Enhance customer experience
Artificial intelligence solutions are beneficial to both businesses and their customers. It’s much easier to justify collecting different types of data when you actually bring value. Most people are well aware of how much information companies such as Google or Facebook gather from them. But in return, we get what is called a “free” service. In reality, it’s “free” in terms of monetary payment – the currency we use to pay for such services is our personal information. And we’re mostly fine with that.
Users love the fact that Netflix shows them the movies that are actually fun, Spotify creates personalized playlists that they enjoy, Uber arrives fast and gets them to the destination at an affordable rate, Alexa prepares their shopping list. Companies know where we live, what our jobs are, where we are at a given time of the day, what we buy, what we watch, what we listen to. Thanks to observing users’ behaviors, they can make sure that the products or services they offer are relevant and attractive. They create customized experiences. And honestly, in the past, customized experiences were a luxury that only the most wealthy could afford. Nowadays, though, the vast amounts of data create patterns that allow companies to learn about users and be prepared to treat them in an individualized way.
Another important thing here is that AI is available non-stop. AI-powered apps can assist customers no matter the time of the day. In the transport industry, AI is used to communicate with customers in real-time to send personalized travel information and provide them with up-to-date information about their transportation, e.g. where exactly they are or when they’re going to arrive at their destination.
In the times when the market is extremely competitive, AI-powered solutions help create great customer experience which helps increase customer loyalty and boost sales. A study conducted by Zendesk shows that 42% of B2C customers purchase more after a good customer service experience, while bad customer service interactions result in 52% of customers not buying. 59% of shoppers who experienced personalization think that it has a big influence on their purchase decisions. When Amazon introduced their recommendation system, they saw a 29% increase in sales. These numbers show that the “everyday” use of AI that customers are already accustomed to brings real value.
Advantages of AI – limitless?
As you can see, the advantages listed below are all quite general. Why is that? Well, in reality, every use case brings different benefits. Artificial intelligence can improve customer service with the use of chatbots and recommendation systems, increase revenue by identifying and maximizing sales opportunities, predict product demand, classify customers, predict customer behavior, detect fraudulent credit card transactions, detect malware, review documents, do research, help diagnose patients… The list could go on. The key in looking for the benefits of AI is not in what other people think about it – it’s about finding the value it can bring to your organization.