That’s the potential grandeur of applying AI in different fields and industries of the world today! The UK government seems to have made the right move and at an opportune time too. AI is the intelligence exhibited by machines. These machines have competence in reasoning, learning, language processing, planning, and perception to help improve decision making of businesses. Basically, AI’s data crunching power will outsmart the smartest technologies of today.
Because of the hefty amount of data that are there without any practical use. Think of data as the collection of our consciousness. Similar to how consciousness helps us make clear decisions in our day-to-day life, ultimately the data-backed decisions will help us make things right. With data comes wisdom, the epiphany about things we were missing out on, these many years.
About Artificial Intelligence, Machine Learning, Neural Networking, and numerous other automation systems. The duty that we have on our table right now is to equip our future generations with ways to polish their brains. It’s all left to the ultimate skills they learn from the very first day of their life. You believe it or not, the traditional method of hiring candidates is long gone. Why are we all seeking open talent employees?
Not that long ago people used to call customer support whenever they had a question about a product. However, now that they have access to the Internet, they often try to find an answer themselves before submitting a ticket or picking up the phone. After all, no one wants to make themselves look silly by asking a question that is already answered on the company’s website.
You have just started work and your calendar looks packed for the rest of the day. There are several tickets in the queue and you start resolving them one-by-one. A frustrated customer reports an issue. You help the customer out and update the status of the ticket to “resolved”. Job well done.
Machine learning in customer service is used to provide a higher level of convenience for customers and efficiency for support agents. Support-focused tools enabled with machine learning are growing in popularity thanks to their increasing ease-of-use and successful applications across a variety of industries. Gartner predicts that by 2021, 15 percent of customer service interactions will be handled completely by artificial intelligence.
Providing good customer service is an art. Typically, someone calling into a customer support department is already angry and frustrated with the services your company offers, and it is the job of a skilled customer support agent to diffuse that issue and help that customer leave satisfied and smiling. Blindly fumbling about or taking a one size fits all strategy toward the happiness of your customers is a perfect recipe for failure.
Gone are the days when artificial intelligence (AI) was a mere buzzword. Today, AI is transforming our lifestyle. AI enables machines to perform a myriad of tasks with minimal human interference. Whether in sales, marketing, or customer service, AI has revamped business processes. According to a recent Gartner report1, 55% of established companies have started making investments in AI or have prioritized it for their immediate plan of action.
All our activities, online and offline, leave an almost imperceptible electronic trail. Traffic cameras “see” you cross a junction around the same time each weekday, your phone lets your favorite coffee shop know when and how long you visit through their “free” Wi-Fi. The data collected by these devices or from our interactions with others tend to end up in a data archive somewhere, unused and unanalyzed.
Artificial Intelligence (AI) has amazing potential to drive customer loyalty. Customer loyalty is a huge priority for most businesses. It’s one of the key facets of customer retention, as it reduces customer churn. Reducing churn is desirable since it typically costs four times more to gain a new customer than to keep hold of an existing customer. You also have a 70% probability of making a sale to an existing customer, versus 20% to a new customer.
