Transforming Customer Experience with Artificial Intelligence
Using Artificial Intelligence to deliver superior customer experience (CX) provides a competitive advantage to the organization besides increased customer satisfaction, loyalty, and advocacy. Artificial Intelligence is a technology that imitates human psychology and intelligence and can automate potentially any repetitive task. However, the transformation comes from its impact the way it is used to engage and assist customers and employees. The factors driving today’s customer experience are the evolution of the digital economy, the growth of subscription services, multi-channel experience, knowing customer DNA, and trust for data privacy.
The customers expect to have personalized, frictionless, on-demand and data-driven experience helping them to make a better decision. However, to deliver on this expectation of ‘always connected’ customer, the business must embrace the technology. Poor customer experience can lead to higher churn, diminished reputation, and reduced recommendation. Using Artificial Intelligence to deliver compelling experience can help business to deliver on customer’s expectation significantly.
All the leading CX platforms are leveraging AI to build high-value use cases with their platform and offer better customer experience. For instance, SAP C/4HANA offers AI and ML powered rich, individualized experience delivered at scale without adding to workforce numbers or costs. It uses SAP conversational AI bot to understand and respond to humans best complementing sales or service agents. It also enables users to forecast intelligently and precisely and create adaptive commerce for higher conversion and optimized channel performance.
Right CX strategy
The business needs to have a well-defined approach embedding the following points to leverage AI effectively and implement a successful project.
- Defined use-cases. The success of using artificial intelligence for customer experience requires clear use-case that provides the starting point to collect relevant data for AI engine.
- A common organizational goal. The business should have common goals across functional units. The departments should break silos and have common goals to get the best out of AI-based.
- Data integration and harmonization. A well-designed system architecture is essential for successful implementation of AI-based applications that connect and integrate with other systems to collect relevant data points and harmonize them. The blended data set fuel AI engines for learning, testing, and etc.
- Partner ecosystem integration for end-point management and real-time insights.
- Contextualized customer journey. For an AI-based system to deliver value, it must be given the context from customer journey touch points to understand where the customer stands and help to enhance the customer experience.
Building blocks of CX transformation
The businesses armed with the necessary strategy and goal is fully equipped to exploit AI for improving customer experience. Some of the use-cases of AI-powered Customer Experience is:
- Automating Customer Desks. The use of chatbots and virtual assistants has been widespread to deliver a human-like interaction to customers. They can respond to the most common queries in a customized manner.
- Back-office Automation. This includes using AI for CRM data analysis and provides insights about sales forecasting, supporting with prioritizing leads and opportunities, and identifying new customer segments.
- AI-driven Customer Analytics. AI systems swift through larger and complex data set to extract customer intelligence and use it to develop new business opportunities with new products, upselling and cross-selling of products and services.
- Predictive Personalized Experience. AI can provide a better understanding of the customer requirements to make intelligent predictions and provide a superior experience with customized presentation or recommendation. It can be as complex as understanding customer sentiment and emotion analysis for a more intelligent and human-like interaction.
- Streamline Purchase Processes. With omnichannel integration for various point of sales, it is now possible to identify and understand the customer purchase pattern. Using AI can help business to assist customers for the simplified purchase, upsell or cross products.
Where is the future?
The use of AI is enabling businesses to unlock innovation and automation opportunities. It is creating a more efficient workplace allowing the business to focus on valuable tasks. Today, customer purchasing pattern splits across multiple channels. As the technology evolves, we expect the unified customer journey touch points – both offline and online, assisting business with more profound customer insights to create and deliver more values to their customers.