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As organizations continue to move towards digital transformation, business decision makers are seeing an increased need for data-driven decisions, backed by high-quality analytics. According to a Gartner report, one of the biggest challenges organizations face is a lack of information about the different types of customer inquiries they receive and the reason for contacting customers.
Steve Blood, vice president and analyst at Gartner, said in the report that organizations can use speech/voice analytics to optimize contact center costs through self-service, process improvement and to deeper engagement. “Application managers for customer service and support technology who are under pressure to reduce costs should first use voice analytics to discover what types of requests could be automated or avoided, before addressing service improvements. customer engagement via phone or digital channel,” Blood said.
Voice analytics holds great promise, with Gartner predicting that 60% of organizations with Voice of the Customer (VoC) programs will supplement traditional surveys by analyzing voice and text interactions with customers by 2025. While an article by McKinsey notes that voice analytics can provide a high-quality customer experience in the digital age, that’s not the only use case for voice analytics. For example, voice analytics can also help organizations improve operational efficiency at all levels.
Another report, from Deepgram and Opus Research, shows that 77% of companies use voice technology to identify new business opportunities, and 62% use it to increase revenue. The use cases for voice technology are huge, and Israel-based voice analytics technology company Nemesysco wants to break new ground in the industry.
Nemesysco is creating a new voice analytics company called Emotion Logic, which will use artificial intelligence (AI) to detect and measure human emotions and improve communications and automated interactions in metaverse worlds. While the parent company, Nemesysco, uses its proprietary Layered Voice Analysis (LVA) technology to meet the different needs of the security, enterprise and financial markets. Emotion Logic will focus on creating a natural and human experience in digital worlds.
How Nemesysco Technology Works
Amir Liberman, founder and CEO of Nemesysco, told VentureBeat that the company’s technology uses more than 150 unique biomarkers extracted from voices that researchers have found to correlate with key human emotions. He said the company’s technology is designed to capture a speaker’s true emotional state and measure uncontrolled psychological and physiological changes in the voice during open conversations.
Liberman said excitement, enthusiasm, aggression, stress, fatigue and mental exertion are just a few examples of the many emotions that Nemesysco’s technology can detect and measure.
“What we are aiming for with Emotion Logic is to take the information obtained by our technology – along with the textual layer, metadata and any other input – and merge it into an AI engine that understands emotions and does not can not only relate to what a person says, but also what the person really feels,” he said.
He said Emotion Logic will provide companies and their decision makers with real, unfiltered data regarding their customers’ intentions and satisfaction level with the monitored experience. In other cases, it will offer insight into employees and their needs within an organization.
Technology Use Cases
Nemesysco currently serves call centers with a wide range of features ranging from support (genuine sentiment analysis, agent attrition detection) and sales (sales optimization) to debt collection, assessment risk and fraud detection. The company also supports work from home surveys, medical surveys, market research use cases and provides organizations with recruitment processes. Liberman also said that Nemesysco offers both risk assessment and true personality assessment tests using semi-automated platforms, adding that one of the company’s biggest clients recently installed a comprehensive internal investigations and audit unit.
While Liberman expects Nemesysco to grow more on the security side and continue to develop more user-friendly, intuitive, and deeper reporting and solutions for businesses and governments, he said the future of Emotion Logic will be different. He said Nemesysco’s Emotion Logic spin-off will also be a key driver of growth in the coming months and that ambitious milestones have been set for both companies, particularly around a new generation of the AI.
“This company is about the deep integration between understanding emotions and a new generation of AI that we’ve been conceptualizing for over 10 years now. Emotion Logic is AI-based and true emotion sensing is just the one of the company’s activities,” he said. “Our ultimate goal is to enable the creation of true human-like AI with the ability to perceive experiences the way humans do.”
What Nemesysco does differently
Liberman said that while the approach used by others in the industry analyzes prosody or textual layers to infer sentiment, the approach with its LVA technology is different.
He said LVA is built on a core understanding of human emotions and how they appear in voice. The company also focuses on the subphonetic components of voice.
Liberman agreed that there are several emotion detection engines on the market today, but noted that they are all based on different approaches, such as training an AI ensemble with actors to identify the sound of an angry person or the sound of a sad feeling. Other approaches, according to Liberman, attempt to understand emotions from selected words. He said that at best, these approaches allow the AI to identify played voices representing different emotions and how to relate to the selected word choice.
“Our approach is different and our level of understanding of human emotions is far beyond what is generally discussed and unrivaled in the market today,” he said.
Learn more about emotional logic
While Nemesysco currently has 15 employees, Liberman said he expects that number to double within six to 12 months. He said the company would hire more expert developers and senior executives as it begins its transition to more meta-global business and direct customer relationships with Emotion Logic.
While Nemesysco has been self-financing since its inception, Emotion Logic will take a different approach. Emotion Logic is currently seeking to raise $10 million to fund the development of the first product line and establish grassroots partnerships to propel the company’s future growth.
A major market opportunity that Emotion Logic wants to exploit is the emerging metaverse. Liberman said voice communication is likely to play an important role in meta-worlds, especially human-computer interactions in robotics, Web 3.0, the metaverse, and emotion-aware services will be paramount.
“No one likes talking to a robot who doesn’t care how you feel. Even today’s good robots are still annoying to listen to. Now imagine one of those robots trying to sell you something. will not happen without a certain level of built-in humanity that Emotion Logic develops,” he said.
Emotion Logic currently operates in Nemesysco offices and is operated by Nemesysco staff, but that will change once the company secures its initial investment to hire dedicated developers and AI experts.
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