The advent of machine learning and artificial intelligence (AI) has created a new dimension of competition for businesses—the ability to offer an excellent customer experience. And businesses in nearly every market want to use these disruptive technologies to differentiate themselves and win customers.
Machine learning enables companies to use data they’ve collected to optimize a defined objective, rather than being explicitly programmed with rules. While the theory around machine learning is not new, the recent abundance of data and performance improvements has enabled an uptick of artificial intelligence (AI) results over the past few years.
Forward thinkers like Stanford professor Andrew Ng compare AI to the advent of electricity more than a century ago; the media presents almost daily examples of real-world AI applications that create tremendous economic value and transform entire industries. In fact, tech giants like Google are pivoting their corporate strategies from mobile-first to AI-first initiatives. AI creates tremendous value in any industry that mediates large amounts of data, which pushes business leaders to use the technology to differentiate and protect their business from disruption.
AI and the Customer Experience Revolution
AI is real and it creates increased competitive intensity across brands. Traditionally, brands had two main differentiators or dimensions—cost and perceived quality (see figure 1 below). Now, customer experience adds a third dimension, or differentiator (figure 2). Low cost and product quality won’t go far against competitors who transform their customer experience and delight their clients.
AI impacts the customer service industry in multiple ways. And it breaks through the differentiation barrier on all three dimensions—cost, quality and customer experience (figure 3).
- It creates endless optimization opportunities to reduce costs.
- When coupled with humans, AI enables companies to increase the quality of output.
- AI is the ultimate technology to address poor customer experience.
Trends in the Customer Experience Market and the Genesys Approach
As the world-leading contact center and customer experience platform provider, Genesys leverages AI to power excellent customer experiences while creating opportunities for business efficiency. Companies can do business faster, for less money and while offering a better customer experience.
And through our technology leadership and Blended AI strategy, Genesys helps you differentiate within your industry to:
- Reinvent self-service and automation through AI
- Leverage AI to augment employees and, ultimately, improve customer experiences and business outcomes
- Unlock the value of the contact center, inside sales departments or telemarketing interactions for key business purposes
In our webinar, “Building the AI-Powered Customer Experience Center of the Future,” I’ll walk you through a typical interaction between a brand and the customer or prospect—as we envision it at Genesys (Summary view figure 4). We’ll also cover some examples of AI-powered applications developed at Genesys to give you a sense of how to get started with the technology—and how we can help.