“One of the fastest areas of adoption for AI in the enterprise is chatbot applications. It’s often a good place for companies to get started with AI and see quick results. By 2024, Insider Intelligence predicts that consumer retail spend via chatbots worldwide will reach $142 billion– up from just $2.8 billion in 2019.
TechStyle, an online retailer, implemented AI to stand apart from the competition. With 5 million members, 6 million phone calls per year and 3 million chats per year, communication is core to its business. By integrating AI, TechStyle saved $1.1 million in the first year in operations costs and achieved a score of 92 percent in its member satisfaction survey.
The volume of customer interactions agents handle has increased by nearly 20 percent on average and spiked 35-40 percent in some cases during the pandemic, according to a poll among Genesys Customer Advisory Board members. This puts tremendous pressure on agents and technology on the front lines of these interactions.”