Teleperformance, a French outsourcing group, announced on Tuesday that it has entered into a $185 million (approximately Rs. 697 crore) agreement with Microsoft to introduce its own TP GenAI. This development comes just before Teleperformance’s artificial intelligence investor day.
As part of its AI initiatives, Teleperformance will be conducting a virtual meeting on Wednesday, allowing investors to gain insight into its advancements in the field of artificial intelligence.
Teleperformance asserts that the implementation of generative AI, which encompasses algorithms like ChatGPT that facilitate the creation of new content such as text, audio, and simulations, will enhance efficiency, accuracy, and overall customer experience.
Teleperformance, a global company with a workforce of 410,000 employees across 170 countries, offers a range of services to its clients. These services include hosting conference calls, managing pay and salary accounts, and providing automated translations. The company’s extensive reach and diverse workforce enable it to cater to the needs of clients worldwide.
Teleperformance has highlighted the potential benefits of TP GenAI, developed in collaboration with Microsoft‘s Azure OpenAI. The company stated that TP GenAI will play a role in automating simple and low-value tasks, allowing their staff to concentrate on more significant matters. Additionally, Teleperformance mentioned that some of their existing AI tools already utilize Azure technology.
According to the company’s statement, a pilot program of TP GenAI has yielded promising results. These include a 25 percent reduction in call handling time, a 20 percent decrease in email response times, a 90 percent improvement in accurately addressing customer needs, a 35 percent increase in sales conversions, and near real-time insights into customer interactions. These statistics showcase the potential of TP GenAI to enhance efficiency, improve customer service, and provide valuable insights for Teleperformance.
In response to the evolving landscape of the call center industry driven by digital advancements, Teleperformance has made organizational changes by appointing Bhupender Singh, the President of Transformation, as the Deputy Chief Executive on Monday.
This strategic move comes after Teleperformance’s announcement in April regarding its acquisition of rival company Majorel for EUR 3 billion (approximately Rs. 26 crore). The acquisition positions Teleperformance as a key player in the industry, with an anticipated annual revenue of EUR 12 billion (roughly Rs. 1,07,514 crore).
Furthermore, Teleperformance has expressed its expectation that within the next three years, approximately 20 percent to 30 percent of its processes will be automated. This highlights the company’s proactive approach towards embracing automation technologies to enhance operational efficiency and adapt to industry changes.