2023 Sprinklr Study Finds 60% of Brands Struggle with Ineffective AI for Customer Service
March 20, 2023
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A recent Sprinklr ($NYSE:CXM) study has revealed that 60% of brands are struggling with ineffective AI when it comes to customer service. The research, conducted in 2023, showed that many companies are finding it difficult to properly utilize AI to provide the best customer experience. AI-driven customer service technology has grown rapidly in recent years, yet many brands are still finding it difficult to make the most of these new technologies. This is causing them to struggle with providing customers with an effective and personalized experience.
In addition, brands are having difficulty managing and tracking customer conversations, which is crucial for effective customer service. As a result, many customers are being left unsatisfied with their experiences. Sprinklr is committed to helping brands tackle this issue and ensure that customers are receiving a superior experience. With its powerful platform, Sprinklr can help brands effectively utilize AI while also offering tools to manage and track customer conversations.
Currently, media exposure of artificial intelligence (AI) in customer service is largely negative, with no clear sign of improvement. On Tuesday, SPRINKLR stock opened at $10.4 and closed at $10.0, down by 0.9% from prior closing price of 10.1. This trend further emphasizes the difficulty brands have with using AI for providing customer service, as investors appear unsettled by the current situation. Live Quote…
About the Company
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Balance Sheet Snapshot
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At GoodWhale, we analyze the financials of SPRINKLR to help investors make informed decisions. According to our Risk Rating system, SPRINKLR is a low risk investment in terms of financial and business aspects. However, we have detected 1 risk warning in SPRINKLR’s balance sheet. To access this warning in full detail, please become a registered user with GoodWhale. More…
It provides a comprehensive suite of tools to help companies engage customers and gather data to measure customer sentiment, understand customer behavior, and improve customer loyalty. In the same space, there are several competitors such as Wishpond Technologies Ltd, SpringBig Holdings Inc, and LiveWorld Inc. All of these companies provide similar services and solutions to help companies improve customer experience.
– Wishpond Technologies Ltd ($TSXV:WISH)
Wishpond Technologies Ltd is a software company that focuses on developing digital marketing technology for small businesses. The company’s market cap as of 2022 stands at 39.68M, reflecting its size and position in the industry. Its Return on Equity (ROE) of -20.11% indicates that the company is not doing well financially. This is likely due to the competitive landscape in the software industry and the company’s inability to keep up with its rivals. Despite this, Wishpond Technologies Ltd still has a sizable market cap and is worth considering for those looking to invest in digital marketing technology.
– SpringBig Holdings Inc ($NASDAQ:SBIG)
Big Holdings Inc is a publicly traded company that operates across multiple sectors, including finance, technology, automotive, and healthcare. The company has a market cap of 13.89M as of 2022, making it a small-cap company. Its Return on Equity (ROE) is -434.53%, which is far lower than the industry average and indicates that the company is not generating enough returns from its shareholders’ investments. This could be due to several factors such as the company’s high debt levels, or its low cash flow. Nevertheless, Big Holdings Inc is still an attractive investment opportunity for investors looking for higher returns in the long run.
– LiveWorld Inc ($OTCPK:LVWD)
LiveWorld Inc is a social media company based in San Jose, California. It provides online community management, content moderation, and customer service solutions for companies around the world. With a market cap of 1.23M as of 2022, LiveWorld Inc is a small to mid-sized company with a current value of its outstanding shares. Despite its smaller market cap, the company has a negative return on equity of -48.81%. This suggests that the company is not generating enough profits to cover its shareholder’s equity. However, the company has seen significant growth in recent years, and it is likely that the market cap and ROE will increase in the future.
Investing in SPRINKLR is a practical choice for many businesses looking to improve their customer service capabilities. A recent study found that 60% of brands struggle with ineffective AI for customer service, and SPRINKLR is positioned to help them optimize this process. This AI-driven platform ensures that customers receive better support and engagement from businesses, helping to improve loyalty and overall satisfaction. With its comprehensive suite of tools and comprehensive analytics, SPRINKLR is an ideal choice for businesses looking to maximize their customer service investments.
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