Troubleshooting is part of the daily life of almost all technology companies. It's a big market too; according to IBM, $1.3 trillion per year is spent on support calls, and Accenture estimates that over $1.6 trillion a year is lost by companies due to poor customer support. But the market is still dominated by the traditional approach of having human teams on hand to fix customers' issues.
Mavenoid wants to address this. Its product, which applies machine-learning and a chatbot-style UI to deliver ongoing automated tech support, aims to disrupt the traditional approach to customer service. The idea, put simply, is to empower customers to solve problems for themselves so that only the more edge cases need to be redirected to human customer support teams. Whilst making the customer experience better, then, Mavenoid also saves businesses money on unnecessary troubleshooting tasks.
More and more websites are embracing some form of automated customer service. For example, when browsing the internet, users are often greeted by chatbots offering some form of assistance. A key challenge for Mavenoid, then, will be ensuring that its product stands out against this background of readily available AI assistants. However, unlike generic chatbots, Mavenoid claims to be able to handle the entire span of support requests, not just troubleshooting, but also setting up, configuring, using, maintaining, and providing other guidance for products.
Mavenoid is not alone in this market. It faces stiff competition from the likes of IBM's 'Watson Assistant' and Zendesk's support software. However, backed by significant funding, it is well set to continue strengthening its product and carve out an even bigger market share.
Steph
Company Specialist at Welcome to the Jungle
