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Vol. 145 Oct 2020
MindSense imbues emotion AI and affective computing to banking, sales, and advertising
Affective computing and emotion AI are booming around the globe. The technologies boast the powers to recognise, interpret, and simulate human affects, enabling businesses to serve customers better and with greater empathy in the everything-online world.

Research says the global affective computing market is projected to grow from US$21.6 billion in 2019 to US$56 billion by 2024.

MindSense is a Cyberport incubatee claiming a foothold in this fast-expanding space. It has already developed a slew of market-leading, proprietary sentiment analysis technologies. Its two commercial products have even been fervently adopted by major banking, insurance, marketing, and retail clients in Hong Kong and the Greater Bay Area (GBA).

MindSense’s first product is a smart telemarketing SaaS platform powered by Emotion AI in speech and NLP. The product enables customers from a variety of industries, including banking and insurance, to conduct emotion recognition and key clues discovery during sales calls.

By leveraging voice and facial sentiment analysis – which not only excel those of market rivals in quality and quantity, but can assess even the intensity of sentiments, the product lets businesses recognise and respond to nuanced customer emotions, thereby enhancing both the service and success rate of telemarketing efforts.

Meanwhile, the start-up’s smart sales and advertising solution is built upon an emotion-based big data platform powered by facial analysis. It enables marketers, advertisers, and merchants to augment their sales and advertising efforts by analysing the facial reactions of customers, using videos or cameras, as they look at products or advertisements, and adjust their sales strategies dynamically.

The system is being adopted by banks, restaurants, retail outlets, and is even being used to gauge citizen satisfaction with public services at several community halls on the Mainland. Customers in finance and sales in Hong Kong have also adopted the system for trials.

“Cyberport is a warm harbour that has provided ample opportunities for us, including connecting and introducing us to some big well-named companies,” said James Deng, Founder & CEO of MindSense. “Also, we have benefitted immeasurably from the many industry meetings and conferences Cyberport hosted or arranged, and have obtained many chances to network with different industries to promote our solutions.”

Earlier this year, MindSense deployed its technologies and developed an intelligent mental health chatbot—called BelieveBot—to help health departments, hospitals, and other healthcare institutions provide online mental health services to the public and to patients for anti-epidemic.

With R&D teams in Hong Kong and Guangzhou and government funding support to the tune of millions of RMB from Hong Kong and the Mainland, MindSense is now eyeing markets beyond the GBA. It is also cultivating new customers in East China.
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