- China’s cloud market is experiencing tremendous growth on the back of companies shifting to and investing in cloud-based infrastructure
- These companies are looking for reduced costs and increased revenue, as well as improved customer service and satisfaction
- Infobird’s next-generation customer engagement software offers many benefits, including increased customer interaction efficiency at a reduced cost
A Forbes article on how artificial intelligence (“AI”) will impact the future of work and life observes that AI is becoming standard in all sectors. 90% of leading companies have invested in AI technologies, half of which have already reported greater productivity due to their investment (https://ibn.fm/cvnXf).
Notably, AI applications and benefits are across the board, as Infobird (NASDAQ: IFBD), a leading Software-as-a-Service (SaaS) company in China, observed in a 2020 article published on its website (https://ibn.fm/1pJYO). Infobird, which provides AI-enabled end-to-end consumer engagement solutions in the Chinese market, noted that by 2025, 95% of customer interactions would be driven by AI, from online Q&As to telephone services. So advanced will the AI tools be, the article says, that users will be unable to distinguish between a robot and a real person.
But getting to this point is a gradual process that has already begun and whose cradle, particularly within the customer-engagement segment in China, can be traced to the growth of the cloud market in the country. Here, cloud infrastructure spending grew from about $107 billion in 2019 to $142 billion in 2020 (https://ibn.fm/u5XPX), marking a near 33% year-over-year increase.
Driven by the increased acceptance of cloud and SaaS solutions and the long-term structural trends in the digitization of China’s economy, the shift to cloud-based infrastructure by companies has indeed gained traction. It has even triggered a domino effect that has seen even more companies adopt these solutions as they look to cut costs and increase revenue while still offering improved customer service and satisfaction.
Moreover, it has fused SaaS and customer engagement, leading to the emergence of proactive AI-powered SaaS solutions, i.e., the next generation of SaaS, to replace traditional efforts. Infobird is at the vanguard of this transformation (https://ibn.fm/rIxBP).
IFBD is the only SaaS company in China that owns and deploys cloud-native architecture in customer engagement that can harness the full power offered by cloud computing, including the ability to scale up capabilities flexibly. Furthermore, its cloud-based approach to customer engagement means that its platform can support potentially unlimited concurrence of agents with high failure tolerance.
Having already embraced AI, as detailed in its 2020 article, Infobird has self-developed and patented AI technologies, such as its innovative no-code development platform and its natural language processing (“NLP”) tool. These products have seen it offer customer engagement services, call center expertise and customer relationship management (“CRM”) to some of the largest enterprises in China, including one of the largest commercial banks in the country – as well as a well-known e-commerce giant, qualifying it as one of only a handful of SaaS companies to accomplish this.
The reliance on AI, which is attributed to the company’s focus on innovation, has differentiated IFBD’s customer engagement solutions from the traditional CRM tools and products from companies like Zendesk Inc. (NYSE: ZEN).
While the traditional CRM systems only passively track, monitor and analyze sales activities, Infobird’s software combines AI-enabled customer engagement and AI-powered sales force management, resulting in a more robust and intuitive platform that can be described as the “next-generation CRM.” It is also more proactive and uses a wide gamut of applications, such as AI chatbots, omnichannel communication tools and intelligent quality inspection, to continuously engage customers.
With this approach, Infobird aims to help its clients grow their interaction efficiency with their end customers at a low cost. It is also keen on capturing market share as it transitions to standardized module SaaS (https://ibn.fm/HL3Ni).
For more information, visit the company’s website at www.Infobird.com/en/index.html
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD
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