Cisco and Mistral AI Launch AI Agent to Streamline Customer Experience and Renewal Processes

Cisco and Mistral AI Partner to Launch AI Agent to Streamline Customer Experience

The AI agent is expected to reduce renewal proposal time by nearly 20 percent, with potential growth. Networking and security company Cisco and French artificial intelligence (AI) startup Mistral AI have jointly launched an AI agent for automating tasks and optimising workflows, thereby enhancing customer experience (CX). In a joint statement released Monday, the companies said the AI Renewals Agent "greatly enhances and streamlines the renewal proposal creation process at Cisco" by consolidating both structured and unstructured data from over 50 signals and sources and providing real-time sentiment analysis, summarised recommendations, intelligent automation, and personalisation, tied to customer outcomes and key performance indicators (KPIs). Also Read: Mistral AI to Build First Data Centre in France: Report Built using a custom AI model, the solution operates on-premises, ensuring data security, privacy, and compliance as well as empowering performance tuning and cost optimisations. The companies estimate that the AI agent solution could reduce the time spent building a renewal proposal and preparing for customer engagement by nearly 20 percent, a figure that is expected to grow as the AI agent improves through usage and further workflow automation. Also Read: Qualcomm and Mistral AI Partner to Bring Generative AI to Snapdragon Devices According to the joint statement, this is the first of several AI agents being developed by Cisco with Mistral AI as a strategic technology partner to help drive Cisco's Customer Experience (CX) towards an Agentic-AI-Led future. "Mistral AI is a critical partner for Cisco Customer Experience (CX) as we build towards an Agentic-AI-Led future," said Liz Centoni, Executive Vice President and Chief Customer Experience Officer at Cisco. "In addition to cutting-edge AI technology, Mistral AI shares our mission to put the customer at the center of everything we do. The AI Renewals Agent is an important milestone and the first of many innovative solutions that we're going to build together. The impact on our teams is also significant as we continue to look at opportunities to simplify and reduce friction in their jobs." Also Read: SAP Expands Its Partnership with Mistral AI to Broaden Customer Choice "This announcement marks another significant milestone in our strategic partnership with Cisco," said Arthur Mensch, CEO of Mistral AI. "It demonstrates how GenAI can enhance access to rich and complex information sources, deliver critical value to Cisco's customers and ecosystem, and save considerable time for all stakeholders involved."

Cisco Partners with AI Startup Mistral AI To Speed Product Renewal Times

The tech giant's new AI agent designed in collaboration with Paris-based startup Mistral AI signals an advancement in Cisco's own AI-led Customer Experience (CX) initiatives. Cisco Systems has joined forces with French AI startup Mistral AI for the creation of an AI agent that the two companies say will cut down on product renewal times for Cisco's own renewal team. Paris-based Mistral, which was founded in 2023 by former Google and Meta employees, specializes in open-weight large language models (LLMs). The new custom AI agent will be just one of several AI agents being co-developed by Cisco and Mistral AI as part of its strategic technology partnership, the two companies said. Mistral AI is funded by about 40 investors, with Cisco being one of the more recent investors, according to Crunchbase. [Related: Cisco Amplifies AI Security With AI Defense] The AI Renewals Agent will simplify processes for Cisco's internal Renewals team by pulling in and analyzing data in real-time from 50 different sources to build custom proposals that can be tied to specific customer outcomes, according to San Jose, Calif.-based Cisco. The AI model will also ensure data security, privacy, and compliance because it works on-premises, the two companies said. Cisco said that automating these processes will help the company further enhance customer experience, a big focus for the tech giant in recent years. Cisco has estimated that the AI Renewal Agent could reduce the time spent building a renewal proposal and preparing for a customer engagement by as much as 20 percent initially. The company said that will improve as usage of the AI agent increases. "Mistral AI is a critical partner for Cisco Customer Experience (CX) as we build towards an Agentic-AI-Led future," said Cisco's Chief Customer Experience Officer Liz Centoni in a statement published on Monday. "The AI Renewals Agent is an important milestone and the first of many innovative solutions that we're going to build together. The impact on our teams is also significant as we continue to look at opportunities to simplify and reduce friction in their jobs. By combining our large data set, customer trust and Mistral's industry-leading technology, we are on our way towards shaping the future of customer and employee engagement." Mistral's most recent funding round was in June when the company landed $640 million in a Series B funding round.

Cisco Unveils First Jointly Developed AI Agent From Mistral AI Partnership - What's On The Cards? - Cisco Systems (NASDAQ:CSCO)

AI-powered tool improves workflow efficiency and customer satisfaction. Shares of digital technology major Cisco Systems Inc. CSCO are trading higher on Monday. The company has introduced an AI solution in collaboration with Mistral AI, signaling a major advancement in its Customer Experience (CX) initiatives. The AI Renewals Agent, the initial product in a series of AI tools co-developed by Cisco and Mistral, simplifies the renewal proposal process by processing data from more than 50 sources. "The AI Renewals Agent is an important milestone and the first of many innovative solutions that we're going to build together. The impact on our teams is also significant as we continue to look at opportunities to simplify and reduce friction in their jobs," said Liz Centoni, Executive Vice President and Chief Customer Experience Officer, Cisco. It delivers tailored recommendations, sentiment analysis, and automates tasks, enhancing customer interaction and satisfaction. The tool targets a 20% reduction in time spent creating proposals. Significantly, the AI Renewals Agent runs on-premises, ensuring data security, privacy, and compliance while optimizing costs and performance. Also Read: Software Company SolarWinds Agrees To Go Private In $4.4B Deal Arthur Mensch, CEO, Mistral AI, stated, "It demonstrates how GenAI can enhance access to rich and complex information sources, deliver critical value to Cisco's customers and ecosystem, and save considerable time for all stakeholders involved." In January, Cisco unveiled Cisco AI Defense, a solution aimed at facilitating and safeguarding AI transformation for businesses. Founded in April 2023 by former engineers from Google DeepMind and Meta, Mistral also has investment from Microsoft. In 2024, Mistral raised $645 million in funding, reaching a valuation of $6 billion. Price Action: CSCO shares are trading higher by 0.83% at $62.79 at the last check Monday. Read Next: Intuit's AI, Market Expansion Position It For Long-Term Growth Photo via Shutterstock. CSCOCisco Systems Inc$62.790.84%Overview Rating:Good62.5%Technicals Analysis1000100Financials Analysis400100WatchlistOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs