France's Teleperformance signs $185 million deal with Microsoft

France's Teleperformance, a privately owned outsourcing firm, signed a $185 million deal with Microsoft on Tuesday, ahead of its artificial intelligence investor day. Teleperformance SE will take part in a virtual meeting with its AI experts on Wednesday to let investors peek behind the curtains of its efforts in the AI race. ChatGPT, an AI algorithm that can be utilized to create new content such as audio, text and simulations, will enhance efficiency, accuracy and customer experience. Teleperformance, a company that employs 410,000 staff in 170 countries, organizes conference calls, maintains pay and salary accounts, and offers automated translations to clients. Using Azure OpenAI TP GenAI will help automate simple, low-value tasks and enable our staff to focus on what matters most, Microsoft said in a statement, adding that some of its current AI-powered tools are already based on Azure technology. TP GenAI's pilot has seen up to a 25% decrease in call handling time, a 20% reduction in email response times, a 90% improvement in accurately addressing customer needs, a 35% boost in sales conversions, and near real-time insights on customer interactions. As digital developments are rapidly changing, Teleperformance appointed Bhupender Singh as the deputy chief executive of Teleperformance on Monday. This follows the agreement to buy Majorel in April for €3 billion $3.27 billion, which will make it the industry's top actor with annual revenue of 1 €2 billion. Teleperformance said it expects that within the next few years, 20 percent to 30 percent of its processes will be automated.