Remember Facebook's automated personal assistant, M, that was released in a bid to compete with Alexa and Siri? After a series of embarrassing mishaps due to poorly trained algorithms, Facebook abruptly pulled the plug. They weren't alone; chatbots are infamous for putting their metaphorical feet in their mouths. While these debacles are tough to watch, the underlying problem is not artificial intelligence (AI) itself. AI succeeds when underpinned with sound strategy and well-trained models.
Natural Language Processing (NLP) is a branch of Artificial Intelligence (AI) that studies how machines understand human language. Its goal is to build systems that can make sense of text and perform tasks like translation, grammar checking, or topic classification. Companies are increasingly using NLP-equipped tools to gain insights from data and to automate routine tasks. This sentiment analyzer, for instance, can help brands detect emotions in text, such as negative comments on social media. But what exactly is Natural Language Processing?
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.
Customer queries are the bane of most customer support teams, not because they don't like dealing with them, but because they don't have a proper process in place that lets them handle excessive ticket volumes easily and effectively. When a support ticket drops into a queue, or an agent receives an email with a customer issue, the ticket or email might pass through three different agents before finally landing in the correct hands to deal with the issue – leading to bottlenecks and bad customer experiences. Bugs, forgotten passwords, system errors, integration queries… There are so many different issues that agents have to deal with, so that the customer remains happy and the company retains them. And while customer support endeavors to respond to queries as quickly as possible, it's difficult when faced with huge volumes of tickets. On top of that, more and more customers expect immediate responses – 64% of consumers and 80% of business buyers said they expect companies to respond to and interact with them in real time.
Excelling customer service has never been more important for businesses. Today, businesses are adopting AI-powered digital solutions to improve customer support operations and outdo their competition. Let's have a look at how artificial intelligence can help your business ace customer support. With advanced systems powered by automated solutions, customers can now reserve a table at a restaurant, order a pizza, book a movie ticket, hotel room, and even make a clinic appointment. The customer service industry is gaining much momentum especially due to automation powered by artificial intelligence.