Can AI and ML make customer service more efficient and less expensive?

Have you ever found yourself amid a customer support labyrinth, navigating through a maze of confusing options, only to be placed on hold for an eternity before finally hearing, "Hello, how may I assist you today?" It's a scenario we've all experienced, but have you ever thought about what it's like to be on the other side of that call? 

Picture this: being stuck in a never-ending loop of answering the same question repeatedly, all day, every day. Or, even worse, being completely stumped by a customer query and feeling like drowning in confusion. That's the nightmare that customer support teams face, day in and day out.

So, how can brands provide excellent customer service in a world of fleeting customer loyalty? Well, the answer to that question is Artificial Intelligence. Yes, you read that right - AI is the key to unlocking an exceptional customer service experience. 

With machine learning, you can revolutionise your business processes and take your customer service to new heights. Imagine providing personalised experiences for all your prospects and delivering even more effective customer service. And the best part? It doesn't have to break the bank! That's right - AI and machine learning are cost-effective solutions that can be easily achieved through services like Google Cloud and Amazon Web Services.

By 2025, live telephone and internet chats will make up 95% of all client engagements, according to Servion Global Solutions.

So, let's dive into ways AI and ML can revolutionise the customer service game!

Top-Notch Personalisation

Gone are the days when online personalisation was limited to simply inserting someone's name into a field. Thanks to machine learning, personalisation has been revolutionised! Now, businesses can utilise machine learning to analyze a customer's past interactions and use this valuable data to create highly personalised experiences that will leave them feeling heard and valued. This not only leads to better customer engagement but also strengthens customer loyalty. So, say goodbye to generic experiences and hello to personalised interactions that will make your customers feel truly understood!

Chatbot-based customer support

In today's fast-paced world, customer service representatives are expected to handle a high volume of calls while reducing the average resolution time for each customer. It's no easy task! Luckily, chatbots are here to save the day. These innovative bots offer speedy responses in real-time, helping customers get the answers they need lightning-fast. But that's not all! Chatbots are also equipped to handle many customer queries with the utmost accuracy and human-like behavior. This helps to alleviate the burden on human agents and allows them to focus on more complex issues that require their attention. 

AI Helps in Predicting Consumer Needs and Behavior

Say hello to predictive personalisation! With the power of AI technology, businesses can now create experiences that feel tailor-made for each customer. By analyzing past purchases and behaviors, AI can predict which items a customer might be interested in and even remind them when to reorder. And if that's not cool enough, streaming services can now suggest movies, web series, documentaries, and podcasts to customers based on their preferences. It's like having your personal recommendation engine! So, why settle for generic experiences when you can offer personalized ones that leave a lasting impression? Dive into behavioral analytics and uncover customer trends that will take your business to new heights.

How do you save time and money using automation?

With customer support automation, businesses can automate support processes using robotic process automation (RPA) and intelligent automation (IA). RPA is ideal for handling repetitive, rule-based tasks, while IA, which includes natural language processing, can mimic human behavior and interact with customers using natural language. And the best part? These cost-effective solutions can significantly reduce operational costs by minimizing human intervention, improving customer experiences, and boosting revenue by enhancing lead generation activities. So why stick to old-school methods when you can take your customer support game to the next level with automation?

Manage Thousands of Requests While Paying Less For Support

Customer support is often divided into various verticals based on purchase stages or product types, which means that each vertical requires a specific set of agents. By automating the support process, companies can reduce the number of agents under each vertical and function with limited but effective support teams. The remaining team members can then focus on essential tasks like customer onboarding and product walkthroughs.

By switching to automated support, companies can avoid the cost of hiring additional staff, reduce infrastructure costs, and even save on accommodation expenses. So, not only does automation improve efficiency, but it also saves much money.

AI Boosts Attempts to Retain Customers

You can effectively identify and address your customers' pain points with AI and machine learning algorithms. By analyzing real data, you can determine the areas that need improvement and prioritize them accordingly. Thanks to features like uninstall tracking, you can even turn a negative experience into a positive one by gaining valuable insights on how to retain your customers and win back those you've lost. With AI at the helm, the sky's the limit.

Conclusion

We have barely begun to explore all that AI can do for the customer experience, and the possibilities are endless. With AI and ML constantly advancing, companies on the cutting edge are uncovering exciting and innovative ways to take advantage of this game-changing technology. The future of AI is bright, and there's no telling where it will take us next!

The article has been written by Rohan Joshi, CEO and co-founder and Sudhir Prabhu, CTO and co-founder, Wolken Software