Artificial Intelligence (AI) is revolutionizing the way businesses interact with their customers. With the rise of AI, AI-based communication tools are becoming increasingly popular among industries from retail and banking to healthcare and hospitality. They are designed to streamline customer interactions and improve the overall customer experience.
AI communication tools largely consist of chatbots or automated voice services that help companies solve generic queries of their customers in real-time, without the obstruction of call center operation cycles or human errors. Some common queries that AI-based communication tools can solve within minutes include, “When is my last EMI due” “What is my credit card due date?” etc.
These communication tools are essential for businesses to elevate their call center experience by swiftly and accurately handling queries, thereby saving valuable time, costs, and resources. Apart from these, here we discuss the multiple benefits of AI-based communication tools.
Enhanced customer experience and feedback
AI-based communication tools are designed to offer fast, accurate, and 24/7 customer service. For businesses, maintaining customer satisfaction is of utmost importance. Artificial Intelligence plays a critical role in this regard by providing an interactive platform and quick resolutions to customer inquiries.
An AI-powered chatbot, for instance, offers customers the convenience of resolving queries on their preferred medium or channel at their leisure. They no longer have to wait for the weekend or travel to a physical branch to address their concerns. Additionally, AI-based communication tools can adapt to the diverse needs of customers. By analyzing customer behavior and patterns, AI algorithms can deliver personalized solutions that meet the specific requirements of each individual customer.
Cost-efficient for businesses
As per Gartner, the implementation of conversational AI tools will greatly reduce the cost of labor in contact centers by a staggering $80 billion by 2026. Although it is still not possible to completely eliminate the need for human intervention in customer service, partial automation can solve a substantial portion of the workload. This not only leads to significant cost savings for businesses but also allows for scaling of the call center operation.
Let’s consider a scenario of a call center. The cost of one call center agent can be estimated at around Rs. 40,000 per month, including salary and other expenses. If we assume an agent takes approximately 15 minutes to resolve each query and can handle 4 to 5 interactions per hour, they can solve 40-45 queries in a day. An agent-based query solution costs Rs. 33 per query. However, AI can do it at a fraction of the cost. This helps organizations massively save costs and scale CX without human overheads.
Moreover, the deployment of AI and machine learning-based communication tools are cost-effective and also saves time. Unlike human agents, chatbots don’t require an extensive hiring process, including interviews and selection procedures. Hence, companies can deploy chatbots at a much lower cost compared to human agents and save time on the hiring process as well. Chatbots once trained can work efficiently for a long period of time with a small incremental training.
Enhanced productivity and accessibility
AI-based communication tools can help businesses to increase their productivity by handling a large volume of queries and customer complaints in a short period of time. They can also help businesses to prioritize and categorize customer queries, reducing the time spent on resolving each issue. This can free up time for employees to focus on more critical tasks, leading to improved overall productivity.
Additionally, AI-based asynchronous communication channels offer the advantage of anytime accessibility to customers. Rather than real-time interactions with a human representative, these channels utilize AI-powered chatbots trained on frequently asked questions (FAQs) data. AI-powered chatbots are omnichannel and omni-devices which is a boon to boost cx and enhance their overall engagement experience.
For instance, you can start a chat with the chatbot on one device and continue it later on another device without having to repeat the entire conversation. Customers can submit queries at any time of day or night and receive prompt responses without the need to wait on hold or be disrupted in the middle of other tasks by calls from customer service.
In cases where a more complex issue requires human assistance, the chatbot can even connect the customer to a representative from the office. It can also convey the context and details of the query to save time and effort for customers to explain again; customer representatives can also expedite the process of resolving queries, making the entire process smooth and efficient.
Vernacular bots remove language barriers
AI communication tools are designed to provide accurate and relevant answers to customer queries and complaints. They are available in multiple languages. Multilingual AI-based tools use natural language processing (NLP) and machine learning algorithms. They have the ability to break down language barriers and ensure that every customer feels heard and included.
Traditionally, call center agents require extensive training to effectively communicate in various languages, which can be a time-consuming and costly process. However, AI chatbots are capable of responding and understanding multiple languages, abbreviations, and cultural contexts, making them ideal for businesses looking to expand their reach beyond geographical and linguistic limitations.
These vernacular chatbots provide valuable insights into the volume and type of queries coming from different parts of the world, enabling businesses to gather feedback and continuously improve the chatbot’s responses. The chatbots also have the ability to recall previous conversations, going beyond mere keyword recognition to provide contextually accurate answers. By investing in AI-based tools, businesses can achieve greater customer satisfaction and global reach, all while saving time and resources.
Conclusion
As technology continues to evolve, artificial intelligence-powered communication tools are poised to become an essential component of customer support in various industries. With the increasing demand for fast and convenient solutions, there is a shift towards chat-based interactions over voice-based ones.
In conclusion, the implementation of AI-based communication tools offers businesses a plethora of benefits, including cost savings, efficient resolution of queries, and round-the-clock customer service. As technology continues to evolve, businesses should leverage the power of AI to stay ahead in the game and provide their customers with the best possible experience.
Disclaimer
Views expressed above are the author’s own.
END OF ARTICLE
Source link