Verint strengthens AI capabilities and partnership network

Verint has recently expanded its capabilities in the field of Artificial Intelligence (AI) through the acquisition of a start-up. The young company, which possesses promising AI technology, has been seamlessly integrated into Verint's platform. Although the start-up's customer base is small with around ten companies, Verint was already able to record revenue of about one million dollars in the third quarter and expects a revenue potential of several million dollars in the fourth quarter. AI is also playing an increasingly significant role in Verint's contact centers. The introduction of AI allows customers to enhance their agents' capacities. While some companies are reducing their workforce, others deploy their agents for more intensive customer relationships. The nearly four million agents using Verint's software generate annual revenue of $200 per agent. Interestingly, customers invest $1,200 per bot to replace agents, representing a significant growth opportunity for Verint. The initial euphoria around AI led to a certain hesitancy among customers, but as understanding of real business benefits grows, companies increasingly feel the urge to invest in AI. Verint's hybrid-cloud model facilitates the integration of AI into existing systems, accelerating adoption. As part of a new partnership with RingCentral, cloud-to-cloud integration is being offered to make Verint's capabilities available to their customers. Although the contribution is expected to be small in the fourth quarter, Verint sees it as an important growth driver for the coming year. This integration offers customers seamless access to communication infrastructures and AI-powered business solutions.