Zoom has launched Zoom IQ for sales, a product that uses Artificial Intelligence (AI) that provide insights and analysis for sales meetings and deals.
According to insiders, this is the first move for the video chart platform into sales automation software. The lockdown and pandemic was the perfect storm for companies and their sales team to adopt digital tools to get their work done.
Josh Dulberger, Zoom’s head of product, data and AI said, “Zoom is always searching for ways to help our customers elevate their end customers’ experience and Zoom IQ for Sales is the latest development in that journey.”
“Zoom IQ for Sales can identify opportunities, assess risks and ultimately enable and improve sales team performance. It uses natural language processing models to process post-meeting transcripts and deal progress data, generating insights for sales reps and managers,” adds Dulberger.
“Zoom has made strategic investments in homegrown speech recognition technologies and recruited a world-class team to produce high-fidelity transcription services that are a backbone for products like Zoom IQ. We’re developing domain-specific NLU (natural language understanding) using few-shot models to build features that will be more reliable and valuable to our users,” Dulberger continued.
“Sales teams … want to focus on the customer, and managing the engagement rather than taking notes, but also so they can review their calls to pick up nuances, easily identify next steps or solicit some guidance from a colleague. Managers and sales leaders can’t sit in on every call, but want to understand the selling climate, when to coach and which reps are finding the right message.”
According to Dulberger, “Zoom IQ for Sales’ analysis covers customers’ reactions, conversational and selling skills, customer pain points, competitors, deal risk metrics, and more.”