How AI, Automation and Bots create impact for businesses
The convergence of AI, automation and bots could not have come at a better time to positively impact the touchpoints, to arrest the slide in Customer Experience. Robotic Process Automation has given way to its evolved successor – Cognitive RPA – thus effectively freeing up bandwidth for agents to discharge tasks that demand greater interactive skills and judgment. Predictive Customer Service has significantly impacted customer support by helping resolve customer service issues before they arise, hence significantly lowering customer abandonment rates. Over the past few years, chatbots have been augmented with artificial intelligence (AI) and machine learning capabilities to simulate a real interaction with users. It is estimated that by 2020, 85% of all customer interactions will be handled without a human agent.
Automation, AI and bots simplify the overall experience a customer has with the business’s support function. They help by automatically validating (and therefore remembering) the customer, dispensing with the need for repetition and presenting consistency across channels. Powerful computing prowess of AI, triggered through automation and funneled through bots, helps in better micro segmentation of customers for greater personalization. Customers who recognize that their special needs or preferences are understood and met by organizations offering services or products will exhibit greater loyalty. Organizations can spot customer preferences through automated analysis and this will help agents to handle queries, and address concerns in a manner that is most appropriate for customers.Achieve greater personalization in support with the AI, automation and bot-enabled communication. Click To Tweet
Adopting and adapting to these digital innovations
A survey by Altimeter Group showed that 42% of businesses invest in these new digital channels to serve clients more effectively. Organizations need to focus on a digital overhaul to achieve the transformation towards these future proof customer experience paradigms. The varied benefits of AI, Automation and Bots make for a compelling business case, in not just improvements in customer facing operations, but improving workforce productivity, acquiring new customers at reduced costs and retaining customers thereby improving customer lifetime value and ROI. After all, the prime driver of digital transformation is Customer Experience, which makes it all the more important for CIOs to focus on bringing in automation, bots and AI into operations.
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