Artificial Intelligence Isn’t Just About Cutting Costs. It’s Also About Growth.

Artificial IntelligencePHOTOGRAPH BY DEAN HOCHMAN
  • “When it comes to automating customer conversations with chatbots and AI-driven virtual agents, the real value of that automation may well be in generating revenue and growth, not in cutting headcount.
  • Casual dining chain TGI Fridays decided to reach out to millennials with an irreverent, brand-appropriate chatbot. It has worked spectacularly well. Fridays’ chatbot has boosted the chain’s takeout orders by $150 million a year.
  • By 2018, there were more than 100,000 bots on Messenger
  • The reason is that true growth comes not from automation, but from improvements in customer experience.
  • One tough challenge at Dish was dealing with the flood of late orders for pay-per-view events, like boxing and mixed martial arts matches. When it put virtual agents in place to answer questions and take orders, Dish closed over $6 million in pay-per-view event revenue.
  • At the marketing services company HubSpot , a Facebook Messenger chatbot suggests useful content, pre-qualifies leads, and connects prospects with HubSpot’s salespeople. Compared to other sources of inbound inquiries, leads that the bot has prequalified are higher quality—they’re 40% more likely to engage productively with a salesperson.
  • Avis-Budget wondered if the system could help with revenue-generating calls—rental reservations. Before the customer gets on the line with a human, a virtual voice agent can typically collect five key pieces of information first. This saves time for the human agents and makes the whole system faster and more efficient.”

https://www.google.com/amp/s/www.barrons.com/amp/articles/artificial-intelligence-isnt-just-about-cutting-costs-its-also-about-growth-51559478600


P.V. Kannan is the co-founder and CEO of the San Jose based [24]7.ai, a vendor of AI-driven customer experience software and services.

P.V. Kannan, Co-founder and CEO

http://linkedin.com/in/pvkannan

Company Name: [24]7.ai

https://m.www.247.ai

https://m.www.247.ai/sites/default/files/2019-02-successfile/1804SSRetail.pdf

Leave a Reply