The company ServiceNow had two significant acquisitions: Loom Systems and Passage AI
ServiceNow said that it received Passage Artificial Intelligence. It’s a startup that helps customers to build chatbots in multiple languages. It will be helpful because ServiceNow continues to modernize its digital service platform. The company is not sharing terms of the deal.
ServiceNow with Passage AI gets a bushel of artificial intelligence talent, which in itself, of course, has value. It also receives an Artificial Intelligence technology. It fits perfectly with ServiceNow’s’ mission. For starts, the Passage AI’s solutions are giving ServiceNow automated responses to customer and user inquiries.
Moreover, according to the website, Passage includes an IT automation component. That component uses a conversational interface to submit tickers, handle queries, and take direct action through APIs. It is more interesting for ServiceNow. The component also has an HR automation piece. It gives the company an intelligent tool which could incorporate across its Now Platform in tolls like ServiceNow Virtual Agent and Service Portal, as well as Workspaces in multiple languages.
One aspect of the deal was the multilingual support. Senior director of AI Engineering at ServiceNow is Debu Chatterjee. He says that building deep learning, conversational artificial intelligence capabilities into the Now Platform enables a work request initiated in German or a customer inquiry initiating in Japanese to be solved by Virtual Agent.
Almost all companies are looking for ways to solve common customer problems using chatbots. Nevertheless, they are only bringing humans into the loop when the bot can’t answer the query. Passage Artificial Intelligence gives ServiceNow much more in-depth knowledge in the growing area.
ServiceNow and Loom Systems
Passage Artificial Intelligence was launched in 2016. According to Crunchbase data, the company has raised $10.3 million. The Passage AI’s website lists a variety of large customers, including SoftBank, Mercedes-Benz, Shell, and Mastercard. The company purchased another artificial intelligence -a focused startup called Loom Systems. It concentrates on automating operations data.
On Wednesday afternoon ServiceNow will announce earnings.
Loom Systems is an Israeli startup. It specializes in AIOps. The ServiceNow did not reveal the purchase price of the Loom Systems.
Across many logging and monitoring tools, IT operations collect tons of data. Thus, it has way too much data for any teams of humans to keep up. That is why startups like Loom turn to Artificial Intelligence to help sort through it. It can find patterns and issues in the data that are challenging or impossible for humans to find.
First and foremost, ServiceNow is a company trying to digitize the service process. Nevertheless, it manifests itself. A big part of that is IT service operations. Companies are welcome to monitor their systems, wait until a problem happens, and they can try to track down the cause for fixing it. Otherwise, they can use the power of artificial intelligence to find potential dangers to the system health and neutralize them before becoming significant problems.
A president and general manager of IT Operations at ServiceNow is Jeff Hausman. He sees Loom as a strength merging with ServiceNow’s existing tooling to help to keep IT systems running.
- Trading Instrument