Genesis, a customer experience (CX) corporations, presented a blueprint to innovate customer experience through an experience orchestration strategy in the age of artificial intelligence (AI). It also aims to accelerate its assault on the domestic market, primarily targeting financial institutions, through its AI and cloud technology.
On the 22nd, Genesis held a press conference to unveil its 'AI-based customer experience innovation strategy' at the Grand InterContinental Parnas in Gangnam, Seoul. Headquartered in California, Genesis is a leading corporations in the cloud-based CX and contact center solutions sector. Last year, its revenue neared $1.9 billion (approximately 2.621 trillion won) and maintained a net revenue growth rate of over 120% for 12 consecutive quarters, demonstrating customer loyalty and repurchase rates.
Genesis serves approximately 8,000 corporate clients worldwide. According to Genesis, 9 out of the top 10 corporations in the banking sector and 9 out of the top 10 corporations in the healthcare sector utilize its services. In the tech sector, 8 out of the top 10 corporations, and 9 out of the top 10 corporations in business services are also clients of Genesis. Through its cloud platform, Genesis supports various solutions for corporations, including AI model development and deployment, open-source utilization, retrieval-augmented generation (RAG), and AI contact centers (AICC).
Tony Bates, CEO of Genesis, noted that the customer experience environment is undergoing significant changes in the era of AI, emphasizing AI-based experience orchestration. He stated, "30% of consumers leave a brand after just one bad experience," adding that "every touchpoint with consumers is an opportunity to define brand experience, and the core strategy of experience orchestration is to organically connect these touchpoints."
Experience orchestration is a strategy aimed at enhancing service quality by collecting and consolidating information from various channels to match consultants and implement co-pilots. To ensure high-quality data, Genesis is expanding collaborations with global software corporations such as Salesforce and ServiceNow. Additionally, it is offering solutions on the Genesis cloud, including large language models (LLMs) like Llama and local language models, to facilitate the introduction of AI models optimized for corporate services.
Korea is one of the key markets that Genesis is focusing on. In 2020, it established the fifth 'local cloud region' globally within the country. Furthermore, it selected Korea as a Tier 1 nation and supports all AI functions in Korean. Albert Nell, Senior Vice President of Asia-Pacific Sales, remarked, "Korea is proactive in AI investment and shows a high interest in proactive communication and customized services," adding that "Genesis is continuing efforts to apply successful cases secured globally to fit the regulations and needs of the domestic market."
Nell identified four major changes currently redefining customer experience: ▲cloud ▲AI ▲digital ▲social. He stated, "Customer experience is no longer limited to traditional call centers; experience orchestration that connects various channels to form a cohesive journey is necessary," and added that "Genesis is implementing this as an AI-based platform." He further noted, "The Genesis cloud in Korea grew by 35% on an annual recurring revenue (ARR) basis last year, and the number of new clients also increased by over 20%," emphasizing that "this indicates not just a simple transfer of on-premise customers to the cloud but also that new clients are choosing Genesis."
Genesis plans to focus its assault on the domestic market primarily targeting financial institutions. Kim Dong-wook, head of Genesis Korea, stated, "We will focus on creating efficiency and results through the Genesis cloud centered on financial clients," adding that "we will continuously contribute to the digital transformation of domestic corporations and the advancement of customer experience (CX) technology."