What Can AI Do for Small Businesses?
Artificial intelligence (AI) has become a powerful tool for automating repetitive tasks and streamlining processes in various industries. One startup that recognizes the potential of AI in small businesses is Synthflow, a Berlin-based company that has developed a no-code platform for AI voice assistance. It recently announced a $7.4 million seed round to further develop its SME-focused platform.
Synthflow has been gaining traction since its launch in December 2023, with double-digit monthly growth rates and nearly 1,000 customers already using its platform. This demonstrates the growing interest among small businesses in adopting generative AI tools that offer easy-to-reach productivity gains.
The funding will be used to enhance research and development efforts, allowing Synthflow to expand its product utility and target a broader range of SMEs. According to Hakob Astabatsyan, CEO and co-founder of Synthflow, the team has a clear understanding of the needs of their customers and intends to continue meeting those needs.
Synthflow initially focused on English-language call handling due to the English-speaking market’s size. However, it has since added German and French language versions, indicating its interest in targeting markets in Europe.
Enhancing Efficiency in the Service Industry
Call centers were one of the early adopters of AI voice agents, utilizing large language models’ (LLMs) APIs to answer phone calls with human-like responses. Synthflow is taking a different approach by directly targeting service industry-focused SMEs, particularly those at the smaller end of the spectrum, with its no-code offering. The aim is to provide an end-to-end AI voice assistant experience that allows businesses to automate core tasks, such as appointment scheduling.
Astabatsyan provides the example of a handyman or mechanic who often misses calls while working on a job or a dentist with limited receptionist hours. Having a voice AI assistant that can handle basic customer inquiries can be a game-changer for these small businesses. By automating simple tasks, AI frees up human agents to focus on more complex customer needs, thereby increasing productivity and efficiency.
Accessibility for Non-Technical Users
Synthflow recognizes that its target audience, SMEs, may not have a technical background. Hence, one of its core focuses is making AI technology accessible to non-technical users. The company has built a no-code interface that allows customers to design voice agents specific to their businesses’ needs.
The interface allows users to drag and drop elements to configure AI voice agents for tasks like appointment scheduling, FAQ handling, and information extraction. Astabatsyan emphasizes the importance of disclosing that the voice assistant is virtual to provide transparency to customers. By giving users the power to configure their AI assistants, Synthflow empowers SMEs to explore the benefits of LLMs for their businesses.
AI’s Role in Call Filtering and Post-Call Tasks
Another area where AI voice agents can be highly useful is call filtering. Astabatsyan suggests using AI to filter inbound calls based on complexity. By automating simple requests, AI agents can free up human agents to focus on more complex customer inquiries, resulting in enhanced productivity.
Moreover, Synthflow’s system is designed to handle post-call data entry tasks, such as adding appointments to a calendar tool. By integrating with third-party software, the platform enables businesses to seamlessly manage and process information extracted from calls. This capability is another key focus for Synthflow, as it intends to build integrations with various software tools to further enhance its AI voice assistant’s functionalities.
The Technology Behind Synthflow
Synthflow builds on OpenAI’s GPT LLM by incorporating its own AI models trained on specific customer use-cases. The startup also developed its voice orchestration layer, which converts customer speech into text prompts for the AI model. The responses generated by the model are then converted back into synthesized voice for the customer to hear.
While Synthflow is primarily focused on inbound calls, it is actively working on expanding the capabilities of its voice AIs. The company plans to enable its AI assistants to perform live actions or connections during calls, such as checking live inventory or pulling requested information from other sources.
Astabatsyan suggests that different AI voice systems could collaborate and hand off calls to each other based on the specific tasks required by the customer. This would allow businesses to provide a more comprehensive and efficient customer service experience.
The Future of AI in SMEs
As AI voice assistants continue to streamline customer service processes, small businesses may find themselves with more work than they can handle. While this may seem like a positive outcome, it raises questions about how to efficiently channel human resources in other sectors to fully utilize the productivity gains. This is an interesting challenge that managers and leaders need to consider as AI technology advances.
Synthflow’s recent seed funding round was led by Singular, with participation from existing investor Atlantic Labs and several AI-focused investors, including the founders of Krisp AI. The funding will undoubtedly fuel further research and development efforts, allowing Synthflow to continue innovating and providing valuable AI voice assistance solutions to SMEs.
Conclusion
Synthflow’s no-code platform for AI voice assistance offers small businesses an opportunity to automate and streamline repetitive tasks, boosting productivity and efficiency. The startup’s success and growing customer base demonstrate the increasing interest among SMEs in adopting AI tools. By focusing on accessibility and customization, Synthflow empowers non-technical users to leverage AI technology for their businesses. As the company continues to evolve and expand its offering, SMEs can expect even more sophisticated AI voice assistants that deliver tangible benefits. The potential of AI in SMEs is vast, and Synthflow is at the forefront of unlocking its capabilities for businesses around the world.
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