If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Present customer experience is "all over the place, with wildly varying results. Two customers using the same service can have completely different impressions of their experience, and in many cases the service is clunky and poorly structured" says Anthony Tockar, Data Scientist and Co-founder of The Minerva Collective. The unfortunate reality is that 78% of consumers have bailed on a transaction or not made an intended purchase because of poor service experience. In fact, companies only hear from 4% of its dissatisfied customers. With so much choice available to consumers, it's much easier to find another company with similar offerings than spending time complaining or calling about a problem.
Abhi is the Co-founder & Chief of Product, Tech @ Zylotech with rich experience across AI and customer data management led revenue-ops. Consumers have high expectations when engaging with brands, whether those brands are B2C or B2B. They expect companies they engage with to be omnichannel, engaging with them on multiple devices and all channels, with quality and consistent experiences across all channels. They expect immediacy for nearly everything from answers to questions with relevant content to personalized recommendations and contextualized offers. And they expect interactions with brands to be personalized based on their needs at the moment, not just on their broader needs.
In the wake of the pandemic, people have dramatically changed how they live, communicate, work and shop. COVID has also changed how they interact with critical services such as healthcare and insurance. In a time of change and uncertainty, customers are seeking reassurance and easy transitions to the "new normal." Insurers that take advantage of the new data and customer insights this global digital shift has provided can better assess customer claims and applications, and deliver a better experience. Telehealth and telemedicine are booming as medical professionals take their services online.
Amar Naagram, CEO, MyntraThe Covid-19 impact has forced companies across industries to adapt things which were previously considered impossible. Like almost every business, Myntra also had to move all their employees to work from home overnight just days before one of their biggest annual sale events. "From a vibrant office to working from home, I was pleasantly surprised how quickly we adapted to working from home. With the deployment of Azure, we were able to deliver one of our most successful End of Reason Sale remotely," Amar Nagaram, CEO, Myntra said. With their strategy to invest in technologies and digital capabilities, Myntra is today focused on innovation, speed and agility to strengthen its leadership position even further.
While an omnichannel approach has become the norm across most industries, forward-looking businesses are considering the next level to gain competitive advantage. According to Andrea Tucker, Research and Development Head at e4, to disrupt a market using omnichannel strategy businesses will need to turn to Artificial Intelligence (AI). "AI has become a tool that is being utilised to improve customer service, but what has been achieved is really just the tip of the iceberg. There is so much more that can be done to improve and evolve customer service to meet the needs of a much-changed and mobile customer," says Tucker. Given the nature and pace of business today, coupled with the blurred lines between a consumer and a client, Tucker says that self-service is set to boom as one of the key take-outs from AI.
Customer experience ranking for Kryon's robotic process automation (RPA) products and services increased by seven points compared to previous score Kryon, the leading full-cycle automation solution provider known for its customer-centric approach to robotic process automation (RPA) and process discovery, revealed its latest Net Promoter Score (NPS) of 68. The NPS score, a key indicator of overall customer satisfaction, is based on the results of an opt-in survey of Kryon's existing enterprise RPA customers. The June NPS score exceeds Kryon's prior score, which was already above average at 61. The jump in satisfaction is largely due to Kryon's commitment to customer support and constant dialogue with customers on how to make their experiences better. "RPA is all about relentless improvement, and Kryon not only builds that into our products but we make it a core value of our company. The seven-point boost in customer satisfaction is a testament to the hard work and commitment of our customer success and professional services teams. They never stop finding new ways to improve the customer experience of Kryon's Full-Cycle Automation Suite," said Ohad Barnoy, Chief Customer Success Officer for Kryon.
AI-driven chatbots are changing the way we interact with applications allowing businesses to render an improved customer experience. But attached to these benefits are some misconceptions too. Here are 5 common myths about AI-based Chatbots. "Some people call this Artificial Intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we'll augment our intelligence."
Editor's note: Anastasiya explores the benefits of using artificial intelligence in customer service and proves them with relevant use cases. And if you are interested in powering your customer service with artificial intelligence, check ScienceSoft's customer service consulting offer. There are many visible benefits of using artificial intelligence in companies that care about excellent customer experience. Reduced customer service costs, increased loyalty among staff, and higher customer satisfaction are just some of those. That is the reason why 91% of companies with world-leading brand recognition are using AI.
Leveraging incredible advantages of Artificial intelligence is now a trend. Marketing Strategists and trendsetters are looking up to this advanced technology to their top-line revenues. The technology has is stunning the world with its latest innovations. The global Artificial Intelligence market size was valued at USD 24.9 billion in 2018 and is anticipated to expand at a CAGR of 46.2% from 2019 to 2025. Businesses worldwide are leveraging AI benefits to render improved customer experience and enhanced personalization to users.
In today's digital era, digital transformation is atop, gone are the days of offering courteous and superficial customer interaction. To satisfy the customer using the right tone of voice has no more space in this digital era. Earlier, businesses were required to ensure how their agents were hitting the target KPIs such as average wait time, average handle time, talk time, follow-ups – all of these metrics are still significant, but customer service industry has realized that CX – customer experience is king. To enhance the customer experience one of the best ways is to set your business apart from the herd and leverage the benefits of higher ROI. As of 2018, 84% of organizations have surveyed in the Global Customer Experience Benchmarking Report and acknowledged that CX is indeed key differentiator and 81% of them have identified customer experience as a cost-saving effect.