ServiceNow and NVIDIA Expand Relationship with Introduction of Telco-Specific GenAI solutions to Elevate Service Experiences
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Integrating NVIDIA's AI technology into ServiceNow's Now Platform for the telecommunications sector represents a significant advancement in the use of AI to enhance operational efficiency. The collaboration aims to address the industry's push towards digital transformation, with a focus on improving agent productivity and customer experience. This move aligns with the findings from an IDC survey, which highlights AI/ML investments as a top priority for global telecommunications service providers.
From a market perspective, the partnership could potentially lead to an expansion of ServiceNow's customer base within the telecommunications industry, which is a highly competitive and cost-sensitive sector. The ability to offer differentiated AI-powered solutions may give ServiceNow a competitive edge, potentially impacting market share and revenue growth. For NVIDIA, the use of its AI Enterprise software platform in this context could strengthen its position in the enterprise AI solutions market, possibly affecting its stock valuation positively.
The introduction of Now Assist for TSM reflects a growing trend in the telecommunications industry to leverage AI for service assurance and customer care. The ability of GenAI to quickly summarize case activities and guide agents in real-time is particularly relevant for telcos that manage large volumes of customer interactions and technical incidents. For instance, in the event of a fiber cut, GenAI's capabilities in interpreting technical data and providing actionable insights can lead to significant reductions in resolution time and operational costs.
Moreover, the emphasis on responsible and safe AI use is crucial, as telecommunications companies handle sensitive customer data. The partnership's focus on ethical AI deployment could help in building trust with clients and regulators, potentially influencing industry standards for AI implementation in the future.
The strategic partnership between ServiceNow and NVIDIA could have implications for both companies' financial performance. The launch of Now Assist for TSM may drive additional revenue streams for ServiceNow by attracting new telecom clients and encouraging existing ones to upgrade their service packages. For NVIDIA, increased adoption of its AI Enterprise platform across the telecommunications industry could lead to higher software licensing revenues.
Investors should monitor the market adoption rates of Now Assist for TSM, as well as any reported efficiencies and cost savings by early adopters, which could serve as indicators of the product's financial impact. Additionally, any shifts in the competitive landscape, as other companies respond to this innovation, could influence the stock performance of both ServiceNow and NVIDIA.
Built on the Now Platform, Now Assist for Telecommunications Service Management leverages NVIDIA AI to help boost agent productivity, speed time to resolution, and enhance time to value.
The first solution, Now Assist for Telecommunications Service Management (TSM), is built on the Now Platform and uses NVIDIA AI to help boost agent productivity, speed time to resolution, and enhance customer experiences. As telcos look to reduce costs and uncover new business opportunities, they’re turning to AI and automation. In a survey from IDC,
“GenAI is a game-changer for telcos looking to boost productivity, improve customer experiences, and drive cost savings with its ability to learn and improve with each use,” said Rohit Batra, general manager and vice president for telecom, media, and tech at ServiceNow. “Together, ServiceNow and NVIDIA will help telcos realize unprecedented business value and impact, fast. This is just the beginning of a large-scale transformation for the industry, and we’re excited to be at the forefront.”
“The telco industry is rapidly evolving as AI makes its mark on enterprises everywhere,” said Chris Penrose, global head of business development for telco at NVIDIA. “Our partnership with ServiceNow will help telcos leverage GenAI to tackle their unique challenges and build better, stronger, more efficient experiences.”
Many features within Now Assist are powered by ServiceNow fine-tuned large language models, as well as served using NVIDIA Triton Inference Server™ and customized with NVIDIA NeMo™, both included with NVIDIA AI Enterprise software platform for the development and deployment of production-grade AI applications, including generative AI cutting-edge innovation for business-critical use cases, including:
- Customer Care: Telco customer service agents are expected to provide customers with accurate, fast support. GenAI-powered chat summarization and agent assist capabilities help boost productivity and play a pivotal role in call deflection. GenAI can summarize case activity, work notes, and customer interactions, and guide agents with next best actions. This helps agents serve customers quickly and focus on complex queries that require personalized attention—leading to overall better customer experiences.
- Service Assurance: GenAI provides service assurance teams, stakeholders, and customers a streamlined and rapid understanding of incidents. Take a fiber cut, a common service assurance use case that can have problematic and financial consequences for telcos. Incident management teams face a slew of challenges when handling these incidents, dealing with technical data and the risk of misinterpretation due to specialized terminology and acronyms. GenAI helps decipher technical jargon, distill complex information into clear, concise summaries designed to speed time to resolution, drive cost savings, and improve customer experiences.
ServiceNow and NVIDIA plan to build out additional telco-specific GenAI use cases based on the unique needs of customers. Together, the companies are working to solve the industry’s biggest challenges and drive business transformation for telcos globally.
Partnering for responsible and safe AI
The telco use cases are an extension of ServiceNow and NVIDIA’s partnership announced in May 2023.
1IDC, 2023 Telecommunications Service Provider Transformation Plans and Strategies Survey Highlights, Doc # US49352223, May 2023
Additional Information
Find out how generative AI can help cloud service providers improve business processes, customer experience, and network management.
Availability
Now Assist for TSM is available today.
About NVIDIA
Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company’s invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling industrial digitalization across markets. NVIDIA is now a full-stack computing infrastructure company with data-center-scale offerings that are reshaping industry. More information at https://nvidianews.nvidia.com/.
© 2024 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, DGX, NVIDIA NeMo, and NVIDIA Triton Inference Server are trademarks and/or registered trademarks of NVIDIA Corporation in the
About ServiceNow
ServiceNow (NYSE: NOW) makes the world work better for everyone. Our cloud‑based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. So employees and customers can be more connected, more innovative, and more agile. And we can all create the future we imagine. The world works with ServiceNowTM. For more information, visit: www.servicenow.com.
© 2024 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in
NVIDIA Forward Looking Statements
Certain statements in this press release including, but not limited to, statements as to: the benefits, impact, performance, features, and availability of NVIDIA’s products and technologies, including NVIDIA AI, NVIDIA NeMo, NVIDIA AI Enterprise software platform, and NVIDIA Triton Inference Server; the benefits and impact of the expanded partnership between ServiceNow and NVIDIA, and the features and availability of its services and offerings; the telco industry rapidly evolving as AI makes its mark on enterprises everywhere are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
ServiceNow Forward Looking Statements
This press release contains “forward‑looking statements” about the expectations, beliefs, plans, and intentions relating to its partnership with NVIDIA to build telco-specific GenAI solutions. Such statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward‑looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward‑looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, ServiceNow’s results could differ materially from the results expressed or implied by the forward‑looking statements made. ServiceNow undertakes no obligation, and does not intend, to update the forward‑looking statements. Factors that may cause actual results to differ materially from those in any forward‑looking statements include: (i) delays and unexpected difficulties and expenses in executing the partnership or delivering the product capabilities and offerings, (ii) changes in the regulatory landscape related to AI and (iii) uncertainty as to whether sales will justify the investments in the product capabilities and offerings. Further information on factors that could affect ServiceNow’s financial and other results is included in the filings ServiceNow makes with the Securities and Exchange Commission from time to time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240225662457/en/
Courtney Johnson
ServiceNow Public Relations
925.405.2446
press@servicenow.com
Janette Ciborowski
NVIDIA Corporation
734.330.8817
jciborowski@nvidia.com
Source: ServiceNow, Inc.
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