Project description
A data-driven AI software for mobile telecommunications
European mobile operators today have to deal with high churn rates, lower average revenue per unit and increased marketing costs to reach new customers. Advanced churn prediction models are used by several operators, but they require specialised tools to efficiently engage with millions of customers and increase customer satisfaction and loyalty. The EU-funded WAI project is supporting Sweden-based Wiraya Solutions in developing cost-efficient managed software that orchestrates and delivers personalised communication allowing dialogues with large customer bases combining voice and text to mimic human communication. The new data-driven AI software will be able to learn and adapt the time and mode of communication with each individual, providing customers with increased support services through a mobile device.
Objective
European mobile telecom operators struggle with low customer satisfaction and loyalty in highly competitive markets resulting in high churn (an average mobile operator churn of 14% means that an operator with 5m customers loses 700,000 customers each year), lower ARPU and a high marketing spend to win new customers. Many operators use advanced churn prediction models today but have not yet found an effective way to leverage on this knowledge at large scale. They now demand tools to efficiently engage with millions of customers on a personal level and thereby increase customer satisfaction and loyalty.
Our managed software cost-efficiently orchestrates and delivers personalized communication enabling dialogues with large customer bases using a blend of voice and text to mimic a human communication. Today, we optimize the communication manually based on our team’s experience, but will now take our product to be automatically data-driven utilizing AI (WAI). Based on previous and real-time interactions WAI learns and adapts what, when and how to communicate with each individual, helping customers to change price plan, order new handset, renew service or get support through a mobile device. Initial tests prove five times higher conversion, and optimize customer lifetime value at a scale that is not possible manually.
Wiraya was established in 2008, employs 40 in Stockholm (HQ) and London, and revenue grew by 83% to €3m in 2016. We have worked with Northern Europe’s largest telecom operators for years, and presented WAI to their top management with very positive response, resulting in LoI:s with 3 leading test partner operators. We have a window of opportunity to gain market shares ahead of competition, and will in 2022 have +€45m in revenue and employ +150 people. Our cutting-edge AI technology and expertise is transferable across EU and strengthens EU’s innovation climate and global AI competitiveness, not only within telecom, but also within other verticals.
Fields of science
Programme(s)
Funding Scheme
SME-2 - SME instrument phase 2Coordinator
114 35 STOCKHOLM
Sweden
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.