Global companies line up to trial FGO’s ROSIE AI
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Artificial intelligence systems known as Chatbots have been on the rise in the past 12 months, as businesses look to this new intelligence to improve customer experience.
Chatbots interact with users via messaging, text, or speech with the market expected to grow exponentially: according to Grand View Research, the market will be worth $1.23 billion by 2025 – a compounded annual growth rate (CAGR) of 24.3%.
One Australian company leading the way in the growth of AI, is Flamingo AI (ASX:FGO). The company has been busy over recent months assisting several global entities to trial the company’s virtual assistant ROSIE.
Flamingo AI says ROSIE is more than just a Chatbot. It is a ‘Cognitive Virtual Sales Assistant,’ utilising machine learning to observe and build on her knowledge.
The AI has been designed as a ‘journey assist’ platform, pre-configured with product information, applications, quotation questions, payment gateways, specific to the particular company that adopts the technology.
CUA is the most recent company to trial FGO’s solution.
The Brisbane-based banking-insurance outfit CUA is trialling ROSIE for three months from April on CUA’s health insurance products. Up to 1500 customers will deal with ROSIE as CUA seeks to gain a first-mover advantage within this industry.
On integrating the AI, CUA Health head Philip Fraser said, “If we’re not there and we’re not providing this technology ... then arguably somebody else will be the adopter of this technology.”
CUA is just the latest in a string of companies to trial ROSIE as the increased interest in ROSIE in the US and Australia quickly expands.
AMP and Chubb are also trialling Flamingo AI’s Cognitive Virtual Assistant platform.
“We are trialling the latest technology to ensure our interaction with customers through our online support platforms is best practice,” an AMP spokesman told The Australian Financial Review.
AMP’s support comes on the back of growing interest from the finance and insurance sectors with online loan provider DirectMoney also trialling the platform, with ROSIE to be used to guide customers through secured and unsecured personal loan applications.
In the US, FGO’s relationship with Nationwide is progressing well with the insurer’s customers now interacting with FGO’s virtual assistant platform for its Guaranteed Retirement Income product, with discussions in train to cater to other business divisions. Additionally, Flamingo AI has two other Fortune 100 US based insurers as clients and a strong sales pipeline in North America.
It should be noted however that this remains a speculative stock and investors should seek professional financial advice if considering this stock for your portfolio.
FGO CEO Dr Catriona Wallace is confident that ROSIE will have a big impact. Dr Wallace told Finfeed: “Artificial Intelligence is the fastest growing technology sector and we are well ahead of the market. We have developed our own IP and have proven business results, which a lot of our competitors have failed to do. On the back of a successful Capital Raise in December 2017, we are laser focused on sales and revenue generation.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
