Artificial Intelligence Use in Customer Service Is Rising

More and more, companies are shifting towards artificial intelligence (AI) as its first point of contact when it comes to customer service. The movement towards AI is already happening, which can only fuel exchange-traded funds (ETFs) focused on this type of disruptive technology. Per a Forbes article by Unabel cofounder Joao Graca, a "2019 report found that 24% of customer service teams were already using AI and 56% were seeking AI opportunities. And when used wisely, it's working: Among teams employing AI for customer service, 82% reported increased first contact resolution (FCR) rates, while 79% reported increased CSAT or Net Promoter scores." The article noted five ways, in particular, where AI would benefit customer service.