Join top executives in San Francisco July 11-12 to hear how leaders are integrating and optimizing AI investments for success. Learn more
Revenue information platform Gong today unveiled a suite of proprietary generative AI models designed specifically for sales teams. The company said its large data set of sales interactions, including calls, emails and web conferences, serves as the foundation for these templates, which customers can tailor to meet their specific needs.
Gong says its generative AI models are set apart from standard systems by their ability to classify large amounts of specific sales-deal data, including customer objections, and understand the context and intent of sales conversations . This capability allows models to deliver accurate and relevant results for sales teams.
“We captured billions of interactions between sales teams and customers and analyzed them to deeply understand context, intent, tone and outcome,” Gong CEO Amit Bendov, CEO, told VentureBeat. “Because our proprietary Generative AI models are trained on a specific body of sales data, the models can identify events such as customer objections, manage risks and opportunities, and generate relevant and accurate next steps, capturing the nuances of the domain sales that are general purpose templates can not. We are counting on artificial intelligence to replace the drudgery of white-collar workers.”
Bendov pointed out that instead of manually searching through calls, emails and meeting notes scattered among team members, the platform consolidates all the information into one efficient, unified view.
“Our model understands the important highlights of every conversation,” Bendov said. “So when you’re managing a pipeline, you only see the key elements of each deal and prioritize them based on your understanding of the deal.”
Leverage intricate sales insights through generative AI
Gong believes sales engagement plays a vital role in the sales process, especially when generating qualified leads. Therefore, to streamline sales workflows and increase employee efficiency, the company has inculcated generative AI into its Revenue Intelligence platform to produce accurate and relevant content.
The latest addition to Gong’s Revenue Intelligence platform is the Engage tool, a solution for improving sales engagement within revenue teams. Leveraging the power of GenAI, this tool delivers valuable sales insights from initial interactions with prospects to successful deals.
At the heart of the tool’s engagement strategy is the delivery of tailored and personalized content, which helps ensure that every interaction resonates with the specific needs and preferences of potential customers.
In creating a follow-up email after a meeting, the tool reviews key points composed by Gong’s GenAI. It also considers account history and incorporates these details into a template that generates about 95% complete emails, the company says. The user can further customize and send the email.
When composing an email for the first time in cases where there has been no previous interaction, the platform retrieves account and recipient information (using publicly available information).
This data is used to personalize the outgoing message based on the company’s product and tailored to the specific seller. For example, the email may reference the client’s industry and include other relevant personal details about the individual.
Similarly, a Call Spotlight feature is a notable addition to the platform that generates accurate summaries, key account highlights, and actionable activities based on lengthy sales conversations. The company says this capability comes from its language models understanding call outcomes and concepts, including a prospect’s business goals.
“When a salesperson concludes a meeting, our model automatically detects for future action and offers proactive suggestions for composing a follow-up email,” Bendov explained. “Leveraging the call’s discussion of next steps and potentially other contextual cues from the ongoing deal (including other people involved and previous communications), the template assists in drafting the email.”
Custom AI models that meet specific business needs
Gong said he is actively working with customers to tailor his AI capabilities to their individual needs. The company announced that the advertising platform Gastronomic announcements has already implemented Gong’s Call Spotlight feature to improve the productivity and efficiency of their sales reps.
“Call Spotlight is dramatically reducing the time my team spends consuming information during the sales prospecting process by quickly bringing out call highlights, outlines and next steps without having to listen to the calls,” said Benjamin Christie, president of Gourmet Ads in a written statement. “His ability to accurately understand and convey the context of sales conversations is transformative.”
Similarly, the company offers a customizable AI model called Smart Tracker, which is a user-trainable AI system designed to identify concepts and context, rather than relying on specific keywords. Gong asserts its distinction as the only player in the industry that grants users the ability to train and customize the model to their unique needs.
“Searching and filtering customer interactions for keywords alone has some important limitations: It is nearly impossible to create an exhaustive list of keywords, and depending on the context in which a keyword is being used, it may even be flagged for wrong meaning,” added Bendov. . “Smart Trackers capture the limitless variation in how a rep or customer can communicate a concept, which in turn offers much greater accuracy: they find up to 80% more occurrences, with up to 80% more less than errors”.
What is Gong’s future?
Bendov said the future vision for the platform revolves around building a fully self-contained system that is suitable for revenue teams. The company perceives Generative AI as a “co-pilot” for sales professionals and strives to eliminate mundane tasks like data entry into CRM. Furthermore, he strongly believes that AI will play a vital role in providing insights to support informed decision-making and optimize various day-to-day processes for sellers.
Bendov said some professions will eventually see a complete replacement driven by AI, similar to the paradigm shift experienced during the industrial revolution.
“In three years, I haven’t seen people agreeing to work at a company that requires them to fill out forms manually,” Bendov said. “We believe AI will not replace humans for most applications, but it will greatly speed up many of the mundane tasks in such a profession. In the sales domain, it’s possible that the sheer outreach of email could be fully automated; o 90% automated and the remaining 10% transferred to other functions within the organization.
VentureBeat’s mission it is to be a digital city square for technical decision makers to gain insights into transformative business technology and transactions. Discover our Briefings.