ServiceNow to acquire conversational AI platform company Passage AI
ServiceNow acquisition of Passage AI : US cloud computing company ServiceNow has agreed to acquire Passage AI, an artificial intelligence (AI) start-up company based in Mountain View, California which provides conversational AI-enabled interfaces.
Financial terms of the deal were not disclosed.
Established in 2016 by CEO Ravi N. Raj, CTO Madhu Mathihalli and CTO Mitul Tiwari, Passage AI uses deep learning algorithms to build chatbots and conversational interfaces that are claimed to perform at an industry-leading accuracy.
With the acquisition, ServiceNow will be able to advance its deep learning AI capabilities which will, in turn, drive the company’s goal of supporting all major languages across its Now Platform and products, including ServiceNow Virtual Agent, Workspaces, Service Portal, and emerging interfaces.
The conversational AI platform of Passage AI is said to be built on deep learning models that can be given training for understanding text in all major languages.
With the integration of Passage AI’s conversational AI capabilities with it’s Now Platform and also digital workflow capabilities, ServiceNow will broaden its chatbot support for non–English languages.
ServiceNow acquisition of Passage AI. Image courtesy of Gerd Altmann from Pixabay.
ServiceNow through its Now platform delivers digital workflows that are claimed to deliver great employee and customer experiences while unlocking productivity.
The previous AI acquisitions of the US cloud computing company include Loom Systems, Attivio, Parlo, Qlue, FriendlyData, and DxContinuum.
Commenting on ServiceNow acquisition of Passage AI, Debu Chatterjee – senior director of AI Engineering at ServiceNow said: “Work flows more smoothly when people can get things done in their native language. Building deep learning, conversational AI capabilities into the Now Platform will enable a work request initiated in German or a customer inquiry initiated in Japanese to be solved by Virtual Agent.
“Passage AI’s technology will enable us to accelerate our vision of empowering great employee and customer experiences by delivering great workflow experiences. ServiceNow believes in making work flow more smoothly across the enterprise, in all major languages.”
ServiceNow acquisition of Passage AI is expected to be wrapped up by the end of the first quarter of this year.