If you want to see if the Gig Economy is still booming, look no further then venture capital. Earlier this month NewtonX, an AI-based search engine aiming to connect executive-level subject matter experts to C-Suite decision makers in any industry, announced a $3 million funding round from XFund, Third Prime Capital, and a few other investors. Think of it as UberBLACK but for executive query. The service connects governments, corporations, financial services firms, and startups with answers to questions not easily, it at all, found on the web.
NewtonX’s search technology, developed by a former Google engineer, uses algorithms to parse questions for domain knowledge. It compares its results with a database of thought leaders such as CEOs, board advisers, speakers and academics, then it reaches out to them for insight and recommendations. The executive subject matter experts simply creates a profile, fills out a form, and can start accepting query requests from NewtonX’s customers. Automated scheduling and billing tools manage the rest.
The idea of connecting experts to expertise seekers is hardly new but as more people see how much easier technology has made side hustles easier to get, to manage, and the make money from, the more interest everyone has in participating.
In the 2018 Aspect Agent Experience Index survey, 84% of agents who said they were interested in being a Gig agent said the ability to make more money was driving their interest. But from a company’s perspective, one of the appealing benefits of the Gig Economy in customer service is being able to tap into experts who have firsthand knowledge of the issue needing resolution.
According to Ian Jacobs, Principal Analyst, Forrester Research, access to “new – and better educated – talent pools” in addition to being able to deliver faster response times, and reduce the cost per interaction, is driving interest from organizations.
But what is most interesting about the NewtonX service is the addition of AI. The more specific the issue, the more specific the expertise. By intelligently connecting experts to askers and answers to questions, the greater likelihood that people looking to get advice and insight on very specific issues, will get the exact help at the exact time.
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