Customer support is the most crucial aspect of customer experience. No matter the industry your business belongs to, you need an efficient customer support system to ensure customer satisfaction. Customer support also allows a business to gather in-depth insights into customer requirements and concerns. This information allows you to strategize your future activities and provide a better customer experience with your services overall.
For improved efficiency, a lot of businesses are integrating their systems with modern digital solutions. The idea is simple: Reduce the workload on employees and empower them with cutting-edge digital tools. Artificial Intelligence in customer support is making ground-breaking contributions as well. Due to its self-improving nature and transformative features, AI automation for customer support is rapidly being incorporated into the business scenario.
How AI is impacting different businesses worldwide?
As mentioned earlier, AI is making a huge impact in the modern business scenario. In almost every sector it is helping businesses create a highly engaging and personalized experience for customers. Here are some of the top industries where AI for customer support has become an integral part of the operations structure.
Banking: Artificial intelligence for customer support is a key component in the banking sector. Right from the initial sales stages to post-sales customer service, AI is being used to simplify customer support. AI helps banks to pitch personalized packages based on customer preferences, improving the conversion rates. Similarly, the websites and mobile applications are also equipped with chatbots and other customer support tools to boost the overall CX. According to an OpenText survey, 80% of all banks are aware of the potential benefits of AI, and 75% of banks with assets of $100 billion are already implementing AI solutions. So, if you’re still thinking about AI implementation, you better hurry.
Insurance: From policy purchase to claims, CX Automation helps Insurance companies by streamlining and simplifying cost and resource intensive processes. With AI automation for customer support, the insurance processes have become highly efficient and streamlined. Businesses are now offering AI-based interfaces where the customer can simply self-service through the various stages of cycle. With various tools like machine learning and robotic process automation, the customers are getting faster support, while the companies are getting access to valuable and accurate insight data through connected devices. That’s the reason why almost 40% of CIOs plan to increase their investments in AI projects in the insurance sector.
Healthcare: When it comes to the healthcare sector, AI is certainly a lifesaver. GrandViewResearch says that the use of AI in healthcare has increased by 167.1% by 2021, in a span of just 2 years. With artificial intelligence in customer support, hospitals have successfully accelerated patient diagnosis by integrating AI-based pre-screening. AI is also improving the intake stage by digitalizing patient data and providing personalized services through precision insights about customers’ records. Other major fields of AI for customer support in healthcare include medical diagnosis, drug discovery, preventative healthcare, patient record management, and more.
EdTech: In the education sector, AI has several crucial use cases. From examination assessment and digital examinations to virtual student assistance and e-learning, AI is simply everywhere. As you can see, the use cases focus mainly on simplifying the complexities for the institutions, students, and Ed tech professionals at the same time. While students receive a higher quality of education through personalized e-learning programs, on-demand assistance, and virtual exams, the institutions get a highly fool-proof error-free structure without increasing the workload.
Logistics: Traditional logistics operations was highly reliant on paperwork, in-person communication, and staff-based planning and resource management. Basically, the system had many weak points and error-prone zones that could lead to massive losses. With CX automation, the scenario has completely changed now. According to a Statista survey 40% of respondents believe that AI can be greatly helpful in inventory management. Companies are now automating and optimizing the supply chain, resource management, and route optimization, ensuring a seamless flow of vehicles and packages. With advanced machine learning and data insights, AI’s accurate demand prediction is also helping businesses to stay prepared in advance for high-demand seasons.
Travel & Hospitality: The tourism industry experienced a major setback with the recent pandemic-related travel restrictions. With complex travelling guidelines and travel restrictions in place, AI for customer support has played a key role in simplifying the travel process for customers. With Ai-based chatbots and other CX automation tools, businesses are able to provide accurate fare predictions, travel guidelines, recommendations, and personalized offers to improve the overall customer experience. In short, travellers don’t have to visit agencies anymore. They can simply log in to your online portal and book their travel easily with AI chatbots and other CX automation tools.
E-Commerce: Artificial Intelligence in customer support is currently allowing e-commerce businesses to provide exceptional customer experience, which is in turn, boosting sales and profits. E-commerce portals usually have thousands of products and loads of data. So much information is difficult to view and assess for the customer. On the other hand, AI is allowing e-commerce platforms to provide personalized recommendations, better search results, optimized pricing, shipping, and plenty of other features that help customers. With deep-learning techniques, AI self-improves and delivers more customer-friendly service over time. In short, AI greatly and positively impacts customer experience and boosts profits for e-commerce businesses.
AI is the future
When it comes to CX automation, AI is undoubtedly the future. Compared to its initial stages, where chatbots were much more robotic and pre-programmed, the modern AI chatbots are highly interactive and intuitive. With sophisticated techniques like deep learning, decision tree, self-organizing, and more, the AI automation solution empowers human agents by eliminating manual, time consuming processes and letting them focus on strategic tasks. Which eventually increases productivity and leads to business growth.
And on the customer’s side, it delivers a highly personalized, user-friendly, and error-free service, boosting your customer relations like never before.
Clearly, Artificial Intelligence in Customer Support has reached an all-new level today. From banking and insurance to healthcare and hospitality, AI is everywhere, enhancing business operations, improving productivity, and accelerating the ROI without adding to the workload and cost.
Therefore, if you think your business needs customer experience optimizations, invest in Engagely’s cutting-edge AI Chatbot and other CX automation tools. They are the tools that’ll help your business establish exceptional and long-lasting customer relations.
Megh Bhavsar is a Technical Writer at Engagely.ai. He writes largely about leading AI based customer solutions, CX Automation and all things related to new-age customer experience.