Revolutionizing Customer Service: The Rise of AI Chatbots
What’s Changed?
Chatbots, once considered a dirty word, have undergone a significant transformation. Gone are the days of struggling to understand queries and deliver the right information. Newer AI programs are better equipped to understand what customers need, search for the right information, and display it in a legible way.
Consumer Confidence
A recent YouGov survey found that 60% of consumers feel at least fairly confident in their ability to distinguish between human customer service agents and robots. Moreover, over 80% of customers are willing to wait for some period of time, even up to 11 minutes, to talk to a real person, even if an AI chatbot is available immediately.
Generative AI: The Game-Changer
Generative AI programs can deliver better answers than official customer service chatbots. For instance, Google’s Gemini AI program helped a senior managing director at Accenture figure out how to navigate a bank’s system to link one account to another, a task that the bank’s chatbot failed to understand.
Moving Away from Search Models
Joon-Seong Lee, senior managing director at Accenture’s Center for Advanced AI, emphasized the need for websites to move away from search models, where users have to dig for answers themselves. "You’re not searching for answers. You want the answer," he said.
Real-Life Examples
Sami Mahmal, data lead for Zurich Insurance, shared an instance where the company used AI to save time for customers in Indonesia. The firm replaced in-person car inspections with an automated process that assesses damage and either approves a policy or refers it to an assessor for further assessment. This change reduced the wait time from days to minutes.
Will Companies Get a Return on Investment?
Attendees at Fortune Brainstorm AI Singapore were eager to know what kind of return they could expect from investing in expensive generative AI programs. Sinisa Nikolic, director of high-performance computing and AI at Lenovo Asia Pacific, noted that over 90% of chief information officers knew they had to make a decision on whether to use AI, but more than half had no idea what that decision should be.
Return on Investment
Nikolic shared Lenovo’s experience, noting that AI had increased efficiency in its supply chain by over 80%. Mahmal suggested that using proactive chatbots could reduce operational costs by between 30%-50% and reduce call times from 15 to ten minutes. Lee offered a different approach, noting that generative AI could improve a company’s ability to reach out to customers, enabling thousands of campaigns instead of just a few hundred.
Conclusion
The rise of AI chatbots has revolutionized the world of customer service. With better understanding, searching, and displaying capabilities, these programs are transforming the way companies interact with their customers. While there are still questions about the return on investment, the benefits are undeniable. As companies continue to invest in AI, we can expect to see even more innovative solutions that improve customer satisfaction and reduce operational costs.
FAQs
Q: What is generative AI?
A: Generative AI is a type of artificial intelligence that can create new, original content, such as text, images, or music.
Q: How does generative AI improve customer service?
A: Generative AI can deliver better answers than official customer service chatbots, understand what customers need, and search for the right information to provide accurate solutions.
Q: What are the benefits of using AI chatbots?
A: AI chatbots can reduce operational costs, improve customer satisfaction, and increase efficiency in supply chains.
Q: Are AI chatbots replacing human customer service agents?
A: No, AI chatbots are designed to augment human customer service agents, providing them with the necessary information and tools to resolve customer queries more efficiently.
Q: How do I know if my company should invest in AI chatbots?
A: Companies should consider their specific needs and goals before investing in AI chatbots. It’s essential to define what you want to achieve, whether it’s efficiency, reduced downtime, or increased customer satisfaction.
Author: fortune.com
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