SentiOne selected by EIT Digital as one of Europe’s best deep tech scaleups
SentiOne in the running for the EIT Digital Challenge 2020, Europe’s flagship competition for Deep Tech scaleups. SentiOne was acknowledged for its rapid growth in the AI customer service automation sector, world class chatbot technology and ability to facilitate digital transformation in top banks in Poland.
SentiOne has been selected as a finalist in EIT Digital’s renowned pan-European competition EIT Digital Challenge. EIT Digital is a leading European player in innovation and entrepreneurial education. The EIT Digital Challenge competition focuses on startups in the growth stage – so called scaleups – with deep tech products that leverage sophisticated, hard-to-reproduce digital technologies that fuel the digital transformation.
SentiOne supports enterprise clients in the field of customer service automation using AI-powered chatbots and voice assistants. The COVID-19 pandemic proved to be very demanding for customer service departments – closed branches, increased customer inquiries, overloaded call centers. By using SentiOne’s solutions Polish banks, insurers and consumer companies have automated up to 30% of customer service inquiries – all thanks to technology that can understand the intentions and motivations of customers almost as accurately as people.
SentiOne’s proprietary Natural Language Understanding (NLU) algorithm achieves the highest accuracy of intent recognition – 98% – and is currently ranked first in the global Papers with Code ranking. What does this mean for the industry? SentiOne chatbots can easily augment customer service agents, take over the most tedious and repetitive inquiries, and work 24/7/365. Thanks to the effectiveness of the technology, 2020 proved to be a record year for SentiOne: a significant increase in tender inquiries, won tenders worth USD 1.5 million, completed 9 pilot implementations and are negotiating further implementations with leading banks. From the startup’s point of view – the pandemic has accelerated the digital transformation in Poland.
A total of 403 companies from 32 countries applied for the competition. They cover a variety of areas strategically chosen with respect to major digital trends and European leadership potential: Digital Tech, Digital Industry, Digital Cities, Digital Finance and Digital Wellbeing.
SentiOne will compete against nineteen other European deep tech scaleups. Five winners will be awarded and receive a full year support by the EIT Digital Accelerator worth €50,000 to grow their businesses in Europe and beyond. The first prize winner will receive an additional cash prize of €100,000.
The EIT Digital Challenge takes place for the seventh consecutive year. Since its launch in 2014, the competition has received a grand total of 2500 applications from 35 countries. While it initially targeted startups, the EIT Digital Challenge has evolved to become Europe’s flagship competition for deep tech scaleups in digital.