AI, automation & advanced advisor performance
Over the last few weeks, we’ve seen an incredible amount of interest in ChatGPT, the Large Language Model developed by OpenAI.
With a neural net made up of billions of language elements, ChatGPT takes your input and then builds on it with additional, coherent text based on its library of accumulated writing. In doing this it has provided a simple yet effective insight into the immense potential power of AI and Automation - so it’s hardly surprising that it has been the fastest-growing consumer application in history.
And, of course, it didn’t take long for others to get in on the act.
Microsoft has partnered with OpenAI, launching an integration that gave its Bing search engine powerful AI capabilities, while Google followed quickly with its Bard AI-powered search feature. Soon after, inevitably, stories appeared saying that these AI-enabled search engines ‘wanted to be human’ and were ready to ‘unleash destruction on the Internet’.
For me, this just seems to follow the standard build it up/knock it down press cycle and is a distraction from the incredible potential of tools such as ChatGPT. Analyst firm Gartner, for example, estimates that the Generative AI sector has already attracted over $1.7 billion in venture capital investment.
The Democratisation of AI Continues
At Sabio, we’re excited about the impact that these tools could have on customer service and customer experience in the contact centre – a topic that our Chief Innovation Officer, Stuart Dorman, discussed at our recent Disrupt event. We see Generative AI tools such as ChatGPT as another important step in the ongoing democratisation of AI, particularly as we move quickly to the point where almost every customer interaction will be fronted by AI in some shape or form.
Available now, these solutions are already delivering quantifiable benefits, and – according to Ventana Research – it’s estimated that, by 2024, 75% of organisations will have explicitly introduced more than one AI or machine learning application into their contact centre service processes.
Already in the customer service sector many organisations have benefited from AI-based projects, with conversational AI and intelligent chatbots deployed to automate many simpler transactional requests. For customers, this translates into a less frustrating experience – not just through automated conversational AI for first contact, but also in terms of more effective conversations with advisors who are increasingly supported by AI.
For advisors particularly, conversational AI serves as a great data collection tool as customers are passed through the process of collecting the reason for the call, ID&V and pulling data points from the CRM. It’s really important that this information is accessible as it helps enable a seamless relationship for the customer as they move from the virtual to the physical advisor while avoiding wasted time repeating the reason for their call. This transition also supports more efficient and personalised interactions where advisors can drive significant value.
AI Insights Empowering the Contact Centre Advisor
AI’s ability to listen in to customer interactions means that advisors can now also benefit from an augmented experience that equips them with key contextual insights that can help resolve more complex conversations. AI analysis of interactions means you now know far more about why customers are calling, and the reasons why they selected the options they did before getting in touch. This data is invaluable in supporting precision routing, allowing specific calls to be routed to the best-matched advisor.
Combining insight into a customer’s interaction history, the provision of an augmented experience, and much more accurate routing all contributes significantly towards reducing advisor stress and improving mental wellbeing. Add in additional functionality such as surfacing insights from data at key times, and the automated summarising of customer calls, and it’s easy to see how AI and automation is playing an increasingly important role in supporting advisors and enabling them to deliver enhanced performance.