Uniphore is adding video analytics to its portfolio through the acquisition of Emotion Research Labs. The former is best known as a developer of speech and voice recognition technology, while the latter uses emotion detection and eye tracking to record and analyze video interactions in real time. Most notably, Emotion Research’s technology can help determine someone’s level of engagement during a video session.
Uniphore plans to combine its own speech tech with Emotion Research’s tech to analyze video sessions and generate data that can be used to deliver better user experiences. To that end, the solution will help enterprises identify and categorize key behavioral indicators, which will in turn allow those businesses to respond in a more productive fashion.
The two companies did not disclose the terms of the sale, but confirmed that Emotion Research Labs staff would stay on with Uniphore and continue work on new solutions that are expected to hit the market before the end of the year. Uniphore believes that the automated solution will have potential applications in a number of different fields, including sales, marketing, and customer service. It also noted that COVID-19 has created a much greater demand for remote networking solutions in virtually every industry.
“This current pandemic has reshaped traditional customer service and increased the use of video across a range of applications,” said Uniphore Co-founder and CEO Umesh Sachdev. “I am excited to have the Emotion Research Lab team join us as we work together and bring our customers the next generation of innovations in AI and automation.”
“We are looking forward to this unique opportunity to join such an innovative company and work together alongside a world-class team to scale our technology for customer service,” added Emotion Research Lab Co-founder and CEO Maria Pocovi.
Allied Market Research has predicted that the market for emotion recognition technology will hit $33.9 billion by 2023. MarketsandMarkets, on the other hand, expects it to climb to $56 billion by 2024.
January 21, 2021 – by Eric Weiss