1 February 2023

Meet ElevateAI by NICE: The lowest cost contact center transcription API

Meet ElevateAI by NICE: The lowest-cost API to transcribe and understand contact center interactions

If you’re a contact center looking for an affordable, reliable, and accurate speech-to-text transcription service, look no further than ElevateAI. In 2022, NICE, the worldwide leader in AI-powered self-service and agent-assisted CX software, launched ElevateAI to make every CX application smarter. ElevateAI provides on-demand access to NICE’s unrivaled CX data and AI via developer-friendly APIs specifically designed for the needs of contact centers.

What does ElevateAI offer?

From the start, ElevateAI offers two primary AI services:

  • Transcription. ElevateAI is an accurate voice transcription service, highly specialized in the conversational format of customer service interactions.
  • AI purpose-built for CX. ElevateAI helps improve CX with pre-built models that understand sentiment, behavior, and interactions between customers and employees.

Why did NICE launch ElevateAI?

NICE is expanding its AI and Analytics leadership beyond the software market to encompass AI services. It can now provide organizations with direct access to its unrivaled data and pre-built AI models, to support their efforts to build their own custom applications. This expanded access also allows NICE customers, and ElevateAI users, instant access to over twenty years of analytics innovation, billions of analyzed interactions, and pre-built AI models developed by NICE.

Millions of users trust NICE’s innovative AI-driven solutions, from startups to the world’s largest brands, so increasing the market reach and enabling everyone — builder or buyer — to elevate their CX was an easy decision.

What makes ElevateAI unique?

Typically, AI services train their models on readily available or scrapable “internet data,” such as web pages, social media posts, product reviews, articles, and other written materials on the world wide web. Since customer service interactions are privately saved and not publicly available, these generic models have a minimal, arguably insufficient, training set to be accurate for CX purposes.

On the other hand, as a part of NICE, ElevateAI has specialized access to the largest customer service datasets in the world. These CX datasets include billions of conversations and outcomes between a diverse range of consumers and brands worldwide happening across all channels, including voice and text.

So, what does this provide our users? Here are some of the key advantages of ElevateAI:

  • Lowest-cost API for CX. NICE has more than 20 years of experience researching and developing technology in the contact center. They provide services for over 25k organizations in more than 150 countries. The result is highly optimized technology and rich data access, allowing it to process interactions efficiently and offer ElevateAI services at less than 50% of our competitors’ prices.
  • Conversational Expertise = Accuracy. Conversations can be particularly difficult for machine transcriptions since they aren’t scripted. They involve multiple speakers talking back and forth, sometimes in sporadic bursts. Topics can be diverse and branch off quickly into unexpected directions. It can be challenging to follow, even for human transcriptionists. Given ElevateAI’s pedigree, conversational voice data is its cornerstone. With conversational audio, ElevateAI routinely scores above 90% accuracy with less than 10% WER (Word Error Rate).
  • Behavioral Analytics Experience. To nurture delighted customers and positive experiences for your business, you need to understand customers the way we do. We know behavior better than anyone else because of our experience, data, and success in helping premier brands worldwide. Successful and lasting change builds from behavioral change, and that’s why NICE’s unique behavioral analysis of CX is essential. This is distinct from a merely transactional approach to research and analysis. We’re not just interested in what happened but also in why it happened. What behaviors drove the outcome, positive or negative?
  • Free for Life. Yes, you read that right! As part of our mission to make every CX application smarter, we offer access to transcription and CX AI free for life in our base package. This offer includes up to 100 interactions per month, up to ~200 hours every month, with zero commitment and no credit card required. Learn more about the most cost-effective, pay-as-you-go pricing on our pricing page.

ElevateAI is defining a higher standard for CX development. Read more about our advantages in our eBook, Defying limits and redefining CX in a single API.

How are CX Teams using ElevateAI?

An easy-to-use API enables organizations of all sizes to understand interactions at scale with automated speech recognition (ASR) technology trained on billions of interactions from the most comprehensive CX dataset. ElevateAI allows the industry to gain customer and employee insights across audio, transcripts, and chats to build innovative CX applications that improve business results.

Here are some of the more popular use cases for speech-to-text in the contact center:

  • Improve Customer Service. Better understand customer needs and pain points, using these insights to improve the customer experience.
  • Increase Sales Effectiveness. Learn what works and what doesn’t when it comes to sales techniques or messaging and make improvements accordingly.
  • Streamline Quality and Reduce Performance Variability. Identify areas of variability across employees, contact reason, and process and use this information to train and coach employees.
  • Compliance. Ensure compliance with regulations, particularly in regulated industries such as financial services or healthcare, while satisfying internal standards.
  • Customer Feedback. Gather unsolicited feedback and identify areas for improvement in products or services.
  • Reporting and Analytics. Perform deeper analytics on interactions and derive new information, which can be used to identify trends and patterns in customer interactions.
  • Knowledge Management. Create a searchable database of customer interactions and use this information to expand knowledge resources and increase the ability for customers to self-serve.
  • Digital Transformation. Catalog the reasons customers must interact with a customer service representative, along with other metrics like volume and sentiment, to prioritize self-service investment opportunities.

What’s Next?

Our mission is to make every CX application smarter. We want developers, builders, and product owners to use our AI services to drive business growth. We believe that by using the power of AI, we can help brands better understand and meet the needs of their customers while saving valuable time and money. We supply innovative and effective solutions that drive real results for our users and help their businesses stay ahead of the competition in today’s rapidly evolving market.

Here are a few of the big-ticket items on our roadmap:

  • Language Expansion. We know that good CX has no boundaries, so we’re focusing on releasing a complete set of languages. In fact, NICE currently translates more than 30 in-demand languages across its portfolio and we are confident that we’ll soon be able to deliver expanded language services to the international market.
  • Auto Summarization. Time is our most valuable asset. Today, customer service agents spend too much time taking manual notes after every interaction. In the near-term, ElevateAI will be able to automatically summarize 100% of interactions, including capturing the contact reason, outcome, and key activities to eliminate agent notetaking.
  • Sales Effectiveness. Growing revenues is mission critical for any business, and there are tons of ways organizations analyze sales teams, pipelines, and marketing campaigns to optimize and find an edge. But despite this data-driven approach, the behavioral angle is often missing. It’s because behavioral metrics like identifying needs or handling objections are difficult to objectively measure at scale. We’re solving this problem by training AI from the top-performing sales reps across a diverse range of industries to identify the key sales behaviors that close more deals and increase deal size.
  • Real-Time. We realize that certain use cases demand real-time or near real-time processing and turnaround, and we’ll be rolling out this capability while keeping our pricing super competitive in the near future.

We know we can deliver value today with the most cost-effective transcription available. Plus, we have a growing portfolio of pre-built CX AI models, and we’re excited about the constant innovation we have on tap.

Elevate Your CX

The power of NICE’s highly polished, field-tested AI is waiting for you with ElevateAI. Sign up for a free account to get your API key today and unlock the potential for a deeper understanding of your customers, your agents, and your complete CX.

Sign up for a free account at https://www.elevateai.com/getstarted

Neeraj Verma

Neeraj has extensive experience in the enterprise software space, having joined speech technology pioneer Nexidia straight out of college and spent his career in technology and customer experience. He transitioned to NICE with their 2016 acquisition of Nexidia and currently serves as the Vice President of Artificial Intelligence (AI), leading ElevateAI by NICE.