Nick Pegram DTX 2019 Interview
NATALIE TURNER [00:00:13] Hello and welcome back to the Digital Transformation Expo. I'm Natalie Turner with Disruptive Live and today I'm joined by Nick. Thank you so much Nick for joining us today. How are you?
NICK PEGRAM [00:00:24] I'm really good. Thank you. Yeah, I just finished the keynote, which was great. I really enjoyed it.
NATALIE TURNER [00:00:29] So you're the head of Bold360.
NICK PEGRAM [00:00:31] That's right.
NATALIE TURNER [00:00:31] So we'll get more into your keynote speech. I'd love to hear more about. But tell us about the company you work for or how your role plays a big impact on the success of the business.
NICK PEGRAM [00:00:41] Yeah. So actually, our parent company is a company called LogMeIn, which is a global software or an asas business, one point two billion revenue. It's it's pretty big. But we've got a really simple vision for our products and that's to drive a frictionless experience, which basically means they're really easy to use. They're really fast and really secure. Bold360 is one of the products within the customer engagement and support business. And it's an AI driven customer engagement platform and keen to tell you more about it.
NATALIE TURNER [00:01:10] Brilliant, so is that what you're showcasing today?
NICK PEGRAM [00:01:14] Yes, so I head up the Bold360 business EMEA.
NATALIE TURNER [00:01:17] So what does digital transformation mean to you?
NICK PEGRAM [00:01:20] Well, what we see from a customer engagement perspective is that, you know, a lot of our clients that are, you know, maybe B2C. They see that they have to invest in where customers are looking to interact with them. And so that's typically through a lot of the digital channels or Web self-service. So they may want to message a company now or they may want to start online or that's typically what we see rather than using the traditional channels like email and phone. And so our technology really bridges the gap and helps them really get from that place of relying on those traditional channels and investing in AI technology to enable customers to self-serve and be able to communicate with those customers in real time.
NATALIE TURNER [00:02:02] Fantastic. So is that the key message that you're trying to get out today?
NICK PEGRAM [00:02:06] Well, it's a couple of things, actually. One is that, you know, Chatbots and AI have created a lot of noise in the market and there's a lot of confusion in terms of the value that they drive. I think there's a lot of companies that have been burned with their investments. We think that actually it's it's at a stage now where you can really start quite simply and just focus on what it is that customers want to do and how they want to interact with the brand and how technology makes that really simple for that connectivity to take place.
NATALIE TURNER [00:02:37] So keynote speech, that's pretty cool. How did it go?
NICK PEGRAM [00:02:41] Yeah. I mean, we we had a lot of interaction around Chatbots where they are now. And I think there's a lot of failed projects. So I think Chatbots have come of age and it was very much about, you know, educating on some of the use cases that we had and we had some really positive experience. So I talked about, you know, what we're doing with Dyson, which is a, you know, a top 20 super brand and how we're helping the shopping experience online with their customers and companies like Vodafone and how we help their customers interact with them using our Bold360 AI technology.
NATALIE TURNER [00:03:15] Brilliant. So was there any advice that you provided the audience? And if it's possible, could you let us in on that?
NICK PEGRAM [00:03:21] Yes, sure. So there was a little bit of best practice, actually. It's probably good to maybe share a little bit of that. So I think for any organisations looking to invest in digital channels and maybe, you know, messaging or Chatbot technology really start small and focus on what those use cases might be. So, you know, you'll have an insurance company that might have a lot of queries around, you know, household claims. And you might have a telco company that has a lot of queries around, you know, checking there bill or, you know, what what what's the next iPhone and what sort of package should I be selecting? Well, AI can actually really help with those journeys and really help simplify that digital interaction taking place. So a couple of the best practices that we talk about is keep the use cases really simple. Start small. Make sure the scope is really tight. Make sure that you've got really clear success criteria in terms of what those outcomes should be in terms of the customer experience or impact that you want to see and reduction to the traditional channels in the contact centre.
NATALIE TURNER [00:04:30] So going back to artificial intelligence for a moment, there's been a lot of talk on AI these last couple of days. Do you think that it's an exciting time to be growing up in the digital age, or do you think it comes with too many consequences? I mean, you speak a lot about opportunities and the positive side of things which is great. But what what is your opinion on the challenges that we're also facing?
NICK PEGRAM [00:04:52] Well, I think there's a I think there's a lot of confusion. But I also think that there's a lot of enablement and empowerment that's taking place. So, I mean, our AI technology with Bold360 is predominately language based actually so being able to really identify a customer journey through text input and being able to help that customer through a conversational flow so that they can interact and find information that they're looking for. That's something that's quite mature now. So although there's a lot of confusion in terms of, you know, where to deploy AI and what it really means for people, it's about servicing the customer for us, making sure the customer is able to find that information really quickly, really easy and really securely.
NATALIE TURNER [00:05:34] In regards to your customers, what challenges are you particularly facing within your business? I mean, everything can't be, you know, plain sailing. I'm sure you come across the odd, you know, bump here and there in the road. Can you talk to us about how you overcome those challenges? and can you maybe advise some of the other businesses and vendors here on how to do the same?
NICK PEGRAM [00:05:55] Yeah. So I think that, you know, it's a really difficult time for a lot of companies, especially in B2C, where customers are looking to contact them via Facebook Messenger. You know, they may go online and they want to use a live chat as a channel or, you know, they're still very dominant channels such as The Voice and email. So it's really hard to determine which is the best channel of choice. So I think a lot of organisations look at the data sets that you've got, look at where your customers want to communicate with you and look at how you want to manage that going forward. The younger generation definitely want to start online with the demands that you have from companies like deliveroo and Uber and you know even Netflix, they want immediacy and they use voice as well. So Bold360 is able to really identify a lot of those touch points and be able to guide customers through sort of a conversational flow to really, really help provide that interaction and then enable those customers to self serve and I think that companies are now starting to realise that you haven't got to do it on a big scale. You can start small and grow and really learn from those insights. And that's part of what we provide as well.
NATALIE TURNER [00:07:05] Fantastic, so with customers, how can they learn more about Bold360 and if they wanted any advice, where can they go to?
NICK PEGRAM [00:07:13] OK. So we're in R20. That's our stand. We've got demos happening this afternoon. So we're working with, I mentioned Dyson and Vodafone. That's a top three bank from India that we work with called ICICI Bank and Royal Bank of Scotland. So we're doing a lot of show and tell and showing insights on, you know, our Chatbot technology and how it's empowering customers, but also how empowers agents. So we believe it's the time of the super agent, our AI technology the agent console level is really helping agents find information really quickly, really easy to be able to manage the customers a lot more effectively.
NATALIE TURNER [00:07:56] Do you have a website?
NICK PEGRAM [00:07:57] Yeah. So it's Bold360.com/uk it will automatically take you to the website or people can reach out to me on LinkedIn as well.
NATALIE TURNER [00:08:07] Brilliant OK, Yeah, you're talking to thousands of LinkedIn fans here so im sure you'll get a few inbox to you. It's been lovely having you on Disruptive, thank you so much It's been a pleasure talking to you.
NICK PEGRAM [00:08:18] Great stuff. Thank you.
NATALIE TURNER [00:08:21] That is all from us for now, however, we'll be back for a quick wrap up after the break. See you in a bit.