In a digitally transforming era like 2021, artificial intelligence (AI) has become increasingly capable of driving customer experience across various business functions, making human tasks not only easier but also more efficient and cost-effective. After the rising need for virtual support post-pandemic, AI-driven virtual assistants and chatbots had to become more powerful with advanced NLP engines, automated diagnosis systems, and machine learning algorithms. As a result, AI chatbots nowadays play a significant role in assisting customers virtually across different industries while improving CX for businesses. Not only in developed nations like the US, UK, and Europe, AI Chatbots have become the buzzword in Southeast Asian countries too. Leading brands in Singapore, Malaysia, Indonesia, and the Philippines are also adopting AI chatbots into their business functions, and driving ROI like never before.

In just a few short years, Artificial Intelligence (AI) has drastically changed how we interact with the world around us. AI solutions improve our everyday tasks by using data to understand and deliver better experiences. In the contact center space, where billions of interactions happen daily, AI is increasingly considered necessary to compete by providing faster, more accurate customer service effectively. NICE is thrilled to be recognized for Enlighten AI, the first comprehensive framework for customer experience (CX). Enlighten AI is a purpose-built set of AI technologies that make every CX application and process smarter in real-time.

Today, that are many apps that excel in using AI to enhance the customer experience. Some of the more popular applications from, for example, Apple and Uber, are inspiring in terms of customer experience management. There are learnings to be had here, especially in terms of engaging with customers in the ways they want to engage. This could be across many different channels, including social media apps and mobile apps. Traditional ways of engaging with customers are becoming irrelevant; people don't necessarily want to be on the phone to somebody. To pioneering companies, this is clear, and many of our service provider customers are investing, acquiring and partnering to make sure they capture new opportunities to enhance the customer experience.

In my last blog, I shared some thoughts on how different forms of AI could help transform financial services, along with some challenges that needed to be overcome to ensure successful enterprise wide adoption. As promised, this blog will focus on how AI can help improve the customer experience in banking; both directly, and more so indirectly behind the scenes. When it comes to thinking about how AI can be applied to improve the customer experience in banking, many people will immediately jump to images of using "robots" to serve customers; these could be actual robots (such as HSBC's employment of "Pepper" in downtown Manhattan), or virtual agents (be it chatbots, robo-advisors etc) to service customer requests either on the phone or via chat tools. Whilst HSBC saw some success with "Pepper", it is safe to say that the more wide spread adoption of AI for customer service is focused on virtual agents. Whilst virtual agents aren't new (I remember helping a bank roll them out at least 10 years ago), their functionality has moved on massively from the heavily scripted solutions of a decade ago, to capabilities that utilise "Conversational AI" which help make the virtual agent interact with humans in a more human like way.

Artificial intelligence (AI) is here. The technology is already making an impact across many industries. According to IDC, worldwide spending on AI systems is forecast to reach $35.8 billion in 2019 -- a 44% increase over 2018. For any company that hasn't started its AI journey -- it's time to get started. That's because AI is shaking up the customer experience, bringing users and brands closer together than ever before.

Personalized recommendations like this is one application for AI (and a worthy one at that), but AI can go even further in recommending items to retail shoppers. Walgreens is a great example. The company partnered with Cooler Screens to target shoppers with specific beverage options. Digital screens, cameras and sensors embedded in the doors of refrigerator and freezer cases turn the displays into high-tech in-store billboards, with messages tailored specifically to customers based on their age, gender and the day's weather. The products within the display cases are promoted in the best possible light, and consumers are provided with more detail to inform their purchase decision.

Artificial intelligence (AI) is here. The technology is already making an impact across many industries. According to IDC, worldwide spending on AI systems is forecast to reach $35.8 billion in 2019 -- a 44% increase over 2018. For any company that hasn't started its AI journey -- it's time to get started. That's because AI is shaking up the customer experience, bringing users and brands closer together than ever before.

Artificial intelligence (AI) embedded into commerce and customer relationship management (CRM) platforms creates new possibilities for customer experience and beyond. The business world is now entering a golden age of AI, and both customers and employees can expect to reap the benefits.