We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 – August 3. Join AI and data leaders for insightful talks and exciting networking opportunities. Learn More
As organizations continue to move toward digital transformation, enterprise decision-makers are seeing a greater need for data-driven decisions backed by high-quality analytics. A key challenge organizations face is the lack of insights into the different types of customer inquiries they receive and the reason for customer contact, according to a report by Gartner.
Steve Blood, a vice president and analyst at Gartner, said in the report that organizations can use speech/voice analytics to optimize contact center costs with self-service, process improvement and deeper engagement. “Application leaders for customer service and support technology who are under pressure to cut costs should first use voice analytics to discover which types of inquiries could be automated or avoided, before addressing improvements in customer engagement via the phone or digital channel,” said Blood.
Voice analytics holds great promise, with Gartner predicting 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 voice analytics can provide a high-quality customer experience in a digital age, it isn’t the only use case for voice analytics. For example, voice analytics can also help organizations improve operational efficiency across the board.
Another report, by Deepgram and Opus Research, shows 77% of companies are using voice technology to identify new business opportunities, and 62% are using it to increase revenues. The use cases for voice technology are enormous and Israel-based voice analysis technology company, Nemesysco, wants to drive new frontiers in the industry.
Nemesysco is in the process of spinning off a new voice analytics company called Emotion Logic, which will use artificial intelligence (AI) to detect and measure human emotions and improve automated communications and interactions in metaverse worlds. While parent company, Nemesysco, uses its proprietary Layered Voice Analysis (LVA) technology to address different needs in the security, corporate and financial markets. Emotion Logic will focus on creating a natural, human experience in digital worlds.
How Nemesysco’s technology works
Amir Liberman, founder and CEO at Nemesysco, told VentureBeat that the company’s technology uses more than 150 unique bio-markers extracted from voices that researchers found to correlate with key human emotions. He said the company’s technology is designed to capture the genuine emotional state of a speaker and measure uncontrolled psychological and physiological changes to the voice during open conversations.
Liberman said excitement, enthusiasm, aggression, stress, fatigue and mental effort are just a few examples of the many emotions Nemesysco’s technology can detect and measure.
“What we aim to do with Emotion Logic is to take the insights obtained by our technology — together with the textual layer, metadata and any other input — and fuse them all into an AI engine that understands emotions and cannot only relate to what a person says, but also what the person really feels,” he said.
He said Emotion Logic will provide enterprises and their decision-makers with real and unfiltered data pertaining to their clients’ intentions and level of satisfaction from the monitored experience. In other instances, it will offer insights into employees and their needs within an organization.
Technology use cases
Nemesysco currently serves call centers with a wide range of functionalities from support (genuine sentiment analysis, agents churn detection) and sales (sales optimization) to debt collection, risk assessment and fraud detection. The company also supports work-from-home surveys, medical surveys, market research use cases and serves organizations with recruitment processes. Liberman also said Nemesysco offers both risk assessment and true personality assessment tests using semi-automated platforms, adding that one of the company’s larger clients recently installed an entire unit of internal investigations and audit.
While Liberman expects Nemesysco to grow more in the security side and continue to develop more friendly, intuitive and deeper reports and solutions for enterprises and governments, he said the future of Emotion Logic will be different. He said the spinoff of Emotion Logic from Nemesysco will also be a critical driver of growth in the coming months and ambitious milestones have been set for both companies to reach, particularly around a new generation of AI development.
“This company is about deep integration between emotion understanding and a new generation of AI that we have been conceptualizing for over 10 years now. Emotion Logic is AI-based and genuine emotion detection is just one of what the company will do,” he said. “Our ultimate purpose is to enable the creation of real human-like AI with the ability to perceive experiences as humans do.”
What Nemesysco is doing differently
Liberman said while the approach used by others in the industry analyzes prosody or textual layers to deduce sentiments, the approach with its LVA technology is different.
He said LVA is built on an understanding of the core of human emotions and how they appear in the voice. The company also focuses on the sub-phonetic components in the voice.
Liberman agreed there are several emotion detection engines on the market today, but noted they are all based on different approaches, like training an AI set with actors to identify how an angry person sounds or how a sad sentiment sounds. Other approaches, according to Liberman, try to understand emotions from the selected words. He said, at best, these approaches enable the AI to identify acted voices portraying different emotions and how to relate to selected choice of words.
“Our approach is different and our level of understanding of human emotions is far beyond what is typically discussed and second to none on the market today,” he said.
More on Emotion Logic
While Nemesysco currently has a headcount of 15, Liberman said he expects the number to double in six to 12 months. He said the company will recruit more expert developers and top managers as it begins its transition towards more meta world activities and direct relationships with customers with Emotion Logic.
While Nemesysco has been self-financed since inception, Emotion Logic will take a different approach. Emotion Logic is currently looking to raise $10 million to fund the development of the first product line and establish basic partnerships to propel the company’s future growth.
A major market opportunity Emotion Logic wants to go after is the emerging metaverse. Liberman said voice communication is likely to play a significant role in meta worlds, especially human-machine interactions in robotics, Web 3.0, metaverse, and emotion-sensitive service will be paramount.
“No one likes to speak with a robot who couldn’t care less about how you are feeling. Even today’s good robots are still annoying to listen to. Now, just imagine one of these robots trying to sell you something. It’s not going to happen without some level of embedded humanity that Emotion Logic is developing,” he said.
Emotion Logic is currently running in Nemesysco’s office and operated by Nemesysco’s staff, but this will change once the company secures its initial investment to hire dedicated developers and AI experts.
VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More