Every company gets feedback from their customers, but if a company is successful, it means they’ve got a lot of customers telling them what to do differently.
Processing all of those pointers can be a complicated, time-consuming process – and if you’ve got human workers sifting through all of that data and compiling it into actionable insights, there’s never a guarantee that good old-fashioned human bias won’t play a role in the final product presented to the company’s HQ.
Several Israeli start-ups have identified this as a problem that could be solved with the current hi-tech era’s “golden child” tech-solution ingredient, artificial intelligence. Tagado is one such start-up, having developed a platform which uses AI to generate automatic actionable insights, supply smart summaries and enable filtering by topic, subtopic or specific keywords.
The company has just raised $4 million in seed funding for its solution, which it will use to support recruitment and its expansion into the US market.
How is Israeli start-up Tagado using artificial intelligence?
“Understanding customers’ needs creates a clear strategic advantage in building better products,” according to Ilia Shnaidman, vice president at Blumberg Capital, which participated in the successful seed round.
“Historically, using advanced AI to analyze customer feedback was an ability reserved for only the largest and most technologically advanced companies. Tagado’s platform is a game changer for any company focusing on its most important asset: its customers.”
Tagado’s platform allows companies to organize customer feedback from multiple channels and automatically generate actionable business insights. It gathers public and internal information from review sites, social media, support tickets, CRM and more, and identifies trends and micro-trends, opportunities and risks.
“We developed technology to assist businesses and managers in making informed decisions regarding their next steps,” Tagado CEO Ohad Zadok said. “As a result of the insights our technology can provide, companies can improve the performance of their business, identify missing marketing messages, and determine which new features will be most impactful.”
“We developed technology to assist businesses and managers in making informed decisions regarding their next steps. As a result of the insights our technology can provide, companies can improve their performance of the business, identify missing marketing messages, and determine which new features will be most impactful.”Ohad Zadok
Tagado’s technology is based on one of the forefront innovations in the AI field: Natural Language Processing (NLP). Recent advancements in machine learning have enabled developers to more effectively “train” their AI systems to process, dissect and understand the complexity of human language, enabling much more expansive interaction between computers and humans.
NLP’s remarkable utility was recently highlighted by Yoav Shoham, a professor of computer science at Stanford University, founder of the Artificial Intelligence Index and co-founder and co-CEO of AI21 Labs, a company that uses artificial intelligence language models to change how people read and write.
“NLP seems inherently tied to progress in AI, because it captures complex human thinking,” Shoham told The Jerusalem Post. “Natural language is the lens into the human mind, because there’s nothing as subtle and complex. To understand text is really to understand thinking.”