The new Digital Business Modeling is the process that has been able to disrupt the traditional and somewhat medieval cultures in companies. The newly implemented variations include the amalgamation of telecommunications-based solutions such as weChat, digital marketing solutions, and e-commerce amongst others. This article will be reviewing the methods in which Artificial Intelligence AKA robots are now developed enough to handle some critical customer services. This development has a direct impact on one of the biggest factors, which customers look for i.e. quick customer support at all times.
AI For Businesses
In today’s time, businesses have been able to garner unique advantages all due to AI. The main use of AI has been the quick response times (or the FRT, which is the first response times). AI has been touted to take over the world, however, it is also providing interfaces that are revolutionizing customer service; these platforms can answer several fresh prospects while also answering current customers. While the quality of issue understanding has been weaker as when answered by humans, this is because the AI is unable to process emotional signals; however, the quality of all the answers is highly consistent with regards to grammar and spellings. AI holds the potential to be able to prequalify customers who need to be directed to human representatives, which results in time-saving. A very common example of AI is the virtual assistants in our homes such as Alexa and Siri. Additionally the rolling out of 5G connectivity allows further integration of AI into daily lives.
A Balance To Stive For –Human Element Are Necessary
Despite having AI-backed chatbots, companies need to consider having some percentage of human touch to overcome unusual universal responses to the callers. Chatbots can win over clients due to 24/7 response times. The AI-backed chatbots are posed a cyber security threat as they are easy for hackers to access. These hackings aim to steal customer bank data which is a major breach of trust for the firm. Additionally, customers tend to be more sensitive towards interacting with AI bot-based interactivity due to the inability of AI to understand and perceive the emotions humans have effectively. AI can be trained to understand the nuances relating to languages as well as articulation but they are not developed enough to understand notions. The lack of empathy can lead to customers feeling disappointed, annoyed as well as make them resign as customers.
While AI-based customer service solutions are quickly gaining interest and acceptance, in one of the most commonly called for industries the telecommunication service providers located in the USA. They have been able to equip their customer services department with the required knowledge, expertise, as well as solution-oriented training regarding the use of AI and Chatbots for customer services. For instance, as found with Mediacom customer service, which has resulted in offering instantaneous help while also being highly responsive at the right time for all customers, cutting down the costs that can be spent towards efficiency. This makes customers happy and satisfied with the support they know they have got.
The equilibrium: Humans and AI
Some of the important considerations which any organization needs to consider before implementing AI in their systems:
• Understanding the distinctive capabilities of Artificial Intelligence systems and humans
• Letting humans respond to emotional requests from customers
• Testing bots in live environments with real customers
• Monitoring the system constantly
The Artificial Intelligence technology used in Chatbots has wide-set uses. These systems allow customers to book doctor appointments online, transfer payment via an online solution, and presto! has a visit to the doctor! On the business front, the international chatbots market has been projected to grow at 24.3% CAGR or the US $ 1.25 billion by the year 2025 as projected by Grand View Research. The use of AI has increased in the wake of the COVID pandemic: with only essential activities taking place in person, everything has been shifted online. This led to an increase in the use of AI to help people cater to their normal lives and routines as they did before the pandemic and the worldwide shutdowns.
AI Is Here To Stay
While the world evolves, the use of Artificial Intelligence is becoming more and more common. The ease and quickness with which tasks are done as well as the 24/7 availability allows firms and customers to be connected as and when needed. However, the largest downfall is the lack of security in the AI solutions since it allows access to company servers and hence sensitive customer information.