Customer Experience, Artificial Intelligence and Machine Learning

  • “The unfortunate reality is that 78% of consumers have bailed on a transaction or not made an intended purchase because of poor service experience. In fact, companies only hear from 4% of its dissatisfied customers.
  • That same person using the AI tools that we created, can now read 100,000 publishers, and 300,000 stories a day, covering 26 million topics and find relevant videos from more than 40 global broadcasters.”

https://towardsdatascience.com/customer-experience-artificial-intelligence-and-machine-learning-748d8c1e1127

Image via https://unsplash.com/.

Banking Interest in Conversational AI Jumps During COVID Lockdowns

  • “Financial institutions are realizing that long-term adjustments will be required in how retail banking is conducted.
  • This dramatic shift has sharply increased interest in various types of conversational banking, especially as a means to ease the pressure on call centers.
  • The poster child for conversational AI in banking right now, however, is Bank of America’s digital assistant known as Erica. The mobile app that can respond to both voice and text-based questions was growing rapidly even before the pandemic hit the U.S. in March. Ten million users had downloaded the app as of yearend 2019, about two years after its launch.”

https://thefinancialbrand.com/97773/conversational-ai-voice-banking-credit-union-chatbot/

When The Unexpected Leads To Innovation

  • “In 2010, the number of internet users was 2.03 billion worldwide. That number more than doubled to 4.13 billion in 2019—making the rapid, en masse shift to working from home much more feasible.
  • Nitin Badjatia, head of customer service management product strategy at ServiceNow, believes the pandemic will inspire companies to double down on the move to digital transformation.”

https://www.google.com/amp/s/www.forbes.com/sites/servicenow/2020/04/23/when-the-unexpected-leads-to-innovation/amp/

Expert: Bots should be less human

  • “Our goal is to make humans less robotic by diverting the mundane, repeatable tasks to automations, which will allow humans to do what they do best — be more creative, show more feeling, and make a real impact,” said Erik Ashby, Director of Product, Helpshift.
  • “For example, when IBM’s Watson was unveiled and won Jeopardy, the world was astounded that a machine could be so “intelligent” and hypothesized all sorts of use-cases for the technology. But when Watson was applied to customer support, it wasn’t focused, was far too complicated and wasn’t proving useful to brands,” said Ashby.”

http://www.bizreport.com/2020/03/expert-why-bots-need-to-be-less-human.html