Transforming customer service: the impact of AI

Customer service is the bedrock of solid business operations, and an area where technology can play an important role. Companies have used clunky, automated systems for years, it has frustrated consumers who have come to expect immediate, personal responses. Customer service drives over two-thirds of customer loyalty, outperforming brand and price combined, according to a study by Gartner. Major advances in AI and personalisation promise to improve customer service departments. AI may enable businesses to automate processes, alleviate pressure on agents, gain insights from data and improve interactions. However, AI can also lead to a lack of personal connection and concerns about data privacy, security and job displacement. Moreover, the expectations around customer experience differ across generations: what wise elders and spirited youths want are not always the same. AI may bring fast-paced, impersonal interactions that are preferred by some but not by others. It can transform a company’s customer services but how it is implemented requires careful thought—and can harm customer satisfaction if not harnessed well. The panel discussed: -How are advances in technology and evolving consumer expectations transforming customer service? What are the impacts of AI and personalisation? -Will generative AI be transformative for customer service, and if so, how? -In what ways are consumers’ expectations changing, and how must conversational commerce and services change to meet the preferences of different generations? -How can businesses strike a balance between AI-driven automation and human interaction to enhance the customer experience? How can AI help companies streamline workflows, reduce expenses and thus have the funds to boost reinvestment? -What are the privacy and security concerns associated with AI? How can businesses ensure robust data protections? -How can businesses navigate the trade-offs between the benefits and downsides of AI in customer service?