Artificial intelligence has become a progressive technology that is being utilized in different industries. It helps in streamlined operations and makes them efficient.
Regardless of whether AI is seen as a threat, it can contribute significantly to the global economy. It can increase the GDP by $15.7 trillion by 2030.
1. Personalized Assistance
AI can help businesses personalize customer experiences. This can be done by sending targeted content to customers based on their data and purchasing history.
For example, an online fitness app may ask new users whether they have any injuries or health issues before recommending workouts. Or a pet store bot may ask customers if they have pets before offering pet products.
With a streamlined customer service experience, your business will build trust with customers and increase their loyalty. This will lead to more customer referrals, higher sales and a stronger brand image.
2. Quick Answers
Using eGain Instant Answers, you can automate the curation of enterprise-approved content to produce instant answer snippets for knowledge articles. This helps users find answers to their questions without the need for keyword-based searches, while saving knowledge authors time on persistent content curation backlogs.
For example, if a customer writes in to ask about the details of an e-commerce website’s product, AI can help them quickly identify the best product to buy from the available choices. This can reduce confusion and help improve customer satisfaction by ensuring customers get the information they need when they need it.
Google is currently testing a quick answer function in Chrome OS that will offer information about any selected text on a website using Google Assistant, as long as it’s enabled on the user’s computer. It’s not clear when this feature will become a regular part of Chrome OS, but it will likely be rolled out in the near future.
3. Automated Responses
If your customer support team receives a lot of emails and you want to make sure they’re all answered quickly, you can turn to automated responses. They can help answer repetitive questions, suggest suggestions to build on a customer’s email and even create tickets automatically for you.
Using AI for repetitive tasks frees up your team to focus on more creative work and lets you get more done in a shorter period of time. The automation also helps your human agents provide more personalized and useful service to customers, which can improve satisfaction levels, increase conversion rates, and drive repeat purchases.
Google’s Smart Reply is a good example of an autoresponder that does a pretty good job of responding to email from customers without any help from humans. The company says it uses a machine learning platform that its in-house data scientists have been developing for a while now.
4. Convenience
AI is a powerful tool that can help you deliver more convenient and personalized customer experiences. It helps you segment customers, deliver targeted offers, optimize website flow, and proactively manage customer behavior to drive higher revenue.
For example, c-store operators can use AI to identify SKU assortment and space requirements across stores. They can also utilize AI to optimize inventory and delivery management systems, enabling better supply chain efficiency and lower costs.
Moreover, customer support teams can benefit from AI by using chatbots to handle more simple inquiries. This saves your team time and resources while delivering a higher customer experience.
5. Efficiency
AI helps you streamline your operational processes, allowing you to save money and reduce the risk of making errors. This is important because operations costs can account for a large portion of your business’s revenue and can be difficult to control.
For example, UPS uses AI-powered navigation systems to help drivers deliver packages efficiently and accurately. Its systems can determine the best route based on traffic and weather conditions, saving the company an estimated $300 to $400 million per year.
In addition, AI can take over manual tasks, freeing up your employees to focus on higher-value work. This allows you to spend more time and resources on delivering the best customer experience possible.