, a company that cloud-based communication and collaboration tools for the enterprise, has acquired conversational AI intelligence startup .
Founded in 2003, Belmont, California-based RingCentral develops a , including contact center software, business phone and messaging systems, video conferencing, and more. As with other platforms that enabled businesses to transition to remote work during the pandemic, RingCentral has fared more than well throughout 2020, with and its share price more than doubling over the past 12 months to an all-time high of $387 today.
Gartner has previously that by 2021, 15% of all customer service interactions will be handled entirely by AI, up 400% from 2017. While that spans all forms of communications, be it social media engagements, email inquiries,