Client - Cognicor Technologies Inc, USA
Duration - 3 months for the first phase
Role - Lead Product Designer
Team Size - 10
Categories - Conversational AI, Wealth Management, Enterprise App
About Client
Cognicor is a market leader in the US, providing conversation AI solutions to enterprises in Wealth Management. Cognicor, is one of the primeval companies to enter into the market of chatbots, which is better called Digital Assistants (DAs) as they are sophisticated and intelligent.
Context of this project
Rise of business problems
In the early days of Cognicor, with its proprietary technologies, built DAs for enterprises in Finance and IT and managed them for clients. As they added more clients, they face the following problems
- Cost of Scalability of Operations - Each project needs a large team to develop and maintain it adding to the expenses. Though many artefacts and codes can be reused for every project, there was no system in place to do it, eventually taking many months to create a project.
- Lack of Customer Participation - Customers have to depend on Cognicor for any changes or additions to the DA which again lacks transparency and caused high turn-around time. Enterprise customers have a lot of data, but they want to control it by themselves.
- Scattered Project - The team used multiple tools and platforms to build different modules of the DA, which made it difficult to manage and collaborate.
- Market growth and competition - The conversational AI was evolving swiftly and many competitors rose. Though nascent in technology they provided customer-facing solutions to create the chatbots.