Today, customers are at the heart of digitization. Smart companies are using artificial intelligence to better understand their customers, build engagement and offer a hyper-personalized experience. The smart speaker market is forecast to grow at a CAGR of 48% between 2016 and 2020. And our research of over 10,000 consumers shows that more than two-thirds of consumers (69%) consumers are satisfied with their AI-enabled interactions. As Figure 1 shows, the top three attributes they prize are: first, greater control; second, 24/7 availability; and third, faster resolution.
The way consumers interact with businesses is changing dramatically. Organizations are using Artificial Intelligence (AI) for a range of activities such as achieving more sales, improving customer engagement, and speeding up operations. For example, airports around the globe are investing in mobile robots that assist customers with directions. Another example is "Xaiolce," a Microsoft chatbot in China that already has a user base of 200 million with more than six hundred thousand calls during the first ten months of its launch. In this article, we will explore the various ways in which Artificial Intelligence can be just the right armour for winning the battle of customer experience.
These front runners differ in many ways; they discuss a set of key practices they should follow to differentiate themselves while building a customer experience strategy for an AI-driven environment. They aim for a holistic approach to deploying AI in customer experience. So how should organisations augment their customer experience processes for an AI world? Front runners keep their consumers at the centre of their AI initiatives, as opposed to other organisations more focused on factors such as cost and ROI. They are also more likely to focus on the impact on the customer experience and the applications consumers prefer.
Welcome to the world where messaging apps are slowly becoming new platforms of convenience and customers expect to unlock a universe of information using only their voice. Today 6 out of the top 10 mobile apps are messaging apps. Over a third of customers prefer social media over telephone conversations for customer support. Over1 billion messages are sent between people and businesses every month on Facebook Messenger. The rise of messaging apps, social media, mobility, cloud, the Internet of Things, and landmark breakthroughs in machine learning, natural language processing, and cutting edge technologies like neural networks have revolutionized the way consumers interact with devices.
Artificial Intelligence (AI) has been there for several decades now but has followed hype cycles of renewed'springs' and cold'winters'. For one very simple reason – we, as consumers, want to do more with less. We want our lives to be easier. Omnipresent smart devices coupled with improved technology of AI promises to deliver that panacea. But are enterprises maximizing on this opportunity to deliver a better customer experience?