Artificial Intelligence: Building Bridges between Customer and Business

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Artificial Intelligence: Building Bridges between Customer and Business
Source: https://www.pexels.com/photo/action-android-device-electronics-595804/

We know that enhancing better customer experience is key to a successful business. Customer satisfaction is linked with the overall customer experience a company provides no matter how innovative products or services a business offers. Businesses need effective technologies to enhance the customer experience. AI-powered solutions can build bridges between customers and businesses. With technologies empowering the business especially AI-powered solutions are providing useful transitions to build bridges between customers and business.

AI is playing a meaningful role in how a business operates. AI along with machine learning is used to build models which are helping in every sector of customer services from data collection in the marketing department to onboard customers. AI and automation hold great value in terms of cost and time saving, it promises even bigger in customer experience. The root of digital transformation is enhancing the customer experience. Every innovative strategy we make should revolve around enhanced customer experience in order to do a successful business. With a large amount of data available, machine learning and AI can improve customer experience.

AI Transforming everyday experiences for customers

These days more and more businesses are relying on AI-based customer services systems to generate greater revenue and enhanced customer relationships. Here is how AI is transforming the customer experience and helping businesses in building better customer experience:

1. Personalization

The most adorable feature of AI is personalization and it is widely adopted. We rarely need to search for the things we like on the internet as AI has made it so easy for finding the recommendation based on our browsing history.

From recommended movies and videos on Netflix and Youtube; recommended music on Spotify; recommended events in the town and friends suggestions on Facebook; and product recommendations on eCommerce platforms, AI is putting the ‘all-knowing guy’ out of business. In this age, everything is available to everyone at the forefront based on their needs and wants.

AI is not just personalizing the recommendations for better customer experience, it is finding its ways in the clouds, where companies are storing their data for faster access and insights. Microsoft Azure and Amazon AWS, for instance, are offering insights and expertise for building AI-based applications. This enables companies to scale their AI capabilities leveraging experienced leaders in the cloud. Companies are turning to AI for developing personalized content to add to the personalized recommendations. A happy customer is much more likely to buy from the company that has invested time and money to get to know his choices.

2. Customer Support Response

We all can imagine how frustrating it is to stay on hold for hours in wait for a customer representative. But AI has transformed the customer experience by removing on-hold factors due to the nonavailability of customer support representatives. Now by chatbots and virtual assistant simple customer queries can be answered swiftly.

In 2011, Gartner made a prediction that by 2020, 85% of customer relationships will be managed without human interaction. This prediction is not only proving to be true but it seems that we might hit 90% by the mid of 2020. However, chatbots are not smart enough to fully handle the customer support but as long as they are solving small problems for customers, they are a good asset for a business.

While customer service agents put a lot of effort into making customers’ experience delicate, but we have to face the reality that it’s impossible for customer service people to be “ON” all the time. Many customers have bad experiences with customer support once in a while. The perk of AI-based agents is that it doesn’t get upset. Whatever your query is, these systems will always be in “ON” mood to answer it unless their power is cut-off. This gives companies peace of mind that customers are not getting a bad response from agents.

3. For Cybersecurity

Although fraud prevention is not a forefront customer service it is vital for building customer trust and protecting their personal data. With the digitizing of the world, the number of cybercriminal activities is increasing. So business needs to take steps to provide cybersecurity that customers can rely on. AI-based identity verification helps businesses to securely onboard customers. If trained with relevant data AI models could help predict fraudsters and tackle them on time. Fraudulent activities can be handled beforehand by this technology. Surely frauds are increasing to an alarming level and become a concern for customers and businesses.

Wrapping it up, in this quickly evolving digital era, the customer expects the best that too in the shortest time possible. By integrating AI-based customer service systems, businesses can make customers feel known and valued. This will also build brand loyalty. That’s why to cap this off, it’s important for businesses to grab technologies and integrate into the system before running the risk of being left out.

Sarah Amundsson
As an expert in digital identity verification, Sarah helps businesses deploy solutions globally to solve their problems for Know Your Customer(KYC), Know Your Business (KYB), Anti-Money Laundering(AML) both for Individuals & Businesses, and fraud detection.

1 COMMENT

  1. Well, to be fair and honest, the success of AI systems establishing a CRM bridge highly depends on the acceptance of the customers. But I guess the more personalized and interactive (for example) Chatbots become in the future, the wide they will be accepted.

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