In 1995, LivePerson began revolutionizing customer service by inventing “live chat” functionality that became a go-to solution for thousands of notable websites. Over the next twenty six years, they committed themselves to staying one step ahead of the speed-of-light pace of technology and big tech. Mission accomplished. Today, LivePerson is the leader in the conversational artificial intelligence space. In fact, they were recently named the #1 most innovative company in AI worldwide by Fast Company.
Not bad for a company that touts over $500 million in annual revenue, employs more than 1,500 team members around the globe and has expanded its AI into digital commerce, genomics-based healthcare, and other massive growth markets. “We never rely on the status quo.” said a LivePerson People Team Leader. “Companies who are hot today may be gone tomorrow. As such, we are always keeping our eye on the future, targeting sectors such as AI-based healthcare which are forecast to have exponential growth of over $120.2 Billion By 2028.”
In addition to a robust customer base, of over 18,000 strong, LivePerson is also known for their unique and powerful consumer experiences and their commitment to pushing AI capabilities, year after year. Their cutting-edge platform is currently utilized by many of the world’s largest companies including Delta Airlines, Home Depot, and Chipotle.
What is their secret sauce? In addition to their cutting-edge AI platform which makes it possible for automated chats and texts to function, with a focus on post-purchase support, LivePerson’s latest innovations fall under what they call “Curiously Human” experiences. These involve digital experiences in which an AI bot becomes a true “buddy” to a consumer and works on understanding a consumer’s most important intents, as revealed by every line of a conversation, with unprecedented accuracy. The result? A more meaningful, natural-feeling conversation.
The foundation for creating Curiously Human AI experiences is a robust conversational data set which LivePerson touts, generating over one billion conversations monthly. This database also enables LivePerson to constantly improve upon the consumer experience. Companies are also drawn to their platform because of its ease of use which allows customer service reps to “improve a company’s bots on the fly, with no deep knowledge of data science required.”
In addition to their superior technology, how has LivePerson maintained their #1 status in an incredibly competitive field such as AI for so long?
Interviews with the tech company’s executives reveal a consistent story: it’s all about workplace culture. Two principles set them far apart from their competitors include supporting risk-takers and being first to market in the technology space. LivePerson recognizes that innovation requires taking risks. From day one, every team member is not only encouraged, but pushed to act like owners, developing new technologies that could grow into viable product lines or significantly enhance existing ones.
The “Own It” principle outlined in LivePerson’s core corporate values isn’t unique in the software industry, but LivePerson pulls it off better than most. The key may be tolerance. As one top executive said, “People who try to do something new and fail are not voted off the island. But people who don’t try? They tend not to make it here.” LivePerson’s “Be First” mantra is also key to their success. In fact, it is so ingrained in the DNA of the company that at their customer events they start off by showcasing the individuals, “the firsts” from their customer base who created something new with their platform.
By emphasizing pioneering technologies and platforms rather than imitating what works elsewhere – LivePerson continually rolls out innovations that give them a leading share in new markets, rather than merely eking out marginal improvements in existing ones. It’s a mindset that has marked some of the most successful companies in the history of technology, like Apple, Google, and Amazon, a group to which LivePerson unquestionably belongs.
