One of the biggest problems faced by senior executives today is around data crunching. Every day, massive amounts of data is generated by back-end executives. These are analyzed to obtain meaningful observations. On most occasions, the time taken to analyze the data renders it useless. Also Read - How AI will change the way social products are experiencedAlso Read - PlayGo BH-70 headphones launched in India with AI-driven active noise cancellation
From the customer, each time he or she endures the barrage of endless IVR messages to reach an agent only to be transferred multiple times, beyond other hurdles, only makes matters worse. IVRs seldom prove to be effective, as it becomes difficult to identify where a particular problem fits in the broad options they provide. As a result, a consumer often prefers to leave a call mid-way, resulting in bad reviews for the business. In reality, the culprit is the business communication framework itself. Also Read - Apple buys edge-based AI startup Xnor.ai for $200 million: Report
Enter Artificial Intelligence and Machine Learning. Perfectly suited to the demands of the millennial consumers, these cutting-edge technologies perfectly address every inability of the existing business communication structure to provide an unparalleled user experience. Enlisted below are a few significant advantages of AI enabled business communication solutions that make it an essential requirement for any future-ready business.
Speech to text conversion
Real-time Speech to text conversion ensures an entire conversation is quickly recorded for further consultations. Additionally, AI and machine learning powered communication solutions such as unique keyword identification, correlation and stress analysis, provided in real-time that ensures instant action based on the observations made.
One of the most exceptional abilities of AI-driven business communication solutions is to provide sentiment analysis of a particular conversation. Based on different parameters such as pitch, tone, volume, repetition of words etc. the technology identifies the pressure points and priorities of consumers to enable businesses provide highly personalized services. Every subsequent conversation is enriched by this analysis, and agents feel highly empowered when provided with this set of detailed information.
Massive data analysis
While data analysis is also carried out today by corporates, the average TAT (Turnaround time) ranges between a few days to a week. With AI driven business communication however, instant analysis is provided for real-time implementation of insights thus obtained. This increases the operational efficiency of an organization considerably. Furthermore, AI-driven communications also enables a business to record and carry out conversations round-the-clock, thus ensuring that no opportunity to address consumer issues is wasted.
Identification of common problems
It has been noticed that mostly, a number of users often have similar problems and precious time of agents is spent in resolving identical concerns. With AI-enabled communications, filtering of concerns is undertaken at the first step, thereby segregating queries and resolving them quickly. For instance, if a particular network or platform of an organization is experiencing a technical glitch, then customers calling in to enquire about the said problem can be addressed right at the beginning, leading to efficient customer service and enhanced positive engagement.
For a long time, business communication was reactive in nature, i.e. it hinged on recording consumer concern, analysis of a set of problems, identifying and assigning responsibility to specific departments and ultimate resolution. However, the process was arduous and time-consuming in nature and any mistake or error of omission at any stage takes the entire structure back to square one. With the emergence of AI-enabled solutions, business communication has successfully made the transition from being reactive to proactive, ably anticipating individual user concerns and enabling agents to always be a step ahead in the process of resolution, thereby developing a satisfied and continuously growing user base.
The author, Ajay Shrivastava, is Chief Technology Officer at Knowlarity.