Recognition comes amid 80% growth in ARR, coupled with milestone generative AI-powered product launches and new customer wins across markets.
Dubai, October 4, 2023: Yellow.ai, a global leader in conversational AI, today announced that it has been named a major contender for the third consecutive year in Everest Group’s Conversational AI Products PEAK Matrix® Assessment 2023. The company has also been recognised as a Star Performer in the report for the second time. Leading the way in introducing innovative generative AI-powered conversational AI solutions for customer and employee experience automation, Yellow.ai has achieved an impressive 80% growth in ARR amid new customer wins across markets.
For this year’s report, Everest Group evaluated 25 conversational AI technology vendors based on their capabilities and market offerings. Yellow.ai stands out as one of the only four vendors bestowed with a Star Performer designation, exhibiting a significant enhancement in its overall capabilities compared to the 2022 assessment.
“We are truly honoured to be recognised again as both a major contender and a star performer in Everest Group’s 2023 Conversational AI Products PEAK Matrix Assessment. In the past year, the global conversational AI industry has undergone a significant transformation, fueled by generative AI and enterprise LLMs. Yellow.ai is a key leader in this evolution, with our strong focus on leveraging generative and conversational AI to empower enterprises in their customer and employee experience automation journeys,” said Raghu Ravinutala, CEO and co-founder of Yellow.ai. “With such rapid advancement in the field of AI, especially generative AI, we firmly believe that the future of customer support is fully autonomous. Our platform capabilities and product roadmap align with this vision, and we are dedicated to maintaining our position as pioneers, consistently delivering path-breaking solutions with a focus on customer-centricity.”
Yellow.ai has been scaling up its presence across markets such as Asia-Pacific, Europe, the Middle East, and Africa, with North America experiencing a remarkable ~6x YoY growth. The company recently introduced YellowG, powered by a cutting-edge multi-LLM architecture that combines centralized LLM intelligence with the precision and security of proprietary LLMs.
Leveraging the best of generative and conversational AI, YellowG brings a distinct human touch to AI conversations, exhibiting near-human empathy while maintaining an astonishingly low hallucination rate close to zero%. Yellow.ai’s dynamic chat and voice AI agents are enabling enterprises to deliver highly personalised experiences to customers and employees while significantly reducing operational costs by 60 percent, achieving 90% automation within the first 30 days, and achieving a 40% increase in CSAT ratings.
CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.