By: Prashant Sinha, Founder & CEO, BiUp.ai Advanced AI-driven technologies and analytics are transforming the world at a swift pace to enhance customer experience. These have the power not only to cater to present but future needs.
Increasingly, several industries are embracing Artificial Intelligence (AI), Extended Reality (XR), and Virtual Reality (VR) to enhance customer & product experiemce, reduce onboarding time, streamline operations, lower incident costs, and boost profits. As per 2023 report titled, ‘The next frontier of customer engagement: AI-enabled customer service’ published by McKinsey and Company, AI-driven customer service is now the quickest and most effective route for institutions to deliver personalised, proactive experiences that drive customer engagement. While companies are looking at AI with high hopes, in global banking alone, another research from McKinsey conducted in 2020 estimated that AI technologies could potentially deliver up to $1 trillion of additional value each year, of which revamped customer service accounts for a significant portion.
Truly, the disruptive nature of such technologies is worth noting. Let us understand more. AI can simply advance and analyse customer-centric data to recognise their needs and preferences.
Moreover, it can personalise interactions, handle queries and automate redundant tasks. For instance, Amazon has mastered its AI game with Alexa, the popular digital voice assistant. What more? It relies on AI to shi.
