We Aim 1 Billion Conversations
As Turkey’s leading AI company in end-to-end customer service automation, we won 13 important awards with the technology we developed and the virtual assistant projects we created. As a company that provides AI-based customer service transformation for big banks, insurance companies, e-commerce giants, ministries and holdings in Turkey, we are focusing more on foreign markets to increase technology exports this year, in addition to the projects we carry out in our country. Our CEO Mete Aktaş said, “We are developing high-level technology in global competition with the competencies of Turkish engineers. In this direction, we are the preferred partner for the leading institutions in the Turkish market. We have previously carried out outstanding projects in the global arena. While we are multiplying our growth in Turkey in 2022, we aim to grow more abroad by creating new success stories with the strong business partnerships we have established in the EMEA regions and to make 1 billion conversations with our virtual assistants.
As Turkey’s leading AI company in end-to-end customer service automation, we continue to undertake important projects both in the public and private sectors in Turkey and abroad. We create value with our artificial AI assistants in many areas from retail to automotive, from banking to public. While we continued to grow last year, we won 13 important awards with our technology, our product CBOT Platform, an end-to-end customer service automation platform, and successful projects we created. By 2021, we have consolidated our market leadership in Turkey by adding many valuable companies and institutions to our business partners portfolio. In 2022, we aim to accelerate growth in the global market with the multi-language virtual assistants that we build.
Conversational AI market will reach $32.6 billion in 2030
According to Gartner, the number of companies working on virtual assistants, which was 1500 before the pandemic, has exceeded 2000 as of 2022. According to Gartner, it is predicted that more than 60 percent of customer service will be provided through digital and self-service channels by 2023. The conversational AI market size, which was $6.8 billion worldwide in 2021, is expected to reach $18.4 billion by 2026 and $32.6 billion by 2030. Gartner’s research also shows that only 5 percent of companies working on virtual assistants in the world can successfully implement enterprise-level projects. In this regard, we have an important place in the global success lists, and we received 700 million messages in 2021 with an almost 100% growth compared to the previous year. We have targeted Europe and the Middle East and aim to grow in these regions with our virtual assistants serving in many different languages in 2022.
Our virtual assistants can serve in multiple languages
We continue to expand our language range with the cooperation we have made with Getir, which provides services in 81 provinces of Turkey and 8 countries, and with our other business partners abroad. In 2021, we started to offer services in many European languages, and added Russian, Serbian and Albanian to these languages. Last year, thanks to our successful multilingual virtual assistant for an international assistance company operating in Turkey, the Middle East and the CIS region, customers benefit from CBOT solutions in English and Russian for PCR testing and health insurance reporting processes. The virtual assistant we created for an electricity distribution company operating in Eastern Europe also supports customer services in English, Serbian and Albanian.
We reduced issue resolution times by 7.5 times, call handling costs by 5 times
With the ongoing digitalization as the pandemic continues, we received a record 700 million messages in 2021. We want to increase this score to 1 billion in the new year. Our CEO, Mete Aktaş, explains the situation in the market as follows; “The public, retail and banking sectors create most of the demand for virtual assistants. Although we observe an increase in demand for virtual assistants that support employees in IT and HR areas, especially on the side of large institutions, with the remote working that has entered our lives with the pandemic, a very large part of our projects aim the automation of customer services in both written and voice channels. Looking at all projects, I would like to share some of the reasons why CBOT is preferred, with real data. Our company has ensured that up to 80 percent of customer inquiries are resolved without transferring them to live agents. We’ve reduced issue resolution times by 7.5 times, reduced waiting times to connect to live agents from 200 seconds to 15 seconds, and reduced call handling costs by 5 times on average.”
We will continue to grow with global collaborations and R&D investments
Reminding that CBOT became the Business Solution Provider (BSP) of WhatsApp, our CEO Mete Aktaş said, “Within our perspective and vision, CBOT continues to build collaborations with companies that lead technology in the world. As we are WhatsApp’s leading Business Solution Provider (BSP) in Turkey and globally, countless companies perform their account activations with CBOT and customer service and sales are provided for more than 2 billion users by this way. After activation, customers can manage all their messages with CBOT Live Chat. If they want, they can provide service via WhatsApp 24/7 by activating ready-to-use sales and support virtual assistants integrated with their own systems such as CRM and e-commerce. This shortens long waiting times for users, and enables businesses to better manage their costs and improve customer service. In this field, we have a high growth target in both large institutions and small and medium-sized enterprises.”
CBOT is now an end-to-end customer service automation platform
An integrated structure can now be built with the voice and text AI modules in the CBOT Platform. Our CEO, Mete Aktaş, stated that this integrated, holistic automation system will play a more effective role in institutions and continues his explanation as follows: “Virtual assistants integrated into the written channels of the institutions and the voice assistants integrated into the IVR systems both facilitate the customer experience and diminishes the operational costs for the company through with call automation. With this perspective, thanks to our significant R&D investments, CBOT has now become an end-to-end customer service automation platform. We continue to add new features and technological competencies to this integrated structure of CBOT. We provide automation for all calls, including written channels and voice response systems (IVR) in call centres. A customer trying to reach the call centre through any channel is greeted with CBOT’s AI technology. Then, similar to the experience when talking or texting with a live person, AI automatically answers and ends calls. Thus, human + AI solutions are positioned in the customer service operations, making this service more efficient and effective.“
We reinforced our success with awards
We closed last year with 13 global and national awards such as Fast Company “Most Innovative Companies”, Fast Company “Women Founders 100”, IDC “Future of Digital Innovation Award”, Fast Company “Digital 100”, “Silver Stevie” for Software Companies – Company of the Year, Globee CEO World Awards “Startup of the Year”, Benzinga Awards “Best New Product” finalist, 4th CX Awards Turkey “Thinking Big” Award in the “Digital Customer Experience” and “Best Use of Technology” categories. Looking at the award-winning projects; EBA Assistant, which was carried out with the Ministry of National Education in the first months of the pandemic, attracts attention. This important project brought us the “Best AI Product in Government” by UK-based CogX and the “Best AI-Based Solution for Education” Awards at the AI Breakthrough Awards organised by a global research company, Tech Breakthrough.
In addition to the awards, we were one of Google’s top 20 RCS (Enriched Message Service) partners in the world in 2019, we were featured among the 16 leading virtual assistant companies in the world by Gartner in 2020, and we became a WhatsApp Business Solution Provider in 2021.