In its constant quest to improve the user experience, ABB is investing in the Stockholm-based start-up Mavenoid. The support platform uses innovative artificial intelligence (AI) and machine learning (ML) to resolve customer queries with high success rates.
Mavenoid’s breakthrough technology is designed to reduce the need for human intervention in such requests and improve user satisfaction. The technology leverages data sources from manuals, product documentation, and online communities to train its advanced ML and AI engines to resolve recurring support requests.
ABB and Mavenoid have been successfully working together for almost two years. Since then, the start-up has continued to develop its technology to meet the increasingly complex needs of users. Mavenoid aims to solve 30% of self-service issues by working with smart home partners and customers to provide automated support through the existing ABB app. After a period of 12 months, 60% of all cases could already be resolved using the technology used. Despite the overall increase in support cases, the AI-based tool has significantly reduced the number of cases in the ABB help desk.
The self-service and live support platform is already used in some markets with smart home solutions such as Busch-free@home® or Busch-Welcome® used and includes automation, workflow, escalation, and product feedback. ABB’s investment in Mavenoid underscores ABB’s vision to improve the comfort and efficiency of building technology for occupants, while enhancing the customer experience through the benefits of strong partnerships.
This cooperation not only enables customers and installers to more efficiently manage products and systems in the areas of home automation, door communication and energy measurement, but also provides ABB with valuable feedback. user information. The data collected helps ABB to develop better solutions faster as requirements change and to expand collaboration with installers. The ability to offer technical product support based on Mavenoid’s powerful and easy-to-use artificial intelligence engine gives ABB a strong competitive advantage.
For Mavenoid, this Series B funding round, led by Smedvig Capital, totals $30 million.
Further information : [https://www.youtube.com/watch?v=-1tTBBdcbxs]
mavenoid
Founded in Stockholm in 2017, Mavenoid is the world’s leading product support platform for hardware and consumer electronics brands. Unlike generic support platforms/chatbots, Mavenoid’s purpose-built technology and AI enable hardware companies to efficiently resolve customer issues through automation and remote assistance, which saves them time, effort and money. Mavenoid is backed by leading investors such as Smedvig Capital and Creandum and operates globally including the US, UK, EU and Canada. For more information about Mavenoid, visit mavenoid.com.
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ABB invests in Mavenoid for AI-based remote product support, ABB Stotz-Kontakt GmbH, press release
- Machine learning and artificial intelligence have been proven to improve success rates in the support process and increase customer satisfaction
- Installers can offer their customers a wider range of services and benefit from reduced process complexity and lower costs
- Proven application with smart home products, user feedback drives future product developments