How AI is defining customer experience.
Artificial Intelligence has been pivotal in virtually every sector and industry. I recently posted a video on my Instagram of a robot cleaning the toilet. From performing repetitive tasks to redefining customer experience, the potential of this technology cannot be over-emphasized. In this article, I will share how AI can redefine how you improve customer experience within your organization.
According to a report by Forbes, the global artificial intelligence market is anticipated to experience significant growth, with a projected annual growth rate of 37.3% between 2023 and 2030. By 2030, it is expected to reach a substantial market size of $1,811.8 billion. AI holds immense potential to make a substantial contribution to the global economy. It is predicted that by 2030, AI’s contribution to the world economy will surpass the combined economic output of both India and China.
China is expected to experience the most substantial economic benefits from AI, with a projected 26% increase in its GDP by 2030. Following closely behind is North America, expected to see a 14.5% boost, resulting in a total economic impact of $10.7 trillion. These two regions are projected to account for nearly 70% of the global economic impact of AI.
AI disrupts our business in different fields, and the customer service sector has not been left behind.
5 ways AI is revolutionizing customer experience
Here are some aspects of customer service that Artificial Intelligence can deliver disruptive and top-notch services.
Data Mining
AI can efficiently sift through vast datasets to generate valuable patterns and insights that might otherwise remain masked. The machine learning algorithms can analyze historical customer data and then predict future trends, behaviors, and preferences. This can help your business make data-driven decisions and improve your understanding of customer requirements.
Customer shopping
AI utilizes personal information and past shopping behaviors in customizing shopping experiences. AI algorithms, having analyzed the customer data, can help them recommend products, offer personalized discounts, and even customize their shopping journeys. Recently, I added some items to my cart on Heyfood but later changed my mind and decided to check in at the supermarket. When I got back, I got a notification from the app to clear my cart. That’s the power of AI. If I have not ordered food items within a couple of hours, Heyfood will send me a scintillating and funny alert to do so. AI is no doubt helping a lot of businesses to drive sales in the retail sector.
Operational Automation
AI is capable of collecting and processing vital data to enhance business processes. It can spot discrepancies, recommend improvements, and automate repetitive tasks. This enables your organization to make informed decisions and optimizes its operations for better efficiency and cost-effectiveness.
Automated customer support
AI-powered support solutions, such as virtual assistants and chatbots, provide round-the-clock aids to customers. These AI systems are responsive and supply accurate responses to general queries, resolve issues, and redirect more complex problems to human agents when required. This enhances the cost-effectiveness and efficiency of your customer service. Starbucks is a notable example here. In 2017, the company integrated a chatbot into its app. This allows their customers to order, pay, and earn rewards, thus enhancing convenience.
Real-time support
AI enables your business to respond to customer queries in real time through social media, email, or other communication channels. AI-enabled tools can track incoming notifications, identify urgent inquiries, offer immediate responses, or route the issues to human agents.
Your business has much to benefit from investing in Artificial Intelligence, not just in the production processes but how you support your customers.
How AI Enhances Customer Experience
Uniform Strategy and Personalization: AI promptly addresses customer queries, making them feel valued. It offers real-time support and anticipates customer needs, resulting in engaging experiences.
Empowering Customers: AI enables customers to complete tasks independently, from booking appointments to making reservations. This empowerment converts leads generated during sales and marketing campaigns into favorable business outcomes.
Improving Customer Experience with AI
Understand Your Customers: Utilize AI to create customer personas and analyze their attitudes and expectations. Customize messages based on data such as purchases and demographics for targeted marketing efforts.
Optimize Data with AI: AI collects and analyzes data efficiently from various customer interactions, saving time and resources. Spotify, for example, uses AI to personalize music recommendations for its users.
Consistency Across Platforms: Ensure a consistent customer experience across multiple platforms through AI synchronization. Updates made on one platform reflect automatically on others, enhancing customer convenience.
Leverage Chatbots and Real-time Communications: Employ chatbots and real-time communication to respond to customer inquiries swiftly. Make it clear to customers when interacting with AI, ensuring efficient issue resolution and a seamless transition to human agents when needed.
Conclusion
Adopting AI is essential for businesses aiming to stay competitive and relevant in the modern era. Companies can optimize customer experiences and drive success by understanding and implementing AI strategies. You can check my book, The Future of Intelligent Automation, on Amazon, where I wrote on what we should expect as businesses implement AI across board.