Teleperformance signs $185 million deal with Microsoft to launch GenAI tool
Technology
Teleperformance signs $185 million deal with Microsoft to launch GenAI tool
(Reuters) - France's Teleperformance (TEPRF.PA) signed a $185 million deal with Microsoft (MSFT.O) to launch its proprietary TP GenAI, the outsourcing group said on Tuesday, ahead of its artificial intelligence investor day.
Teleperformance SE will host on Wednesday a virtual meeting with its AI experts to let investors peek behind the curtains of its efforts in the AI race.
The company claims generative AI - algorithms such as ChatGPT that can be used to create new content including audio, text and simulations - will boost efficiency, accuracy and customer experience.
Teleperformance, which employs 410,000 staff in 170 countries, hosts conference calls, maintains pay and salary accounts, and provides automated translations to clients.
Using Microsoft Corp's Azure OpenAI, TP GenAI will "help automate simple, low-value tasks and enable our staff to focus on what matters most," the firm said in a statement, adding that some of its existing AI-powered tools are already based on Azure technology.
It said that a pilot of TP GenAI has seen up to a 25% reduction in call handling time, a 20% reduction in email response times, a 90% improvement in accurately addressing customer needs, a 35% increase in sales conversions, and near real-time insights on customer interactions.
As digital developments are rapidly changing the call centre industry, Teleperformance appointed on Monday its president of transformation Bhupender Singh as deputy chief executive.
This follows the agreement to buy rival Majorel (MAJ.AS) for 3 billion euros ($3.27 billion) in April, which will make it the sector's top actor with annual revenue of 12 billion euros.
Teleperformance said at the time that it predicts that 20% to 30% of its processes will be automated within the next three years.
