LivePerson, a leading provider of conversational commerce solutions, has teamed up with Cohere Technologies to enhance its chatbot capabilities with custom Large Language Models (LLMs). This collaboration hopes to revolutionize customer experience, allowing businesses to have a more personal and efficient connection with their customers.
Conversational AI technology has improved significantly in recent years, however traditional chatbots still struggle to understand natural human language and give appropriate responses. They rely on pre-programmed responses and scripts, which can make conversations feel robotic and unhelpful. However, with LLMs, chatbots can be trained to understand language nuances and respond more accurately to customer queries.
Cohere Technologies is an AI startup that specializes in creating custom LLMs for businesses. By partnering with Cohere, LivePerson can create chatbots that are tailored to individual business needs. These LLMs will be able to understand industry-specific language and provide more accurate responses to customers.
According to LivePerson founder and CEO Rob LoCascio "Expansive data models and precise data sets are what generate the greatest results with generative AI and LLMs. The new benchmark for leveraging AI to interact at the enterprise level will be set by combining Cohere's cutting-edge language models with our unmatched knowledge and data for customer engagement,”
This partnership is a significant step forward for conversational commerce. By enhancing chatbot capabilities, businesses can improve customer satisfaction, increase sales, and reduce operational costs. LLMs can be used to automate repetitive tasks, such as answering common customer queries, freeing up staff to focus on more complex issues.
LivePerson and Cohere are not the only companies investing in LLMs. As AI technology continues to evolve, more businesses are exploring the benefits of custom LLMs. Undoubtedly, the next few years will see a rise in the use of chatbots that are well-equipped to deliver personalized and precise answers to customers. This can eventually increase customer satisfaction and loyalty towards a brand.
In conclusion, the partnership between LivePerson and Cohere is an exciting development for conversational commerce. By leveraging the power of custom LLMs, businesses can improve customer interactions and achieve better business outcomes. AI technology is progressing rapidly, and investing in it is becoming a must for businesses to stay competitive. Companies are actively turning to it to gain an upper hand in the market.
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