If there was one mantra that resonated in the customer experience realm this year, it was engagement. Customers are demanding engaged interactions through a variety of channels and are using their purchasing power to transform the entire customer service industry. The role of AI is still being defined as it relates to the customer experience, but AI and automation are already an entrenched part of the market with plenty of room for development.
Despite a host of technological advances in integrating AI into the customer experience, businesses and brands are still falling short of customer expectations. According to Forrester Research’s latest Customer Experience Index report, 287 brands, across 19 vertical industries, were ranked in terms of their customer experiences. A whopping 250 of those brands either stagnated or declined, according to consumers, while only 37 brands met customers’ expectations in terms of engagement and CX. That’s an alarming trend during a time when CX is paramount to retaining business and attracting new business.
And so enters AI, which can dramatically improve CX and help businesses and brands with engagement, when deployed properly. Forbes broke down several examples of how AI is being used in different vertical markets to increase customer engagement and improve CX. One of the key takeaways in the retail market is that the top one percent of customers are retailers’ bread and butter, worth 18 times more than the average customer. Tailoring CX to meet the demands of those customers is essential for success, and AI-enabled personalization can be a huge benefit to any business. AI can enable extreme personalization in the form of messaging, newsletters and promotions, all delivered at the appropriate times and to the correct devices, as dictated by those high-tier customers.
AI is becoming mainstream in the fintech and banking sectors, and the Royal Bank of Scotland is a prime example. The bank manages 17 million customers and has used AI to leverage data intelligence and generate new forms of customer contact. The goal of the AI integration is to keep a continuous conversation going with customers, generating brand loyalty and certainly improving the CX and customer engagement.
The travel industry has also been a major proponent of AI, and Air Canada recently deployed an AI and machine learning data analytics system to improve its mobile app. The solution offers insight into customer behavior across both digital and offline channels, helping the company better serve its 45 million annual customers and improve CX and engagement. AI has also made inroads in the hospitality industry, with Dorchester Collection, a luxury hotel brand, creating a custom AI analytics system to better serve customers. The solution evaluates guest reviews across 10 brands and delivers its findings in video form, enabling the brand to better serve and engage its guests.
To learn more about the role of AI for customer engagement and CX throughout a range of vertical markets, TMC is hosting its Future of Work Expo in Fort Lauderdale, FL. The event, which is happening February 12-14, 2020, will explore how AI and machine learning technologies are being used to transform the customer experience and are rapidly shaping the future workplace and planet.
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