NEWS24 July 2023

Qualtrics to invest $500m in AI

AI New business News North America

US – Experience management firm Qualtrics is to spend $500m on artificial intelligence (AI) over the next four years and has launched a new AI-driven version of its Qualtrics platform.


The updated platform, called XM/os2, uses generative AI and Qualtrics’ AI tools, as well as the company’s human sentiment database, to deliver recommendations for products for users.

At the core of Qualtrics XM/os2 are three interconnected services – Experience ID, IQ, and xFlow – that have been upgraded with AI to help companies create customer profiles and analyse feedback data.

New generative AI additions to the platform include improvements to Qualtrics FrontlineXM make support agents more productive and help them resolve customer issues faster and with more empathy.

Real-Time Agent Assist now uses AI to summarise information gathered during a service conversation, providing the agent with prescriptive steps to solve problem based on each caller’s needs, emotions and history with a company.

New generative AI capabilities in Qualtrics Automated Call Summaries automatically summarise calls and enable agents to instantly generate support tickets, send personalised follow-up emails and create articles using real-time information about customer issues and historical customer data.

Qualtrics XM for People Teams will capture structured employee feedback from engagement surveys, as well as unstructured feedback from public sources, with generative AI used to summarise employee feedback and behaviour data.

Additionally, predictive AI capabilities in XM for People Teams will analyse behaviour data to identify teams with a high risk of attrition over the next six months and the most likely reasons employees might leave.

The upgrades will be released over the next year, with some available immediately.

Qualtrics was recently acquired by private equity firm Silver Lake and Canada Pension Plan Investment Board in a $12.5bn deal, and has also secured $1bn new investment from Accel, BDT & MSD Partners, and DFO Management.

Zig Serafin, chief executive at Qualtrics, said: “AI’s ability to understand human emotion and continuously learn from experiences has the potential to make business more human, not less.

“XM/os2 brings the power of AI to every part of the Qualtrics platform, giving our customers entirely new ways to personalise experiences at scale and build deeper, more meaningful relationships with their customers and employees.”