What do (A)I think?

Author: Chirag Goel Xavier Institute of Management (XIMB), Bhubaneswar

Artificial Intelligence and Automation tools & services are assisting in the transformation of everything, from marketing data collecting and processing, to HR onboarding. While AI and automation have huge value in terms of internal time and cost savings, there is one area where AI may deliver even greater, more meaningful results: customer experience. We live in the twenty-first century, and technology has taken control of both our professional and personal life. It has caused businesses to reconsider their strategy and embrace a new era of service quality.

Artificial Intelligence in Marketing

AI marketing is a technique for enhancing the consumer experience via the use of technology. It can also be used to improve marketing campaigns' return on investment To obtain insight into their target audience, organisations use big data analytics, machine learning, and other procedures They establish more effective client touch points with these insights AI eliminates most of the guesswork involved in client interactions, whether it is for email marketing or giving customer service extraordinary customer experience. AI customer relationship management and customer data platform software’s have made it accessible to businesses without the exorbitant expenses traditionally associated with the technology. But what about the customers?

Benefits for Customers:

#1: Convenience

Customer satisfaction is based on convenience, as any customer will tell you. Many brands are moving to AI technology that can provide proactive service that saves customers time and effort. Amazon, for example, uses interactive Chatbots that helps in providing real-time assistance The chatbot delivers information such as current state of a customer’s order(s) or estimated time of arrival and even register complaints via the portal on the application with pre-set options to choose from Michelin, meanwhile, utilises AI to predict when a customer's tyres need to be replaced As a result, one of AI's primary advantages is its ability to properly use data to provide proactive service

#2: Personalised Services

Hyper-personalization blends AI and real-time data to deliver information tailored to a customer's individual needs It enables tailored experiences that are also considerably faster and more convenient than traditional methods of dealing with businesses, such as sitting on hold for a call or scrolling through pages to locate the information you need. Ai is helping to minimise pain spots in the client journey, in addition to providing a more personalised experience.

#3: Targeted offers

Artificial Intelligence continues to rise in popularity among marketers as well as business executives, and has become an indispensable tool for brands that want to create a hyper-personalized,

When big data and behavioural psychology are integrated, AI can successfully target customers and drive them to purchase using the knowledge obtained from these sources. Artificial intelligence (AI) has the potential to predict human behaviour.

Marketers may use behavioural psychologists' personality measures to better understand the underlying causes behind people's decisions. Brands can send customised communications that motivate and persuade people to act by combining demographics collected on potential customers with psychological profiles produced through behavioural research This helps the customers find either exactly what they were looking for or what they would have needed It helps save effort and time and also gives a feeling of being understood by a brand

#4: Deeper engagement

Once a brand has gained a customer, it must make every effort to keep that customer engaged Running exciting social media competitions, providing clients with intriguing video content, or keeping them interested throughout a customer experience are all ways to increase customer engagement For example, TGI Fridays, a multinational restaurant and bar business, has improved its customers' experience by investing heavily in AI When someone tweeted about TGI Fridays, booked a reservation online, cancelled a reservation, or paid with a credit card, the restaurant chain has attempted to use that information to improve an individual's experience with the brand. This type of interaction allows customer reviews to get through using NLP.

#5: Answers on all platforms

It's predictable that people choose to interact via instant messaging or their preferred social media platform. Organisations must be able to respond to them whether they contact brands via Instagram Messenger or WhatsApp audio. By using Conversational AI to automate customer support across all channels, brands can provide a tailored and comprehensive experience for each engagement while remaining true to their voice and tone. Additionally, the replies can be made more interesting by including complements such as movies, carousels, buttons, or forms

#6: Perpetual Availability

Because of the increasing speed and connectivity of the Internet, we now expect everything to be 'immediate' Millennials don't have a lot of patience As a result, organisations must assure high availability in order to provide support Chatbots powered by AI are quite useful They have sophisticated talks nonstop, 24 hours a day, seven days a week Customers can talk to chatbots at any time, and there are no time constraints on how long they can talk to them. With Chatbots, there are no provisions for vacations, sickness, or frustration. While a human agent may become frustrated or give up trying to solve a problem, this will not happen with technology. A company may rely on trained Chatbots to serve consumers regardless of time or other constraints

#7:

Increased Privacy and Security

On digital channels, ensuring secure transactions and protecting clients' data is an essential component of the service A security incident management policy, data isolation, and data protection in conformity with privacy and auditing standards are all important components of providing effective service When it comes to ensuring the detection and proper handling of risks, incorporating Artificial Intelligence becomes critical Brands that incorporate the feature have an upper hand in customer retention and increased brand reputation

Conclusion

With artificial intelligence and machine learning, it's time for a reality check. There's no turning back to the old methods of providing customer service. Businesses want AI-enabled solutions to anticipate client needs before they ask. For those that use AI in their customer care, it will undoubtedly improve the game. It is no longer an option, but rather a requirement for a customercentric organisation. AI-assisted customer service will boost efficiency, boost engagement, minimise reliance, and pave the door for new ways to outperform the competition Consumers that deal with AI more frequently are more positive about it

According to a Genpact study, customers are more than three times as likely to think that AI is improving their rather than making it worse with younger consumers more than twice as likely to say it's having a positive influence As a result of technical advancements and younger consumers who are expected to prefer more involvement with AI rather than less, AI is poised to transform the consumer experience