How can Artificial Intelligence reshape customer experience?

Conventional customer service does assist consumers and offers its own set of benefits; however, it can be enhanced even further by implementing Artificial Intelligence (AI). Along with benefits, challenges such as latency, inefficiency, and clerical error also come, which companies encounter when delivering services. However, companies can overcome these challenges by deploying Artificial Intelligence (AI) to boost customer service and take it to a new level. Hence AI customer experience is the way forward to ensure a sustainable yet innovative future for businesses.

Automation and AI can speed up processes and improve efficiency, while ensuring better accuracy, accountability, and integration with other apps. It can also scale up processes to make them more expansive, with greater handling capacity. This augments the balance between quantity and quality.

What is AI, and why is it important for boosting customer experience?

Artificial Intelligence is essentially where machines or robots can simulate human cognition and intelligence by applying algorithms in logical pathways. This involves using specialized hardware, identifying and recognizing patterns, as well as analyzing data to form (statistical probability-based) predictions – i.e., extrapolation.

With self-learning, corrective and autonomous reasoning capabilities, AI is really a potent tool to supercharge almost any process. The insights it brings, accompanied by reactive outputs, place AI in good stead to manage an ever-evolving digital world. Self-awareness and machine vision captures pertinent information for future analysis.

Whether it is healthcare or retail, every business can benefit from AI in some form or another. The customer journey will be set to pave the way for a brighter future with more intuitive workflows.

For illustration, with the healthcare industry requiring a lot of manual and tedious tasks, the industry has moved towards automation by applying IA to finish these repetitive tasks as quickly and easily as possible. Thus, automating these tasks improves customer satisfaction, particularly if the tasks are customer-facing. The tasks that fall under this process and which can be automated include processing insurance claims, verifying the doctor’s accessibility, arranging appointments, eligibility checks, and data migrations.

Be it streamlining processes, reducing mundane repetitive tasks, or even curbing fraudulent transactions; AI is a redeemer for business processes. A study by Mckinsey says that only 7% of customer concerns are actually shared with the experience team as it is a tedious task. However, the application of AI increases the likelihood of understanding customer concerns and preferences on a live basis and offering a customized plan for every individual. This rewarding experience becomes memorable for everyone, making customers feel valued.

How can AI transform customer experience?

With services becoming customer-centric, most companies are vying for better customer experience (CX), a channel for enhancing customer satisfaction, loyalty, and advocacy. However, a complete understanding of customers is the initial step toward an excellent customer experience.

Artificial Intelligence can transform and elevate the customer by easily automating the repetitive tasks that would conventionally need human intervention. For instance, a customer service agent can implement AI to answer common questions or booking appointments automatically, which would certainly free customer service from tedious tasks to offer more personalized service.

A case study by EdgeVerve suggests that a prominent UK-based telecommunication giant transformed its customer services by implementing AssistEdge Engage, which facilitated exceptional customer service, thus reducing AHT by 30% and saving approximately £25 million.

Most of the larger companies have already begun to integrate AI to augment their customer service. With this AI technology, these companies will surely be able to deliver faster service to their customers and better suggestions.

Benefits of AI in customer experience

Offers instant support and adapts to requirements quickly: The key reason for organizations beginning to apply in their processes is that it enables instant and on-demand support. AI has an innate ability to detect situations and then learn to adapt as per situational demand, which makes it an essential solution for elevating customer experience.

Saves costs and resources: The ability of AI to promptly adjust to different requirements leads to further efficiency and, subsequently, cost and resource savings (including time). Hence, companies can handle larger volumes of data easily, which leads to a significant reduction in customer handling time. As a result, organizations can now identify customer requirements more precisely and accurately.

Predicts latest trends: Implementation of AI can allow companies to predict trends more accurately and proactively as well. AI also enables automating alerts and notifications, which can be the mainstay for keeping everyone updated with the latest trends.

Enhances and endorses customer retention: AI boosts adaptability ability to constantly evolving trends for better flagging of service glitches that is useful in curbing customer diversion and promoting greater loyalty and retention. Such a proactive approach prioritizes customer insights to always ensure that they are put first.

Ensures better quality of products: By using artificial intelligence, companies can now simplify product testing, assure quality and usability. Convenience is another benefit, as the intent of customers can be better projected and acted upon accordingly with accurate data insights. Hence, customer experience can be enhanced significantly.

Also, a targeted and personalized service (as aforementioned) incentivizes psychological control over what customers want. Subsequently, engagement rates are set to rise with better clarity of what exactly customers want, how, from where, when, and why

Thus, with each passing day, AI has been transforming the rapport between businesses and customers, resulting in a growing trend for omnichannel experiences among customers. Thus, considering all the benefits AI can offer to create customer-centric experiences, most companies are shifting their attention toward the implementation of AI.