TL;DR:
- Freshworks introduces generative AI enhancements across its product lines.
- Freddy AI suite offers AI-powered CRM solutions for sales insights and predictions.
- New AI capabilities streamline tasks and simplify work processes.
- Freddy Copilot enables workflow optimization through conversational prompts.
- Freddy Self Service allows large-scale personalized automation for businesses.
- The insights module utilizes advanced analytics to identify areas for improvement.
- Freshworks prioritizes privacy and security with Microsoft Azure integration.
- Continued innovation aligns with an industry focus on generative AI.
- Market leaders show increased investment and exploration of generative AI.
- Freshworks’ AI advancements empower organizations to boost workplace efficiency.
Main AI News:
In a bid to transform workplace productivity, Freshworks, a leading software-as-a-service (SaaS) firm, has unveiled groundbreaking generative artificial intelligence (AI) enhancements across its product lines. Leveraging its deep domain expertise in sales, marketing, customer support, and IT, the company has introduced cutting-edge advancements within its Freddy AI suite. This suite, consisting of Copilot, Self Service, and Insights, offers AI-powered CRM solutions that provide actionable sales insights and predictions. By harnessing the power of generative AI, Freshworks aims to empower support agents, sellers, marketers, IT teams, and leaders to optimize their work processes and drive greater efficiency.
These new AI capabilities not only streamline tasks but also revolutionize work processes by eliminating time-consuming activities. Freshworks understands the needs of its diverse customer base and is committed to democratizing the power of generative AI. Girish Mathrubootham, Founder and CEO of Freshworks, emphasizes this mission, stating, “Our goal at Freshworks is to put the power of generative AI in the hands of the Fortune five million, not just the Fortune 500 enterprise. We’ve been helping customers run more efficient businesses with AI for half a decade and know they don’t need a billion apps to do so.“
Freshworks unveiled its latest addition, Freddy Copilot, during the Developer Summit held in Bengaluru. Designed to cater to developers, as well as support, sales, and marketing professionals, this innovative tool enables users to streamline workflows by leveraging conversational prompts within Freshworks products. Moreover, it empowers them to build new applications that extend the functionality of the suite. Early deployments of Freddy Copilot have yielded remarkable results, with 390 companies adopting the tool and experiencing up to an 83% reduction in effort.
Another key component of the Freddy AI suite is Freddy Self Service, which enables companies to achieve large-scale personalized automation. By leveraging the Freshworks platform and a powerful language model (LLM), businesses can enhance agent productivity and enable customer support and IT personnel to focus on high-value projects. Furthermore, Freshworks introduces Insights, a cutting-edge AI-powered module that utilizes advanced analytics to analyze support data and identify areas for improvement. It also evaluates marketing and sales effectiveness, providing optimization recommendations to drive growth.
Freshworks is committed to safeguarding customer data within its ecosystem. To ensure the privacy and security of customer data, the company has integrated Microsoft Azure OpenAI Service into its Freddy AI solutions. John Montgomery, Corporate Vice President of Azure AI Platform at Microsoft, highlights the collaboration, stating, “Microsoft and Freshworks are working together to bring the power of generative AI with enterprise-level security and compliance into the workplace for companies of all sizes.”
Since the launch of Freddy, an Omnibot AI engine, in 2018, Freshworks has continued to enhance its offerings by building proprietary language models and incorporating general-purpose LLMs to address customer-specific needs. This commitment to innovation aligns with the industry’s growing focus on generative AI. Notably, Freshworks’ announcement follows closely on the heels of SaaS provider Zoho’s plans to develop an LLM for generative AI applications, further highlighting the industry’s recognition of the immense potential of this technology.
According to a recent Gartner poll involving over 2,500 executive leaders, the visibility of ChatGPT, which is based on the proprietary Generative Pre-trained Transformer series of large language models, has inspired 45% of respondents to increase their investments in AI. The poll also reveals that 70% of executives are actively exploring generative AI, with 19% already progressing to the pilot or production stages. Prakash Ramamurthy, Chief Product Officer at Freshworks, acknowledges the transformative power of generative AI, stating, “Freshworks has a unique opportunity to bring greater productivity and proactive insights to businesses of all sizes and help our customers turn generative AI into business momentum.”
Freshworks’ AI advancements are currently available for beta testing and will be showcased for the first time at its highly anticipated Q2 ’23 launch event. By harnessing the power of generative AI, Freshworks is poised to redefine workplace efficiency and empower organizations of all sizes to unlock their full potential.
Conclusion:
Freshworks’ unveiling of groundbreaking generative AI enhancements signifies a significant development in the market. By leveraging AI-powered CRM solutions and advanced analytics, Freshworks aims to revolutionize workplace efficiency for businesses of all sizes. The integration of Microsoft Azure ensures the privacy and security of customer data, while the company’s commitment to innovation reflects the industry’s growing interest in generative AI. With market leaders increasing their investments and exploring the potential of this technology, Freshworks’ AI advancements position the company at the forefront of empowering organizations to optimize their workflows and drive productivity.
