
future.”

While AI adoption across the enterprise continues
to grow
, HFS Research* projects that, by 2020, more
than 50%
of enterprise adopters will face AI fatigue. Making
informed decisions about how to leverage AI effectively remains
challenging, costly, and time consuming. Many businesses invest in AI
systems that don’t serve their underlying business needs, and these
systems are soon abandoned.

“Understanding precisely how AI can be leveraged to support specific
business goals is an ongoing industry challenge,” said Tracy Malingo,
SVP of product strategy at Verint. “At Verint, our chief goal is
enabling organizations to effectively automate areas in the business
with the greatest potential for ROI. AI Blueprint helps businesses
understand the right place to start when it comes to implementing AI.”

The AI Blueprint contains a simple yet effective two-factor analysis:

1. Leveraging AI and machine learning for analysis, classification, and
labeling of any company’s structured and unstructured conversational
data.

2. Determining whether the organization could benefit from deploying AI.

If AI Blueprint identifies that there is a business need for AI, the
analysis system returns comprehensive and customized recommendations. It
identifies which use cases will generate the most business value,
develops a range of measurable key performance indicators adapted to the
business goals, and generates a roadmap for implementing and/or further
developing AI-powered IVAs in ways that ensure long-term success.

Thirty-one
percent of business executives
believe that IVAs are the AI-powered
solutions likely to have the largest impact on their business. The
results that AI Blueprint has seen with initial pilot customers further
validates this finding.

Through AI Blueprint’s unique two-factor analysis approach, enterprises
have seen:

  • 83% deflection in live chat volume.
  • 44% cost reduction in the first year.
  • $1 million saved in customer service email costs in a single year.
  • 50% decrease in the amount of time it takes a customer to reset a
    password.
  • 27% reduction in live-chat costs.

In total, these benefits can accelerate the ROI of the IVA platform from
months to weeks.

“IVAs are the future of customer engagement,” said Verint’s Michael
Southworth, general manager, intelligent self-service. “Yet delivering
exceptional customer experience is like hitting a moving target because
every business is unique. AI Blueprint helps ensure that an IVA strategy
is consistently delivering exceptional customer experiences and driving
operational efficiencies.”

To learn more about AI Blueprint and Verint’s IVA offerings click here
and to download the new eBook, Plan Intelligently with AI Blueprint,
click here.

About Verint Systems Inc.

Verint® (Nasdaq: VRNT) is a global leader in Actionable
Intelligence® solutions with a focus on customer engagement
optimization, security intelligence, and fraud, risk and compliance.
Today, over 10,000 organizations in more than 180 countries—including
over 85 percent of the Fortune 100—count on intelligence from Verint
solutions to make more informed, effective and timely decisions. Learn
more about how we’re creating A Smarter World with Actionable
Intelligence® at www.verint.com.

*Source: HFS Research, Points of View Report by Tapati
Bandopadhyay, Feb 8, 2019

This press release contains “forward-looking statements,” including
statements regarding expectations, predictions, views, opportunities,
plans, strategies, beliefs, and statements of similar effect relating to
Verint Systems Inc. These forward-looking statements are not guarantees
of future performance and they are based on management’s expectations
that involve a number of risks, uncertainties and assumptions, any of
which could cause actual results to differ materially from those
expressed in or implied by the forward-looking statements. For a
detailed discussion of these risk factors, see our Annual Report on Form
10-K for the fiscal year ended January 31, 2019, and other filings we
make with the SEC. The forward-looking statements contained in this
press release are made as of the date of this press release and, except
as required by law, Verint assumes no obligation to update or revise
them or to provide reasons why actual results may differ.

VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, NEXT
IT, FORESEE, OPINIONLAB, KIRAN ANALYTICS, TERROGENCE, SENSECY, CUSTOMER
ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, EDGEVR, RELIANT,
VANTAGE, STAR-GATE, SUNTECH, and VIGIA are trademarks or registered
trademarks of Verint Systems Inc. or its subsidiaries. Other trademarks
mentioned are the property of their respective owners.

Contacts

Media Relations
Amy Curry
Verint Systems Inc.
amy.curry@verint.com

Investor
Relations

Alan Roden
Verint Systems Inc.
alan.roden@verint.com