gonga number one provider of revenue intelligence software, quietly announced Thursday that its artificial intelligence is transforming enterprise sales teams, driving measurable improvements in productivity and revenue growth.
The company has published one In-depth evaluation conducted by Gong's research department, which examined greater than 1 million sales opportunities across nearly 1,500 customers. The results showed that sales reps who used Gong's AI-powered features like Smart Trackers and Ask Anything achieved significantly higher success rates than those that didn't use the technology.
Particularly teams that use the next Smart trackers, which discover key business characteristics through natural language processing, achieved 35% higher success rates. Ask Anything, which allows sales reps to quickly gain insight by querying accounts and deals, resulted in a 26% higher success rate.
“The two keys to Gong’s solution – and to effective AI usually – are translating AI into meaningful business processes or insights; and ensuring the AI is accurate,” said Eilon Reshef, co-founder and chief product officer at Gong, in an exclusive interview with VentureBeat.
Reshef explained that Gong's AI is rigorously designed to rework raw data into meaningful recommendations and workflows for sales teams. “To achieve impact, the models don’t work in a silo. Instead, all of Gong’s AI is integrated into the sales teams’ workflows inside Gong.”
According to Reshef, this integration is vital to driving adoption and business impact across all roles, from individual representatives to executives. He provided examples corresponding to using AI to flag at-risk deals for management and routinely generating personalized email follow-ups for sales reps.
The growth of AI within the enterprise sales market
Gong's findings come at a time when AI adoption within the enterprise sales sector is increasing rapidly. Since releasing ChatGPT in November 2022, Gong reported an enormous 2,200% increase in AI-related sales conversations.
Emails written with Gong's AI writing assistant have increased 464% since February 2023. This suggests that sales teams are quickly integrating AI into every day workflows to extend productivity.
Accordingly Forrester ResearchSales professionals spend as much as 77% of their time on non-sales activities corresponding to administrative work and manual data entry. AI can save plenty of time by tackling these tedious tasks.
For example, Gong customers said AI saves employees the necessity to review lengthy call recordings or conduct handoff meetings by routinely surfacing key insights. AI also reduces the time spent manually entering data and writing emails.
“Representatives not must attend handoff meetings and even review and hearken to entire call recordings, as AI identifies the important thing moments they’re in search of and summarizes essentially the most relevant information,” Reshef explained.
The Role of Accuracy and Training in Enterprise AI
A key differentiator of Gong is its deal with highly accurate AI outputs tailored to sales scenarios. This is achieved by training models on billions of real sales conversations in comparison with general web data.
“While people can tolerate semi-accurate data, accuracy becomes paramount once firms must drive aggregate analytics, not to say workflows. “That’s Gong’s goal with our generative AI accuracy,” Reshef said.
Gong employs security measures corresponding to pre-filtering training data and examining real-world distributions to scale back bias in AI communication in comparison with general-purpose AI tools.
Reshef noted that Gong's AI often outperforms standard solutions like ChatGPT, not only in accuracy but additionally in performance. For example, Gong's Next Steps feature delivers twice the accuracy of generic tools when representing motion items from customer interactions.
The way forward for AI in corporate sales
As AI becomes more integrated into sales processes, Reshef expects the technology to maneuver beyond point solutions to orchestrate entire sales workflows from onboarding to cross-selling.
Gong's roadmap includes rounding out Ask Anything across an entire business and account history and further improving accuracy.
“While Gong today focuses on specific workflows corresponding to sales engagement, coaching, forecasting and the like, we are going to soon give you the chance to leverage AI to drive a way more diverse set of workflows and improve productivity across a fair broader set of business roles “Reshef commented.
This AI-powered workflow automation will reshape the role of sales reps. Instead of replacing humans, AI takes over administrative and data tasks, freeing employees to deal with constructing customer relationships and higher-value activities.
Gong's ability to rework raw data into insights that increase productivity, pipeline visibility and revenue illustrates the transformative potential of AI in sales. As more teams follow Gong's lead, AI-human collaboration appears poised to power the following evolution of sales performance.
