The customer service industry is booming at an unprecedented pace. Besides, it is also true that customers’ service expectations are higher than ever before. For any business, big or small, customer service has become the cornerstone of business success. Today, if you let down your customers in terms of experience, you may lose them in no time.
In the world of Internet Customer Service, it’s important to remember your competitor is only one mouse click away.”Doug Warner
The good thing is that in contemporary times, you have a perfect partner in technology to enhance customer experiences. Technological integrations are changing customer service for the better. Among these technologies, artificial intelligence in customer service is the buzz of the corporate world.
Many businesses are already enjoying the benefits of this ultimate combination of AI in the customer service industry. To substantiate, as of 2020, 8 out of 10 businesses have already implemented AI in their customer service solution. This stat is pretty evident that if you are still not thinking about bringing AI into your customer service then you will be missing out on a lot of benefits.
However, now the question arises: how exactly AI is transforming customer service? To answer this question, this blog will effectively highlight the top 5 ways in which AI is transforming the customer service industry. So let us dive right into the blog without further ado.
5 Ways AI is Changing the Customer Service Industry
- Revolution In Extracting Powerful Insights
In this digital era, data has become the epicenter of things. In fact, big data is no less than a superpower in the modern business era. However, having data in itself is no big achievement or a competitive advantage. You need the ability to transform that data into the essential insights that can assist you in gaining a competitive advantage.
Advancements in AI have enabled this technology to become the new data generator of the contemporary world. For instance, machine learning is one of the crucial branches of AI that has the capability to analyze human behavior based on collected data.
In the case of the customer service industry, machine learning collects the data from the customers browsing or search history. Based on the data, the technology generates powerful insights that can help businesses in understanding the needs and preferences of target customers.
Once the needs are identified, it becomes easier for businesses to pitch and hook their target customers to their products and services. This revolutionary assistance in generating powerful insights is assisting in enhancing the overall growth and revenue of the customer service industry.
In fact as per the report, out of every 3 to 4 businesses claim that it is important for them to trust AI data and analytics. Further, 78% of the companies claim that results obtained from AI are reliable, safe, and fair.
Along with this, AI also has the potential to predict future trends based on insights. This predictive analysis assists businesses in getting prepared for future trends in advance and responding to the same more efficiently.
- Upgradations in Tools
Technology was always created to take off the burden from the shoulders of humans and AI played its role significantly contributing to the same. There are many AI-based tools and software that can automate multiple repetitive tasks performed by humans manually.
In customer service, such as scheduling emails, meetings with clients, sending follow-ups, and so on are some of the mundane tasks that can be performed even without human intelligence.
In such scenarios, advancements like CRM tools enter the picture. CRM tools aka customer relation management software can automate repetitive tasks of the sales. As per statistics, 91% of companies use CRM to automate and manage conversations with customers. Automation of these tasks comes with three key benefits.
Primarily, the utilization of AI-based tools will save time and cost for the businesses that go into performing those tasks manually. Secondly, automation will perform the tasks way quicker than humans performing the same tasks manually.
This will enhance the overall efficiency of customer service operations. Last but not least the saved time when used efficiently will make your team more productive and efficient.
Hence, the invention and upgrades of multiple AI-based tools are making customer service more efficient and productive than ever before. This will contribute to the overall enhanced profitability of the company. Along with this, taking off the burden from your sales team will also assist in keeping your employees engaged.
- Popularization of Virtual Assistance
We all are very well aware of the fact that Alexa and Siri have been our favorites for a long time now. People are not only accepting this virtual assistance with an open hand but now also look forward to businesses assisting them in their purchasing journey through virtual assistance.
Virtual assistance in the form of AI chatbots has enhanced the efficiency of customer service by being available for its target customers 24*7. Moreover, as per statistics, AI chatbots can handle 85% of the queries of humans on their own.
Additionally, the Natural Learning Process which is another branch of AI has assisted chatbots in understanding and responding to human queries similar to human slang. This has assisted in enhancing customer support and satisfaction in the most efficient way possible.
Alongside, many businesses have also introduced AI-based virtual assistants in the form of personas or avatars that can assist customers by advising them what to purchase and what not to. This virtual assistant added value to the customer service brand and also engaged the customers efficiently. Hence, it is pretty much evident that the future of AI is bright in the customer service industry. So what are you waiting for?
- Facilitation of greater personalization
Personalization is becoming one of the must-have trends for every business nowadays. This expansion of the personalization trend was only possible because of artificial intelligence.
As discussed in the very first point, AI can collect data. Based on these collected data, AI can personalize the data and recommendations for the customer to offer them a better experience. Moreover, customers are now also expecting businesses to present a personalized experience otherwise they will back out from their purchasing journey.
To substantiate, 80% of customers claim that they have more possibilities of purchasing a product or availing services from a brand that offers them personalized experiences. Offering personalized recommendations will only contribute to enhancing customer experience through AI.
Besides, it is very essential in customer service to listen to them which brings us to our last but not the least point.
- Easy collection of feedback
Collecting and acting on customer feedback has always been one of the most crucial factors in determining the growth of the company. It is easy to collect feedback when you are at the starting stages of business however the case is not the same when we talk about large enterprises with massive audience bases.
However, AI has become a savior in this case as well. AI can create engaging feedback forms and reach out to millions of customers of businesses at once. This has led to the easy collection of feedback. AI can scan the special keywords from the quantitative feedback and can assist in analyzing the customer experience in the shortest possible time.
Moreover, when businesses collect feedback from customers, it will assist them in identifying their key strengths and weaknesses. Further, boosting the strengths and eliminating the weaknesses can enhance the overall performance, and based on this, you can further set SMART goals of enhancing customer experience. To conclude, whether we accept it or not, AI is the future of the contemporary business world. Hence, the need is to effectively understand how AI is transforming various industries and how your business can avail the advantages of the same. Moreover, the above given 5 ways clearly explain that AI is the new revolution in the customer service industry.