Ramp’s acquisition of Cohere.io signals the rise of Generative Artificial Intelligence in Customer Support
Ramp, a finance automation platform, has acquired Cohere.io – a customer support platform powered by AI. Ramp has made its first entry into the world generative AI. This acquisition is a testament to the importance of generative AI in the finance sector. This is also a significant milestone for Ramp, as it is the company’s second acquisition since its inception in 2019 and the first since it purchased Buyer, a \”negotiation-as-a-service\” platform, in August of 2021.
Ramp, a Fintech company, specializes in cost management and corporate credit cards. The company was established in 2019 by Eric Glyman Gene Lee and Karim Aiyeh.
Generated AI will also lead to innovations in customer service. For instance, generative AI can be used to create chatbots capable of natural conversations with clients. This could allow businesses to provide 24/7 customer service while reducing costs.
The potential for Generative AI to revolutionize customer service is enormous. Ramp’s acquisition of Cohere.io indicates that the revolution has already begun.
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Source:
https://www.forbes.com/sites/janakirammsv/2023/06/27/ramps-acquisition-of-cohereio-signals-the-rise-of-generative-ai-in-customer-support/?sh=4290ce823848
