Zoom Announces Zoom IQ Expansion + Use of OpenAI

Today at Enterprise Connect,  Zoom Video Communications, Inc. (NASDAQ: ZM) announced the expansion of Zoom IQ, a smart companion that empowers collaboration and unlocks people’s potential by summarizing chat threads, organizing ideas, drafting content for chats, emails, and whiteboard sessions, creating meeting agendas, and more. The company also announced it will use OpenAI to bolster its unique federated approach to AI based on flexibility.

Zoom’s federated approach to AI leverages its own proprietary AI models, those from leading AI companies– such as OpenAI –and select customers’ own models. With this flexibility to incorporate multiple types of models, Zoom’s goal is to provide the most value for its customers’ diverse needs. These models can also be customized to perform better for a customer, based on their vocabulary and requirements.

“Zoom has long built AI solutions into our products to empower customers to be more productive,” said Smita Hashim, chief product officer at Zoom. “We are excited to bring many more capabilities with new large language models. Our unique approach to AI will give customers the flexibility they want and help significantly improve collaboration and customer relations.”

In today’s work environment, workers find it increasingly difficult to balance workday priorities between emails, team chats, meetings, and project management tasks. Teams are also looking for ways to better co-create effectively in real-time. To help solve these challenges, Zoom IQ will have a host of new capabilities scheduled to release soon, including:

  • Zoom IQ chat compose: Zoom Team Chat users can soon use the compose feature to help compose messages based on conversational context in addition to changing message tone to customize suggested responses.

  • Zoom IQ email compose: Harnessing the power of Generative AI, users will get email draft suggestions in response to the conversational context from prior Zoom Meetings, Zoom Phone calls, and email threads. Available initially in Zoom IQ for Sales.

 

  • Zoom IQ meeting summary: Generate a summary, capture next steps, and share via Team Chat, Zoom Calendar, and email without recording the conversation, so those who didn’t attend will no longer have to sit through lengthy recordings.

Additionally at Enterprise Connect, Zoom is showcasing the following innovations to make teamwork more meaningful and strengthen customer relationships:

 

  • Zoom Huddles (formerly Zoom Spots) is a new video-enabled virtual coworking space designed to foster ad-hoc discussions and relationship building, to replicate the “working alongside” aspect of an open office and encourage free-form video-first conversations. Zoom Huddles is now available globally for customers to request early access by visiting the product page.

  • Intelligent Director uses multiple cameras in a Zoom Room to determine the best angle of the individuals in the room to display within the meeting. With high-quality, reliable video and voice, Intelligent Director also provides a best-in-class experience for remote participants. Available in beta soon.

  • Zoom Scheduler makes it easy to find the perfect time for meetings by sharing the host’s availability so others (even external participants) can conveniently book appointments. Zoom Scheduler reduces the back-and-forth hassle of manual scheduling by placing a meeting on the host’s calendar with a Zoom Meetings link already included, saving both participants time. Zoom Scheduler works seamlessly with Zoom Meetings and Zoom Mail and Calendar, and integrates with Google Calendar and Microsoft 365, so hosts can use their preferred calendar.

Read Zoom’s Enterprise Connect blog to learn more about what Zoom will be showcasing.

TransferMate announce new embedded payments solution for banks and FIs

TransferMate have today announced the launch of ‘TransferMate Connect’, an integrated payments solution for banks and financial institutions to deliver faster and more cost-effective payments products and services for their customers.

TransferMate has built the largest non-bank payments infrastructure in the world, covering more than 140 currencies and over 200 countries. Through TransferMate Connect, banks and financial institutions can integrate with this network and instantly expand their global reach, giving them the ability to pass on its benefits to their own clients.

Banks and FIs will be able to build new cost-effective, fast, and secure payment propositions, allow their clients to set up trading capabilities in new territories quickly and at low-cost, and create or expand revenue streams generated by the funds moving through the network.

“TransferMate Connect is a single technology providing a global payments gateway for banks and Financial institutions to streamline their exiting multiple correspondent banking systems into one interface” said Sinead Fitzmaurice, CEO of TransferMate. “With our extensive global network and the world-class compliance and security underpinning it all, we believe TransferMate is leading the evolution of how money moves around the world.”

A unique part of the proposition is the ability of banks and financial institutions to also integrate with another TransferMate product, Global Accounts, and again give their clients the capacity to leverage it for their own benefit.

Global Accounts allows users to open local bank accounts in over 30 currencies, creating their own international banking network where they can hold, pay, and store currencies in a way that suits them. It significantly reduces transaction fees and FX costs for users, allows for better control over international cash flows, and exponentially speeds up the ability of a user to set-up a banking presence in a new territory.

“This complete package of solutions is truly innovative, and unmatched in the marketplace” said Terry Clune, Group CEO of the Clune Tech Group and founder of TransferMate. “We’re allowing banks and FIs to immediately create new products and services, or improve existing ones, and put them into market without causing any friction for their clients. I believe it’s going to give them a real competitive advantage in the marketplace.”

For more information on TransferMate Connect, go here.