AI Facilitates a Better Understanding of the Customer
The combination of AI and machine learning for gathering and analyzing social, historical and behavioral data enables brands to gain a much more accurate understanding of its customers. Unlike traditional data analytics software, AI is continuously learning and improving from the data it analyzes, and is able to anticipate customer behavior. This allows brands to provide highly relevant content, increase sales opportunities, and improve the customer journey.
Sven Feurer, senior director of engineering and operations at SAP Customer Experience, shared his thoughts on using AI to enhance CX. “When it comes to customer experience, there is promise for broad impact. With the exponential growth of data arises an opportunity for both B2B and B2C brands to utilize it along with AI to improve everyday experiences for customers,” said Feurer.
“To deliver truly excellent experiences, all customer-focused business units—like sales, customer service and marketing—must work together and efficiently leverage AI tools for common goals. By doing this, AI has the potential to help brands connect with customers on a more personal level, thus increasing loyalty and securing trust not just for now, but post-pandemic as well,” he said.
CRM platforms such as C2CRM, Salesforce Einstein, and Zoho have integrated AI to provide functionality including real-time decisioning, predictive analysis, conversational assistants and other functionality that helps sales teams more easily understand and engage their customers. CDPs such as Amperity, BlueConic, Adobe’s Real-Time CDP, and ActionIQ have also integrated AI into traditional CDP elements to unify customer data and provide real-time functionality and decisoning for marketers, allowing them to gain a deeper understanding of what their customers want, how they feel, and what they are likely to do.
AI Chatbots Come of Age
According to a 2020 MIT Technology Review survey of 1,004 business leaders, customer service (via chatbots) is the leading application of AI being deployed today. 73% of respondents indicated that by 2022, it will still be the leading use of AI in companies, followed closely by sales and marketing at 59%. A recent report from Capgemini entitled AI and the Ethical Conundrum indicated that 54% of customers said they have daily AI-enabled interactions with businesses, including chatbots, digital assistants, facial recognition, and biometric scanners, and 49% of those customers found AI interactions to be trustworthy, up from only 30% in 2018.
AI for Hyper-Personalization
Hyper-personalization combines AI and real-time data to deliver content that is specifically relevant to a customer. According to Radanovic, consumers and brands are embracing conversational AI because it provides personalized experiences that are also much quicker and convenient than traditional ways of interacting with businesses, think waiting on hold for a phone call or clicking through tons of pages to find the right info. Along with a more personalized experience, AI can also help to eliminate the pain points in the customer journey.