ServiceNow To Acquire AI Chat Startup Passage AI

Santa Clara-based cloud computing company, ServiceNow, has announced the acquisition of a conversational AI platform Passage AI. Though ServiceNow has not revealed any financial terms of the deal, besides, it expects to settle the purchase till the first quarter of 2020.

This acquisition will flourish ServiceNow’s AI potential and boost its aim of supporting all languages, which are extensively used across the globe via the firm’s Now Platform and products comprise Service Portal, Workspaces, ServiceNow Virtual Agent and emerging interfaces.

ServiceNow’s new CEO, Bill McDermott said, the firm is keeping an eye on developing digital products and workflow, especially for telecom and banking sectors, whereas ServiceNow will look forward to widening its market by collaborating with the giants like Accenture and Deloitte. In 2016, Madhu Mathihalli, Ravi N. Raj, and Mitul Tiwari together founded Passage AI as a conversational build-in deep learning model to understand the text in all languages majorly used globally. It has raised $10.3 million to date. Through ServiceNow’s Now platform and digital workflow potential, Passage AI’s will bring its conversational AI capabilities.

On the other hand, ServiceNow will widen its chatbot support for non-English languages and will empower firms to comprehend every single detail about the work requests, to make the work process convenient, driving customer success, and get the job done. 

ServiceNow’s senior director of AI Engineering Debu Chatterjee said, establishing deep learning conversational AI competence into the Now Platform will open the gates for us to initiate the work request in German or initiate for a customer inquiry in Japanese decoded through Virtual Agent.

Earlier this announcement, ServiceNow had purchased Israeli’s IT management AI platform Loom Systems with an undisclosed amount.

California’s Enterprise Software startup Parlo, Attivio, Boston’s software company, San Francisco’s AI-powered, FriendlyData, social media app, Qlue, and Fremont’s DxContinuum are among its AI acquisitions.

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