Optimize E-Commerce Business Models with Intelligent Automation in Customer Service
It is no longer possible to imagine a working world today without the internet. Likewise, AI technologies are expected to have a disruptive impact on existing business models. Intelligent automation makes it possible to replace “old” processes with more efficient solutions. Anyone who recognizes these opportunities too late will quickly lose out in terms of competitiveness.
Artificial intelligence is already one of the hottest trends in online commerce. According to Gartner, 70 percent of all companies will be using AI to increase the productivity of their employees by 2021. Now is therefore high time to integrate AI into your business model.
The good news is that not all business processes need to be performed using artificial intelligence to ensure the future viability of the company. Proceed strategically by using AI in a targeted manner: automate customer service processes that will benefit your entire organization.
What you will learn in this blog post:
- Why your customer service is the optimal starting point to align your business model with AI
- Which aspects of the way your service team works are changed by intelligent automation
- How AI in customer service brings competitive advantages and financial benefits to your company
Optimize The Business Model From Within Customer Service
Changing a business model to create new competitive advantages is a complex matter. A proven starting point for this, however, is the optimization of existing processes in the company to ensure greater efficiency.
This is where AI comes in. Anyone who uses AI technology to improve their business processes will reap the benefits of new opportunities that go beyond simply eliminating weaknesses. Artificial intelligence makes it possible to improve internal resource management and the organization of work so that the entire company becomes more competitive.
So where should you start integrating AI into the business model? Instead of looking at processes of the entire company, start where employees spend a lot of time on routine activities that can be simplified by intelligent automation: your service department.
Many companies are already aware that using artificial intelligence in customer service unleashes enormous potential for the organization. The implementation process, however, is not all that straightforward.
Why? They don’t know exactly which processes in the service department can be changed by AI and how they can benefit financially from intelligent automation.
How AI Software Changes Work Processes in Customer Service
Managers have a key role to play in the introduction of AI solutions in their company: they are the ones who have to identify where humans and machines should work together to open up new opportunities for value creation.
But what does this cooperation look like in concrete terms? Artificial intelligence in customer service does not mean that the agents’ work is completely handled by a piece of software. Rather, AI supports your employees by processing some tasks in a fully or at least partially automated manner.
There are many starting points for the automation of work processes by AI, especially in first level support. These are recurring, similar activities or customer inquiries that are easy to solve. Here are some examples:
- Answering questions where the answers can be found in the FAQs
- Information on the status of orders
- Master data changes at the request of the customer e.g. telephone number
- Supporting customers in finding certain user account information on the website e.g. invoices
- Sorting incoming customer inquiries in the email inbox into subfolders according to topic and urgency
How does the automation of these tasks affect the way the service team works? Many inquiries received by customer service via email, chat or telephone can be answered by AI on all channels – 24/7 and in real time.
AI will handle a large proportion of the tickets, while the employees continue to process new inquiries. This brings three main advantages:
- The entire service team (AI included) processes more tickets per day, which enables you to increase productivity in the service department.
- Customer waiting times on the phone or for responses by email are reduced many times over.
- Your employees have more time to engage in direct discussions with customers. This means that your first level agents can already obtain information on issues that require a little more explanation. Your second level agents will then also start with increased knowledge when it comes to solving problems with customers.
In short, intelligent automation enables you to deliver faster, more personalized and higher-quality customer service without hiring new employees.
Process Optimization Through AI in the Service Center: How Does the Whole Company Reap the Benefits?
80% of companies consider a positive customer experience to be the most important competitive factor. They are certainly correct in their assessment, as 75% of customers bid farewell to a brand after negative experiences with its customer service.
Excellent customer service is the number one differentiating factor to enable you to stand out from the crowd. By using AI in your service department, you not only improve the processes within the department; you also contribute to an optimal customer experience and give your entire company a decisive competitive advantage.
The entire organization also benefits financially from using AI in customer service, as you can expect a higher ROI. Intelligent automation increases both the efficiency and productivity of the service team, as the department is now able to process a larger volume of tickets per day on a case-by-case basis – all without increasing the number of employees. As a result, the average spend per incoming inquiry is reduced, delivering measurable cost savings.
parlamind is a Berlin-based start-up for Artificial Intelligence in Customer Service. The parlamind AI understands incoming messages from customers on a semantic level and thus determining intents, specific content and the mood of the customer in the message. Equipped with these skills, the AI engages in customer dialogue independently and quickly carries out the associated processes. Latest research results from the fields of computational linguistics and machine learning form the basis for the continuous further development of parlamind AI technology. parlamind has been part of the 4TechnologyGroup since July 2018. The 4TechnologyGroup is an association of technology companies from the communications and AI sector. Today companies worldwide in the industries of e-commerce, information and communication technology, energy management, logistics and financial services use parlamind’s AI solutions. More than 20 employees work continuously on the further development and marketing of this unique technology “Made in Germany”.
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