Have you ever wondered what makes a business reach the height of success? Does this ever bother you to think about what makes companies like Amazon, Netflix, Tesla, Apple, and so on succeed, and what is that very pro strategy? (Artificial intelligence facts execute that Netflix’s recommendation engine is worth $1 billion a year)
Well, this article is surely not about finding that game plan they follow, but to understand the motive behind this whole process. And, that is nothing but to offer their customers a better experience.
The term artificial intelligence has become synonymous with better customer experience. Global spending on cognitive and AI systems will reach $57.6 billion in 2021. Why is AI embedded in the frame of prominence? Well, there are multiple reasons to justify the question, but when it comes to AI services being helpful in a better customer experience. Here’s what we are going to address today. Let’s bring AI’s being competent in the top 3 ways in providing a better customer experience
1. AI Services’ Prodigious Role In Customer Service Makeover
Offering a personalized experience to your audience can be amplified just by bringing in automation in your business thereby availing artificial intelligence.
72% of companies using AI believe it will help to make their jobs easier
Artificial intelligence’s impact in transforming businesses is something that has proven out to be favorable to everyone out there.
Companies using AI for sales were able to augment their leads by more than 50%, reduce call time by 60-70%, and realize cost reductions of 40-60%.
Understanding customer’s inquiry and their take on any particular product are not possible every time with a human effort. Intelligent automation is what can be helpful to agile customer’s needs.
Here’s how AI applications are giving customer service a makeover:
Chatbots on improving customer experienceChatbots are AI-oriented conversation agents that are helpful in multiple customer engagement processes. They are designed for simulated human interactions to help them with immediate response 24*7.
According to Forbes, business leaders say chatbots have increased sales by 67% on average.
Chatbots bring in the sense of personalization by preventing delayed replies on customer inquiries and other errors in customer engagement.
Virtual assistants on improving customer experience
Before we dig into the responsibilities of virtual assistance when it comes to improving customer experience. Many people get confused between the roles of a chatbot and virtual assistant.
Chatbots are smart enough to sense the context of the conversation and execute the right bot flow. However, chatbots are not able to find answers or perform a set of activities themselves. On the contrary, a virtual assistant can crawl through existing resources and offer assistance for a wide range of requests.
The success rate of bot interactions in the healthcare sector will move to over 75% in 2022
For 55% of virtual assistant users, being able to control their device hands-free is the core reason why they use speech recognition apps.
A virtual agent on the other hand is an extension of chatbots that can intelligently handle complex interactions for businesses.
2. Predictive Customization/ Predictive Analysis
Artificial intelligence has given a major contribution in helping businesses by improving customer experience and customer engagement.
Consumers will no longer change their pattern of communication when interacting with brands in order to satisfy their needs. Intelligent prediction and personalization are the keys to make a customer feel privileged like every brand or product experience is customized according to his/her penchants.
54% of executives say AI solutions implemented in their businesses have already augmented productivity
Companies are able to assess their customers’ penchants and their take on every single product by understanding their behavior. If talking about self-driving cars, their knowledge of preferred routes and in-vehicle entertainment drawn from previous behavior to enhance daily commutes. So, this is what predictive analysis does. (59% of executives have a conviction that artificial intelligence applications will improve big data in their companies.)
Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.”
– Steve Jobs
3. Empowering Sales And Lead Generation
As mentioned earlier, AI services should be considered synonymous with customization. Well, talking about AI services empowering sales, marketing, and lead generation, offering customers what they exactly need, and understanding their sense of affinity is something that is not humanly possible.
These things do not call for manual mathematics, intelligent automation is a key to optimize this valuable data.
64% of B2B marketers consider AI a vital asset for their sales and marketing strategy.
Artificial Intelligence identifies patterns to determine which leads are most likely to be converted into a deal, and formulate suggested actions that are, based on data, most likely to lead to the best possible results. Machine learning identifies patterns to determine which leads are most likely to be converted into a deal.
This is exactly how AI services deal with customer behavior and allow their customers to feel the personalized experience, thereby, turning them into potential prospects and better lead generation.
87% of companies that have availed AI were using it to improve email marketing. 61% of marketers were also planning to use artificial intelligence in sales forecasting.
Putting Our Final Thoughts:AI development company USA has a fortune chance to grab some astounding stats and upgrade their AI-oriented strategies. And those who are keen to develop AI services in their business; must give it a call ASAP for promising outcomes. AI is such an ingenious concept to adopt and, about the results; you all have witnessed the versatility of the same.
By 2021, 80% of emerging technologies will have AI foundations. This Gartner study shows how AI is impacting the market.
$42.04 billion: The estimated value of the global natural language processing market by 2026.