Generative AI has revolutionized the whole of customer operations, improving the customer experience and productivity of human agents. The transformation of digital self-service helps human agents enhance and augment their skills. The AI solution technology has already gained propulsion in customer service with personalized experience because of its ability to automate customer interaction with natural language processing (NLP).
Research proves that a company of 5,000 customer service agents deployed generative AI increased issue resolution by 14% an hour and lessened time spent handling an issue by 9 percent. Also, it reduced requests to talk to a manager and the agent attrition by 25 percent. Importantly, the quality and productivity of service improved among less-experienced agents. However, the AI assistant did not increase or decrease the quality or productivity of more highly skilled customer agents. Thus, AI assistance guides less-experienced agents to communicate or handle queries using techniques used by highly skilled counterparts.
Here are some instances of the operational enhancements that Gen-AI can provide for particular use cases:
Customer Self-Service - Generative AI-empowered chatbots can provide instant and personalized responses to customer queries regardless of the location or language of a customer. By enhancing the quality and effectiveness of interactions with automated channels, Gen-AI can automate the response to customer inquiries, enabling the customer support team to take on inquiries easy to resolve by human agents. The research found that banking, telecommunications, and utility companies in North America are already handling customer contacts with machines, including but not exclusively AI. An estimate suggests that generative AI could reduce the number of human-serviced contacts by 50 percent, depending on the company's existing automation level.
Resolution during initial connection - Generative AI can immediately recover data a company has of a specific customer, helping customer service agents successfully answer questions and solve issues during initial connection.
Reduce response time - Chatbot and virtual assistance can cut a human sales rep's time spent responding to customers by providing assistance and recommending further steps in real time.
Increased Sales - Ability to process customer's browsing history data, Gen-AI can identify product suggestions and deals customized to customer preferences. Additionally, it improves quality assurance by collecting insights from customer conversations. Identifying what could be improved better, and training agents.
Our estimation suggests deploying generative AI to customer servicing could increase productivity to 30 to 45 percent of existing servicing costs.
Our analysis figures out generative AI only impacts the productivity of customer operations. It does not account for the knock-on how technology affects customer satisfaction and retention rising from an improved customer experience. Including a better understanding of the customer's concerns that help human agents provide personalized support and recommendations.
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