For Companies, AI Is Actually A Chance For More Customer Contact, Not Less — Here’s Why

  • 📰 ForbesTech
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 59%

Mike Murchison News

United States United States Latest News,United States United States Headlines

Mike Murchison is CEO of Ada, an AI-powered platform transforming how brands around the world interact with the people that love them. Read Mike Murchison's full executive profile here.

It’s often assumed that AI will make relationships with customers worse—or even nonexistent. Businesses only want to offload customer service to AI so they can save money,

But once a company scales, something strange happens. Dealing with customer issues comes to be seen as a cost, not an opportunity. Even as marketing teams go out of their way to reach new customers, customer service does its best to deflect existing ones, hiding behind phone trees and long wait times. Why? Time, money and resources.. For standard calls, I’ve seen costs of around $10, but that number can easily jump to $100 and up for more technical issues.

Critically, AI also enables the capture—and parsing—of more customer data than ever. Conversations can now be analyzed and actually learned from. With generative AI, it’s like having a team of MBAs dissecting each call into component parts, gleaning insights along the way. As AI shrinks the cost of customer service, it can help bring new products to market. Let’s say a company only makes red umbrellas. By analyzing customer conversations, AI learns that people keep asking about pink ones. The product team is alerted, and a new product roadmap takes shape.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 318. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Don’t Let Mistrust of Tech Companies Blind You to the Power of AIIt’s OK to be doubtful of tech leaders’ grandiose visions of our AI future—but that doesn’t mean the technology won’t have a huge impact.
Source: WIRED - 🏆 555. / 51 Read more »

Power companies brace for hurricane season: Are you ready for the storm?Forecasts call for an active hurricane season. NOAA is predicting 17 to 25 named storms over the next 6 months.Eight to thirteen of those are forecast to become
Source: mynbc15 - 🏆 262. / 63 Read more »

Rideshare companies fear ‘damage to our brand' from backseat sex assault claimsAccording to data made public by Lyft, there were more than 4,100 reports of sex crimes or sexual misconduct from users of the rideshare platform between 2017…
Source: NBCNewYork - 🏆 270. / 63 Read more »