Nokia Oyj (ADR) (NYSE:NOK) has announced that it recently boosted machine learning software with improved intelligence that is designed to enhance digital customer care.
Nokia’s latest upgrade to its machine learning software is expected to boost intelligence and this will in turn help customers to improve their digital customer care services. It was thus designed to help in the delivery of more value to subscribers through improved business processes. The company’s new portfolio of services include the Nokia Cognitive Analytics for Crowd Insight software, Nokia Analytics Office Services suite and Nokia Autonomous Customer Care. Each of the offerings targets high growth sectors of the software and services markets.
“As the next step in our strategy to build a standalone software organization at scale, we are making major investments in our software and service capabilities that will help customers build strong digital businesses,” stated Bhaskar Gorti, the head of Applications & Analytics at Nokia.
Nokia’s main agenda
Gorti also stated that the Nokia’s main agenda with the new machine learning capabilities is to help businesses solve customer service calls by solving the problem before it gets to that point. He also added that the company has designed the software such that it will help service providers to better understand customer needs.
The company understands that the customer interaction market is the fastest growing customer care segment and that is why it is targeted by the Nokia autonomous customer care software. The latter depends on the firm’s vast understanding of deep digital network and service. It contains interactive care bots that are equipped with Nokia’s machine learning algorithms and natural language processing capabilities.
The company claims that the Nokia Autonomous Customer Care software is capable of predicting and solving as much as 70% of the residential issues that cause service disruption. It is designed to solve such issues even before the subscriber is aware of a problem. This makes it an attractive offering to businesses that operate customer care units.
Nokia stock closed the latest trading session on Monday at $6.21 after climbing by 0.65 percent from the value of the stock during the previous close.