AI

AI Meeting Assistant isLucid Jumps on Microsoft Teams Corporate Bandwagon

Meet Vytenis Pakenas, CEO and Co-founder of Lucid Agreements

New York, United States, Jan. 12, 2022 (GLOBE NEWSWIRE) — Welcome to the tip of daunting process administration after on-line conferences. Any further it is a couple of clicks away and as soon as you permit the decision your work is completed. Microsoft cherished the concept and signed a brand new partnership in Europe. That is how Microsoft Groups has landed a brand new inner app with a novel characteristic. IsLucid is a great digital assistant for convention calls that may lastly flip our voice to textual content to duties in venture administration techniques akin to Jira, Azure DevOps, and others.

“We intention to save lots of time often wanted for process administration and to seize extra particulars that may have an effect on the standard of venture implementation” says Vytenis Pakenas, CEO and Co-Founding father of Lucid Agreements, the corporate that developed isLucid.

He estimates that after a one-hour assembly, contributors often want at the least a further 15 minutes to compile follow-ups and assign duties. On common, one supervisor has about 12 conferences every week. This interprets to at the least 156 hours a yr, or round one-month full-time only for creating and managing duties that had been raised throughout the conferences.

Lucid Agreements, an organization based mostly in Northern Europe, can be deepening its partnership and integration with the US big’s communication platform. The startup turned the primary Microsoft companion emigrate its billing system from Stripe on to the Microsoft Commerce platform and MS Groups.

Because of this isLucid subscription can now be paid for by a single account, along with a fee for Microsoft product licenses.

Compared, the everyday strategy of incorporating new instruments into the day by day lifetime of an organization is way more sophisticated: often, an worker or a workforce finds what is required and exams the answer. If it suits, it’s typically obligatory to jot down requests for extra funds for these new instruments. Additionally, fairly often managers reply with the IT finances in thoughts.

“Whereas caring for our prospects who must attempt our product first, and understanding the hectic buying process for a lot of SaaS choices, we seen the chance Microsoft has created. We are able to now provide SaaS expertise, assisted with MS company data below the identical finances line as the vast majority of well-known Microsoft merchandise,” Vytenis explains.

He provides that the Microsoft ecosystem makes life simpler for companies. Deep integration permits prospects to give attention to work and merchandise, because the ecosystem itself removes boundaries and supplies instruments for environment friendly growth and gross sales.

IsLucid, after including the app to a convention name within the MS Groups atmosphere, can transcribe conversations in real-time. It additionally detects potential duties, and permits the consumer to instantly add verbally agreed assignments to venture and process administration techniques.

Vytenis states that isLucid is the primary native app in its class within the MS Groups ecosystem. At present, neither on MS Groups nor on different distant assembly platforms like Zoom or Slack are there analogous options. Particularly those who cowl the complete cycle from verbal to written to process administration techniques in real-time.

COVID-19 child

One would possibly say that Lucid Agreements is a COVID-19 child.

“We began in 2019 after I offered my earlier enterprise — an IT providers firm. The expertise gained there and in a number of different companies with IT and managerial roles confirmed me that many oral duties, preparations, or particulars are misplaced after conferences. This lesson turned the muse of a brand new enterprise — that is how isLucid took place.”

He tells the story of turbulent beginnings. First, Vytenis and several other like-minded folks deliberate to create an app for work directions so that everybody within the firm at any given time limit knew who’s chargeable for what. Nonetheless, after consulting with traders (Katalista Ventures) and testing the proof of idea, it was determined to show it right into a contract app. It was speculated to be an answer for individuals who deal with a number of issues over the telephone — a form of precaution that evidences what either side agreed.

“We made a model that all of us preferred, after which contacted and befriended Google’s Android functions help workforce. The U.S. big’s head workplace even helped us redesign the app. Quickly after, COVID-19 struck. The world immediately stopped, and we noticed a big drop in utilization. We might have both waited for the pandemic to go — we most likely would have waited till now — or give you an answer to use it to distant work,” says the CEO.

The answer introduced itself in a type of Microsoft API.

“Again in 2019, a bit earlier than the pandemic, we had been analyzing which method to transfer subsequent and obtained the information that Microsoft was opening audio stream from MS Groups to exterior resolution suppliers like us. In March 2020, we used early beta APIs to entry the audio stream”, the entrepreneur remembers.

“We had been among the many first on the planet to do this. We even obtained by to Redmond (Microsoft headquarters) they usually noticed that we had been taking this critically. We’ve obtained a number of help from Microsoft”, he provides.

Lucid Agreements is backed by Coinvest Capital along with enterprise angels from LitBan, Katalista Ventures, and Startup Sensible Guys, with a lately closed spherical of $400k.

Now, in keeping with Vytenis, the corporate focuses on advancing its assembly assistant by making it extra human, in addition to privateness and knowledge safety. For instance, it provides identification with MS account and safety options.

“We wish prospects to make use of IsLucid to enhance their experiences within the MS Groups ecosystem with out giving freely any delicate knowledge. Our synthetic intelligence learns from stay voice-first dialog and doesn’t retailer any audio info. The transcribed textual content is saved on our servers, however buyer knowledge is separated and remoted; everybody has their very own database,” says the pinnacle of Lucid Agreements.

As for the longer term, encryption with the shopper key and different thrilling enhancements are coming.

For the unique information story, please go to https://prdistribution.com/information/ai-meeting-assistant-islucid-jumps-on-microsoft-teams-corporate-bandwagon.html

Vytenis Pakenas and Gabija Visockyte, Co-founfers of Lucid Agreements

Vytenis Pakenas and Gabija Visockyte, Co-founfers of Lucid Agreements

CONTACT: Media Firm: Successful media group, Media Title: Roberta Semetaite, Media Telephone: +37061965190, Media E-mail: hey@profitable.lt Media URL: http://www.profitable.lt/en

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