Coveo (TSX:CVO), a leader in AI platforms that transform digital
experiences with intelligent search, recommendations, 1:1
personalization, and merchandising, announced today the official
field launch of the
Coveo Relevance Generative
AnsweringTM Design Partner Program with
18 large global customers, giving them access to the beta solution
for testing at enterprise scale. Coveo also announced an early
adopter offer, limited to current enterprise customers. Today, the
product will be unveiled and demonstrated with live enterprise data
at the Coveo Relevance 360 event in Menlo Park, California.
The Coveo Relevance CloudTM, a
world-leading Relevance AI Platform, now offers enterprise grade
Generative Answering that brings factually accurate and
contextually relevant question answering, combined with enterprise
grade security from multiple sources of enterprise content.
Coveo Relevance Generative Answering brings Large
Language Models (LLMs) technology on top of the secure unified
indexing and relevance capabilities of Coveo's market-leading
Relevance Cloud AI platform. This makes generative answering using
LLMs applicable within enterprises, where security, privacy,
factuality, real-time sources of truth, relevance, and access to
multiple sources of content are all key imperatives. This is more
than a decade in the making, building on Coveo’s powerful Relevance
Cloud AI Platform.
“We have seen unprecedented customer
interest in Coveo Relevance Generative Answering,
and we look forward to demonstrating its power for the enterprise,”
said Louis Tetu, Chairman and CEO at Coveo. “Our strategy has been
last-to-hype, first-to-results, building on our leadership in large
scale enterprise search and relevance. Generative AI is the natural
extension of our Coveo Relevance Cloud AI Platform, which already
included LLM-powered functions since 2021, as it can feed LLMs with
the unified secure indexing, security, privacy and relevance all
necessary for enterprise compliance at scale. Coveo Relevance
Generative Answering solves the key CIO headaches with generative
AI, such as hallucinations, veracity, security, privacy and a lack
of source of truth which are hindering enterprises from leveraging
this technology in a brand safe way. Our platform creates the
spinal AI capability enterprises need to deliver modern,
intelligent and conversational experiences at scale. Enterprises
that don’t adopt this type of AI capability, will compete against
it.”
Coveo Relevance Generative
Answering capability is designed to solve eight critical
challenges:
- Unsecure Environment – The Coveo Relevance
Generative Answering solution is built on top of Coveo’s secure
indexing at its core. Robust security measures protect valuable
assets, ensuring that data remains secure throughout the generative
answering content generation process.
- Lack of Confidentiality and Privacy – Coveo
Relevance Generative Answering protects confidentiality and
privacy, ensuring that valuable data remains secure within
organizational boundaries and proprietary content is not shared
with public engines, or used in a generated answer.
- Hallucinations or Lack of Accuracy – Leading
brands cannot hallucinate. The Coveo Relevance Generative Answering
capability maintains factual accuracy at scale without compromising
brands credibility.
- Outdated Facts & Answers – Coveo Relevance
Generative Answering leverages real-time data sources from the
unified index, enabling answers to be generated that are consistent
with enterprise content.
- Non-Compliancy and Validity – Coveo Relevance
Generative Answering establishes seamless links with sources of
truth, allowing users to verify and validate the accuracy and
credibility of generated answers.
- Content Decentralization – Coveo Relevance
Generative Answering is built on the power of the Coveo unified
secure indexing and enrichment of enterprise content using Coveo
AI. By integrating multiple content sources securely, it enables
exponential growth in generative AI capabilities.
- Siloed Search & Chat Channels – Search and
generative answering should not operate as separate silos; the
future lies in their coherent integration. Coveo Relevance
Generative Answering bridges the gap by delivering a unified and
consistent user and veracity experience across all search and chat
channels, as they are fed from the same unified index and relevance
mechanisms.
- Generative AI Chat is Expensive – By
leveraging advanced search and relevance algorithms, combined with
LLMs, Coveo eliminates the need for costly alternatives. With this
approach, enterprises can get results for a fraction of the cost
typically associated with generative AI, offsetting the fact that
chat can be 100x to 1,000x more expensive than query-based
search.
GenAI Live Product
DemonstrationsToday, customers and prospects will join
Coveo leadership for a conference and a Coveo Relevance
Generative Answering live product demonstration in Menlo
Park, California. For those that missed the opportunity to join the
event, there are two upcoming webinars hosted by Laurent Simoneau,
co-founder, President and CTO at Coveo. Join the webinar to
discover the power of this technology made for the enterprise and
its users.
There are two available dates to see a
live demo webinar, “Go Beyond the Hype. Watch What GenAI Can Do For
Your Enterprise, Now.” Register here.
- June 14th at 11 am ET / 8 am PT
- June 21st at 2 pm ET / 11 am PT
Exclusive Pricing Offer for Early
Adopters“Coveo has been the trusted enterprise applied AI
platform for early adopters in the digital experience space,” said
Louis Tetu. “Our market-leading AI platform, the Coveo Relevance
CloudTM recently celebrated 12 years of delivering relevance
through digital experiences that drive business impact. To
demonstrate our appreciation we are offering our early adopter
customers the opportunity to take advantage of an aggressive early
pricing offer.”
Coveo enterprise customers with
self-service use cases can take advantage of an exclusive offer for
the Coveo Relevance Generative Answering
capability when they enroll by the end of July.
This is only the beginning! With GenAI
part of the Coveo AI platform, Coveo will extend the technology to
various other use cases, including but not limited to: workplace
and website search, commerce digital experiences and additional
customer service use cases like agent assist.
Visit our websiteRead our GenAI
blog
About Coveo Solutions
We believe AI is a competitive imperative to deliver the
delightful and relevant digital experiences people expect, while
maximizing profitability. Coveo accelerates the application of AI
platforms in enterprises, helping them personalize and profitize
every experience at scale.
The Coveo Relevance Cloud™ platform is a market-leading AI
platform that enhances search, recommendations, personalization,
and merchandising intelligence in digital experiences across
commerce, service, website, and workplace applications. Coveo’s
platform includes analytics, AI model testing capabilities, and can
easily integrate into almost any digital user experience a large
enterprise delivers. Our platform is cloud-native SaaS,
multi-tenant, API-first, and headless.
Coveo has been a pioneer in the application of AI within the
enterprise. Our Coveo Relevance Generative Answering capability,
which integrates LLM technologies with Coveo's platform to feed
generative AI with a common, secure unified index and real-time
content, helps to drive relevance at scale, consistent factuality,
secure sources of truth across all channels, and specifically
solves the key challenges found with other generative AI platforms
for the enterprise.
We help hundreds of the world’s leading brands create tangible
financial value. We believe our platform is differentiated by its
sophisticated applied AI, designed to deliver highly relevant,
bespoke digital experiences that drive superior business outcomes.
In addition, our platform’s scalability, rapid time to value,
enterprise-grade security and compliance, and native integrations
with other third-party technology applications set us apart. We are
a Salesforce Summit ISV Partner, an SAPⓇ Endorsed App, and an Adobe
Accelerate Exchange Partner.
Coveo is a trademark of Coveo Solutions, Inc.
Stay up to date on the latest Coveo news and content by
subscribing to the Coveo blog, and following Coveo on
LinkedIn, Twitter, and YouTube. Forward-Looking
Information
This press release contains “forward-looking information” and
“forward-looking statements” within the meaning of applicable
securities laws (collectively, “forward-looking information”),
including as it relates to our Coveo Relevance Generative Answering
capability, its functions and the challenges it is designed to
solve. This forward-looking information is identified by the use of
terms and phrases such as “may”, “would”, “should”, ”could”,
“might”, “will”, “achieve”, “occur”, “expect”, “intend”,
“estimate”, “anticipate”, “plan”, “foresee”, “believe”, “continue”,
“target”, “opportunity”, “strategy”, “scheduled”, “outlook”,
“forecast”, “projection”, or “prospect”, the negative of these
terms and similar terminology, including references to assumptions,
although not all forward-looking information contains these terms
and phrases. In addition, any statements that refer to
expectations, intentions, projections, or other characterizations
of future events or circumstances contain forward-looking
information. Statements containing forward-looking information are
not historical facts but instead represent management’s
expectations, estimates, and projections regarding future events or
circumstances.
Forward-looking information is necessarily based on a number of
opinions, estimates, and assumptions that we considered appropriate
and reasonable as of the date such statements are made. Although
the forward-looking information contained herein is based upon what
we believe are reasonable assumptions, actual results may vary from
the forward-looking information contained herein. Certain
assumptions made in preparing the forward-looking information
contained in herein include, without limitation: our ability to
successfully roll-out our Coveo Relevance Generative Answering
capability with the features discussed and within the intended
timing; our ability to capitalize on growth opportunities and
implement our growth strategy; our ability to attract new
customers, both domestically and internationally; the success of
our efforts to expand our product portfolio and market reach; our
ability to maintain successful strategic relationships with
partners and other third parties; our future capital requirements;
the available liquidity under our revolving credit facility; the
accuracy of our estimates of market opportunity and growth
forecasts; our success in identifying and evaluating, as well as
financing and integrating, any acquisitions, partnerships, or joint
ventures; our ability to execute on our expansion plans; the
significant influence of our principal shareholders; and the future
impact of the COVID-19 pandemic. Moreover, forward-looking
information is subject to known and unknown risks, uncertainties,
and other factors, many of which are beyond our control, that may
cause the actual results, level of activity, performance, or
achievements to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to macro-economic uncertainties and the risk factors
described under “Risk Factors” in the Company’s most recently filed
Annual Information Form available under our profile on SEDAR at
www.sedar.com. There can be no assurance that such forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, prospective investors should not place
undue reliance on forward-looking information, which speaks only as
of the date made.
Moreover, we operate in a very competitive and rapidly changing
environment. Although we have attempted to identify important risk
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
risk factors not presently known to us or that we presently believe
are not material that could also cause actual results or future
events to differ materially from those expressed in such
forward-looking information.
You should not rely on this forward-looking information, as
actual outcomes and results may differ materially from those
contemplated by this forward-looking information as a result of
such risks and uncertainties. Additional information will also be
set forth in other public filings that we make available under our
profile on SEDAR at www.sedar.com from time to time. The
forward-looking information provided in this press release relates
only to events or information as of the date hereof, and are
expressly qualified in their entirety by this cautionary statement.
Except as required by law, we do not assume any obligation to
update or revise any forward-looking information, whether as a
result of new information, future events, or otherwise, after the
date on which the statements are made or to reflect the occurrence
of unanticipated events.
Highwire PRCoveomedia@coveo.com+1 418-263-1111
Coveo Solutions (TSX:CVO)
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