LivePerson launches Maven™, a breakthrough conversational AI that replaces traditional websites and 800-numbers

NEW YORK, Dec. 5, 2018 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN), a leading provider of conversational commerce solutions, today launched Maven, a conversational AI that enables brands to replace traditional websites and 800-numbers with personalized conversations over SMS, Facebook Messenger, WhatsApp, Google RCS Business Messaging, Amazon Alexa, and other popular messengers and voice assistants. Maven enables not only computer scientists, but also the millions of agents working in contact centers to develop conversational AI experiences. This patent-pending mesh between human agents and AI makes it possible for brands to have personalized conversations with hundreds of millions of consumers, outperforming traditional websites and 800-numbers on measures such as customer satisfaction and sales conversion.

"I watched the first generations of conversational AI and bots frustrate consumers because the technology relied on decision trees that could send them in circles," says Robert LoCascio, LivePerson's founder and CEO. "We created a new direction. Our AI is designed to be taught and managed by contact center agents. One in 57 Americans works as a contact center agent, and when paired up with AI, their impact on the lifetime value of a customer is transformative. Where we once thought that AI would replace people, especially in contact centers, we know now that people in contact centers, who converse with consumers everyday, are the best conversational designers for AI. We will need this population to create and manage the millions of AI-powered conversations that will be necessary for consumers to speak to brands through their home and mobile devices."

LivePerson, a pioneer and market leader in brand-to-consumer messaging, developed Maven using its conversational data set of billions of brand-to-consumer interactions. Maven operates as the brains behind new LivePerson AI-based products that brands use to create, manage, and capture the most from their conversations with consumers: 

• Conversation Builder, which non-technical staff such as contact center agents use to design high-quality automated conversations. The conversations are not built from scratch. Conversation Builder creates the initial versions by mining a brand's existing conversation transcripts. Prebuilt industry templates are also available, providing the dialogue and integrations necessary for common use cases such as billing.
• Conversation Manager, a console that suggests automated responses and next best actions to contact center agents, who edit and select from them. Edits and selections dynamically improve the responses and next best actions. When the content reaches a brand-set accuracy threshold, it can be offered to consumers without human intervention. Conversation Manager also includes sentiment monitoring to alert contact center agents to conversations that require their attention. Designed for use in large contact centers, Conversation Manager sends these requests to agents who have the capacity and appropriate skills to respond. A major retail brand that adopted this approach in its sales operation increased agent productivity 300 percent within 12 weeks of launch.
• Conversation Intelligence, dashboards and reporting which take the true voice of the customer — their direct discussions with a brand, spoken in their natural language — and turn it into actionable sales and service intelligence. A major wireless provider using early versions of Conversation Intelligence reported the product identifies the root cause of service issues faster than monitoring software, enabling the provider to accelerate the fix and reduce inbound customer inquiries. A leading hospitality firm used Conversation Intelligence to identify and add new, top-selling items to its menu selection.

Leading direct-to-consumer women's luxury shoe brand Tamara Mellon is among Maven's early adopters. "We are committed to delivering a superior experience and have found messaging to be the most natural and effortless way for us to communicate with our customers," said Tamara Mellon, co-founder and Chief Creative Officer of Tamara Mellon Brand and formerly the co-founder of Jimmy Choo. "We are partnering with LivePerson so that our customers can ask us questions, get recommendations, and make purchases in the messaging apps and voice assistants they use everyday. LivePerson's new automation capabilities give our customers quick answers on topics like product availability while allowing our team to monitor the experience and put the finishing touches on conversations where needed."

Tamara Mellon is not alone. Gartner's recent report, Market Guide for Conversational Platforms, forecasts that by 2021, AI will handle 15 percent of all customer service interactions — an increase of 400 percent from 2017. The stakes are high. Less than 5 percent of consumers convert to sales on websites, and 90 percent of consumers dislike calling an 800-number. The cost of answering the phone calls alone is more than a trillion dollars per year.

LivePerson's new AI-based products work in concert with its existing set of conversational commerce capabilities that brands use to connect with consumers via popular messaging services and voice assistants, along with their apps, websites, and phone systems. LivePerson also provides APIs, SDKs, and connectors to access the myriad third-party systems necessary to fulfill customer intentions such as checking order status or making changes to a reservation.

Maven and LivePerson's new AI-based products are accessible via LivePerson's Early Access Program and will be generally available in the first quarter of 2019. Brands can apply for the Early Access Program at www.liveperson.com/ai.

About LivePerson

LivePerson makes life easier by transforming how people communicate with brands. Our 18,000 customers, including leading brands like Citibank, HSBC, Orange, and The Home Depot, use our conversational commerce solutions to orchestrate humans and AI, at scale, and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. For more information about LivePerson (NASDAQ: LPSN), please visit www.liveperson.com.

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Statements in this press release regarding LivePerson that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements.  Any such forward-looking statements, including but not limited to financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  It is routine for our internal projections and expectations to change as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we base our expectations may change.  Although these expectations may change, we are under no obligation to inform you if they do.  Actual events or results may differ materially from those contained in the projections or forward-looking statements.  Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: potential fluctuations in our quarterly revenue and operating results; competition in the market for digital engagement technology; our ability to retain existing clients and attract new clients; potential adverse impact due to foreign currency exchange rate fluctuations; privacy concerns relating to the Internet that could result in new legislation or negative public perception; risks related to new regulatory or other legal requirements that could materially impact our business; our ability to effectively operate on mobile devices; failures or security breaches in our services, those of our third party providers, or in the websites of our customers; risks related to industry-specific regulation and unfavorable industry-specific laws, regulations or interpretive positions; the adverse effect that the global economic downturn may have on our business and results of operations; economic conditions and regulatory changes caused by the United Kingdom's likely exit from the European Union; our ability to retain key personnel, attract new personnel and to manage staff attrition; risks related to the ability to successfully integrate past or potential future acquisitions; additional regulatory requirements, tax liabilities, currency exchange rate fluctuations and other risks as we expand internationally and/or as we expand into direct-to-consumer services; risks related to the regulation or possible misappropriation of personal information belonging to our customers' Internet users; potential failure to meeting service level commitments to certain customers; risks related to protecting our intellectual property rights or potential infringement of the intellectual property rights of third parties; legal liability and/or negative publicity for the services provided to consumers via our technology platforms; technology systems beyond our control and technology-related defects that could disrupt the LivePerson services; errors, failures or "bugs" in our products may be difficult to correct; increased allowances for doubtful accounts as a result of an increasing amount of receivables due from customers with greater credit risk; payment-related risks; delays in our implementation cycles; impairments to goodwill that result in significant charges to earnings; risks associated with the recent volatility in the capital markets; our ability to secure additional financing to execute our business strategy; our ability to license necessary third party software for use in our products and services, and our ability to successfully integrate third party software; our ability to maintain our reputation; risks related to our recognition of revenue from subscriptions; our lengthy sales cycles; risks related to our operations in Israel, and the civil and political unrest in that region; changes in accounting principles generally accepted in the United States; risks associated with our current or any future stock repurchase programs, including whether such programs will enhance long-term stockholder value, and whether such stock repurchases could increase the volatility of the price of our common stock and diminish our cash reserves; natural catastrophic events and interruption to our business by man-made problems; the high volatility of our stock price; and risks related to our common stock being traded on more than one securities exchange. This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements.  Readers are referred to the reports and documents filed from time to time by us with the Securities and Exchange Commission for a discussion of these and other important factors that could cause actual results to differ from those discussed in forward-looking statements.

Contact 
Allison Franzese 
afranzese@liveperson.com 
212.609.4224

SOURCE LivePerson, Inc.