Does AI-Powered Customer Service Have a Bright Future?

Jun 07,2019 by Rahul Garg
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In the 21st century, technology is playing a vital role in our personal and professional lives. Nobody wants to get over with the addiction of technology as it is making our lives easy and amazing. Smartphones are a vivid example of technology.

By virtue of technology-driven cell phones, we can do all those things which were not in our hands a decade ago. For instance, we can listen to our favorite music while jogging, we can play high-end games with global players without going anywhere, etc.

“Predicting the future isn’t magic, it’s artificial intelligence.”

— Dave waters

Since the arrival of artificial intelligence, new possibilities have opened up. In the business world, applications of artificial intelligence have revolutionized the way of providing customer service. With the help of AI-powered customer service, corporations not only can enhance customer experience but also stand out from the competition.

Interesting blog: Is Artificial Intelligence Really a Helping Hand for the Healthcare Industry?

In this context, how can we forget chatbots? They have set new benchmarks in terms of customer service quality. According to Gartner, 50% of enterprises by 2020, will invest more in chatbots to enjoy the benefits that AI-powered customer service offers to business.     

We’ve got some stats that will certainly amaze you and tell you why the demand for chatbots is on the rise:

  • 57% of customers prefer to be assisted by a chatbot in order to get prompt resolutions.
  • 55% of customers hail those brands that have chatbots to provide assistance.
  • 27% of customers believe chatbots offer great help in making a quick buying decision.
  • 95% of customers said chatbots give better service experience during support interactions.
  • By 2020, 85% of customer service interactions will be carried out by chatbots.

Inquisitive about the future of AI-powered customer service? Well, it is as bright as sunshine. Here are some pointers which will explain why businesses want to incorporate applications of artificial intelligence in their customer service departments.

1. Always-on customer support

At the present time, customers want, from brands, a dedicated communication line so that satisfactory resolutions can be availed with the utmost aplomb. However, companies, especially small ones, hesitate when it comes to running customer service operations 24/7 as they are concerned about their business’s bottom line. This is when the significance of AI-powered customer service skyrockets.

By means of AI-driven chatbots, customer needs can be catered all day and night seamlessly. This also points to no need of a large workforce, which means great cost savings. As revealed by Chatbots Magazine, businesses using chatbots to handle customer service operations save up to 30% as compared to ones coping with incoming support requests via an orthodox approach.

Besides saving a significant amount of money, AI-powered support service also results in high customer satisfaction, which leads to a buttressed brand image.

2. One-off investment and long-term benefits

To deliver phenomenal customer service experience, it is paramount to have a throng of dexterous support agents at your disposal. It is instrumental because competent support agents always ensure skeptical customers leave with splendid service experience.

But the problem is that you have to invest a big chunk of money to bring a myriad of agents into customer service operations. In addition, you have to invest almost the same amount of money in training programs. This directly affects the business’s bottom line. And all these investments go to waste when the employee turnover rate is at a peak.

However, this isn’t the case with AI-driven chatbots as you have to invest only for one time. In exchange, AI-powered customer service promises long-term benefits such as negligible negative reviews, high CX levels, better management of queries, and so on.   

Before you get us wrong, we would like to say that chatbots don’t kill the necessity of human support agents. AI-based bots only free up employees from handling tier-1 support requests, which don’t require an expert to get resolved.

3. Resolutions with a personal touch       

As we stated, most of the companies are showing a great interest in applications of artificial intelligence for the sake of running the customer service department with flying colors. But there are some organizations which are in a dilemma regarding whether they should opt for AI-powered customer service or not. The most cited reason behind this is they think rendering resolutions without the ‘human factor’ could ruin customers’ service experience and cause bad brand recognition.

Well, the good thing about artificial intelligence is it improves over time by rectifying hidden errors. This means applications of artificial intelligence like chatbots can deliver solutions with a personal touch.

“How do chatbots ensure personalized resolutions for customers during support interactions?”

The secret factor that guarantees delivery of individualized customer service is an amalgamation of big data and machine learning. If emerging industry reports are to be trusted, 40% of customers don’t get offended if they are asked to be assisted by chatbots. 

Read Also: Machine Learning – A New Wave of Intelligent Automation

It goes without saying, when you serve customized support service to customers at the time of need, your brand image is likely to improve. In the best scenarios, there is a high possibility that your gratified customers turn into brand advocates, which, in turn, leads to exponential growth.   

Wrapping up:

Let’s come back to the question we had asked: “Does AI-powered Customer Service really have a Bright Future?” Well, pal, artificial intelligence has the potential to take customer service quality to new heights. So, yes, it has a dazzling future ahead.

As we know, gaining customer loyalty is hard, and keeping it for a long time span is even harder. By virtue of AI-powered support service, businesses can easily retain the number of loyal customers they would love to.        

We have already made ourselves pretty clear that artificial intelligence hasn’t come to replace human customer service representatives. It is here to only amplify the efficiency of customer support operations. We have proved this by writing down the aforementioned pointers.

So, if you want to bring applications of artificial intelligence into use for the sake of better business growth, you can team up with Cyfuture.

Thanks!!

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