Assume your customer was looking for a fitness tracker and came across your brand while researching, and landing on the product page. While pressing the purchase button, he noticed that the website was taking too long to load. That gave the customer the wrong impression, and he quickly left your site in search of a better product.
In this case, the customer is less likely to return to your website due to a poor customer experience.
Quality customer experience is the foundation of an organization’s success in today’s world. A delightful customer experience increases overall customer satisfaction and loyalty, ultimately converting customers into brand advocates.
Customer centricity is the first step toward providing a better customer experience. To meet emerging demand, AI is assisting businesses in replacing the old, disjointed customer experience.
Not only do AI and automation improve customer experience, but they also save time and money.
How Can AI Improve the Customer Experience?
When we think of AI, we often envision robots replacing humans in the workplace and other scenarios seen in any sci-fi film. However, the reality is not like sci-fi movies.
AI is providing enormous benefits to industries. Businesses that have integrated AI to improve the customer journey have seen an increase in positive customer feedback. AI can increase work efficiency, reduce call processing time, and reduce complaint resolution time.
Companies that have integrated AI into their services are said to have increased intimacy and created hyper-personalized services for their customers. Customers in this hyper-personalization era are looking for customized services that can go deeper to solve their pain points.
AI enables a much more in-depth understanding of customer behavior. Analyzing historical and behavioral data can help businesses gain a better understanding of their customers.
Chatbots can respond to customer complaints and are available 24 hours a day, seven days a week. Omnichannel technology enables the consolidation of all communication channels into a single dashboard for easy customer interaction.
Many industries have invested in AI to meet customers’ emerging service demand in 2020, as they watch a more significant shift in consumer behavior. AI innovations are benefiting businesses.
Continue reading to learn how these industries are using AI to improve the customer experience.
4 Industries that are Using AI to Improve Customer Experience
Although it does not include every industry that has implemented artificial intelligence to provide a superior customer experience.
This article will provide a solid overview of how AI aids in the resolution of common customer objections across a wide range of industries and ensures a delightful customer experience to establish a meaningful customer relationship.
Here is a list of four industries implementing AI in their operations.
Retail and E-commerce
E-commerce and retail are the industries that benefit the most from the best use of AI.
Due to the closure of many local stores in 2020, customers worldwide became heavily reliant on online purchasing.
A massive increase in orders, a disrupted supply chain, and unexpected changes in consumer behavior. All of these have had a significant impact on the e-commerce and retail industries. However, amid this chaos, many businesses have seized this opportunity and gone the extra mile to win the hearts of their customers.
Amazon employs machine learning to make relevant product recommendations to customers, and AI predicts other product recommendations that customers may be interested in. In 2020, Amazon’s global sales increased by 26% in Q1 and 42% in Q2.
Banking and Finance
In terms of reaping the benefits of AI, this industry is reaping the highest dividends.
AI has become a symbol of increased efficiency while lowering financial space costs in recent years.
AI has provided the finance and banking industries with a completely innovative approach to meeting the demand of customers looking for a smart, secure, and dependable way to save, spend, and invest their money. It added a delicate touch to the banking industry. Customers can use AI to make better financial decisions while also reducing data security risks.
From cybersecurity to decision-making, here’s how AI is transforming financial institutions.
Telecommunications and Customer Service Centers
By 2022, the telecommunications industry will have a market valuation of $2.2 billion. And the demand for AI in this sector is skyrocketing.
While the implications of artificial intelligence and machine learning are significant in telecommunications and contact centers, there are numerous examples of how call centers use data and machine learning to provide a stellar customer experience across their organizations.
AI is covering it all in call center companies, from automating customer service to skyrocketing sales.
Medicine and Healthcare
Artificial intelligence technology has enormous potential. If there is one industry that would make consumers’ lives much easier, it would be healthcare. The cost is the most significant issue that consumers in this sector face. It is expensive to obtain quality healthcare in the United States.
Robots and artificial intelligence have numerous applications in healthcare. A technically advanced ‘smart hospital’ can revolutionize surgeries and patient care. However, this industry is slower and more conservative in adapting to these changes.
This will likely change as more technology companies collaborate with healthcare providers in the coming years. This brings us to some AI applications in healthcare and medicine.
Disease Recognition and Treatment
Instead of robots, AI in healthcare refers to doctors and hospitals having access to a vast array of potentially life-saving data sets. This includes treatment methods and their outcomes, as well as survival ratios gathered from millions of patients from various geographical locations who share interrelated health conditions. By analyzing data on a large and small scale, artificial intelligence can detect and predict anomalies.
Machine learning is intended to detect health issues in the healthcare sector. It also employs a statistical approach to enable computer systems to read patterns and make decisions with little human intervention.
