The Dubber Corp Ltd (ASX: DUB) share price has started the week in the red.
In morning trade, the call recording technology company’s shares are down 2% to $3.12
Why is the Dubber share price falling?
Investors have been selling down the Dubber share price today after weakness in the tech sector offset the signing of a deal with telco giant Optus.
According to the release, the company’s Unified Call Recording and Voice AI platform is launching on the Optus mobile network.
The release notes that this represents an Australian first and will see the platform made available as a native feature of the Optus mobile network. As a result, enterprise customers on Optus now have access to a cost-effective and complete recording and conversational insights solution across virtually any form of communication.
Management believes this will fill a gap for users. It highlights that the offering allows enterprise and government users to securely record all mobile calls for compliance, customer, people and revenue intelligence.
The launch is expected to provide an accretive revenue stream for Dubber, with additional revenues ultimately determined by the uptake of the service by Optus enterprise customers.
Management commentary
Dubber’s CEO, Steve McGovern, appeared to be pleased with the deal.
He commented: “With Dubber at the heart of one of Australia’s largest and most critical mobile networks, we are making the native recording available with AI on every participating phone. Optus is expanding its leadership in connecting Australian businesses to their employees and customers and this now includes the ability to try AI based enrichment of conversations with insights, automated workflows, and more. A conversation on Optus’ network is now worth more to a customer through the ability to capture and reveal insights from that conversation alongside others from other Optus services.”
Mr McGovern also believes there is a significant addressable market for Dubber to target with this offering.
He explained: “Optus Mobile Voice Recording and AI powered by Dubber opens up a significant addressable market, provides a key solution where, historically, there has been a tangible compliance gap and represents a significant leap forward in achieving Dubber’s vision of ‘AI for every phone’. Whatever industry you are working in – financial services, healthcare, retail, government, legal, entertainment, travel, or transport – the power of native mobile recording, sentiment analysis, storage, transcription and real-time “search-ability” will be available to you on your Optus mobile service.”
The post Dubber (ASX:DUB) share price falls despite announcing Optus deal appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Dubber Corporation. The Motley Fool Australia owns and has recommended Dubber Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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