Rana Gujral, CEO of Behavioral Signals Shares His Expertise on Emotion Detection in Voice (Episode 160)
Welcome, Rana Gujral
Rana is an exceptional forward-looking visionary, who is the CEO of Behavioral Signals. He has spent his career working as an investor, executive, and entrepreneur with extensive experience in enterprise software, product development, strategy, business-building, and emerging markets. Rana was awarded the ‘Entrepreneur of the Month’ by CIO Magazine and the ‘US-China Pioneer’ Award by IEIE. Rana was also listed among the Top 10 Entrepreneurs to follow in 2017 by Huffington Post.
How Rana Got Started?
Rana was initially tinkering around with various products and technologies which led to tinkering with companies. Rana had been building products and when he was focused on corporate setups, he had an amazing opportunity to build a time and attendance device called Kronos. Kronos ended up being a mega success and was part of the Google TV journey, which was a precursor of the Chrome Stick.
What is the Core Focus of Behavioral Signals?
The core focus is on introducing intelligent and actionable insights from the tone of voice.
Rana believes that technology changes at a very fast pace and because of that, we really need to look at least a decade out or so.
Ian Posed a Very Interesting (Hypothetical) Question to Rana
Ian posed this scenario: if a financial institution asked Rana and his team to lay out a strategy for what they should do by 2030 and gave them a total budget of $100 million, how much time would be allocated from his team the first year vs. the following nine years?
Rana mentioned that they have been thinking about these types of things and have been looking far ahead in order to plan for changes in the business model. Some important subjects that come to Rana’s mind are how am I going to stay relevant and leverage certain technologies that help me remain solvent. In addition, he would also evaluate how he would continue to base relationships with his clientele. Rana believes that the financial sector is inefficient, out of date, and largely driven by human operators and analysis, which may be flawed.
Rana also mentioned that it is a very transactional relationship but on the same token, you are easily replaceable and there is no customer loyalty. Some important factors to consider are how are you going to build trust and continue to use capabilities that allow you to preserve the trust that you do build.
Rana posed an interesting question, “Can engaging with clients be done in a meaningful way where those relationships can go beyond the basics?”
Rana shared that the rest of the investment would be dedicated to building trust and relationships and managing experiences.
Rana predicted that multi-million-dollar companies will disappear overnight unless they have something more tangible tied to empathy, relationships, and trust.
Where Does Rana See the Best Usage of Vocal Biomarkers and Voice Inflection?
Rana believes that most touchpoints happen at a call center and that is the most tangible touchpoint between the client and the corporation. It is important to maximize those interactions.
Rana mentioned three phases to this stage:
1) Prior to the conversation
2) During the conversation
3) When the conversation has ended
Rana believes that client interactions are simply good or bad matches and by focusing on making more good matches you are going to get better business results in a business. Utilizing intelligent biomarkers to understand conversational rhythms combined with AI-based matchmaking can yield magical business outcomes. Rana mentioned that doing this can generate a 10% to 15% revenue increase for businesses in the financial sector.
Learn More and Connect with Rana Gujral and Behavioral Signals
Behavioral Signals Website
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