MIT Global Survey: 90% of Companies Deploy Artificial Intelligence in the Customer Journey
Date: 01st Feb 2019
A global survey of nearly 600 executives across 18 countries reports nine out of ten firms use artificial intelligence (AI) solutions to improve the customer journey. Additionally, large companies with more than 30,000 employees were over 50% more likely to have made major investments in AI for front-line customer interactions and analytics.
Humans + bots: Tension and opportunity – How top global brands blend human skills and AI to build customer intimacy and drive growth, is a new report from MIT Technology Review Insights, sponsored by Genesys www.genesys.com. It analyses how businesses use AI in customer experience and examines the resulting business performance and return on investment (ROI). The survey polled small to large-sized companies, with nearly half of respondents from large organizations with over $5 billion in revenue. One-quarter of those surveyed are based in North America.
Respondents note that AI dramatically improves the efficiency, processing speed and transaction volume of customer interactions. Almost 90% of companies report faster complaint resolution, and over 80% say they enhance call volume processing using AI. Additionally, the average respondent indicates that between 25% and 50% of all inquiries are now completely resolved through automated channels, leaving agents with more time to handle complex tasks.
Merijn te Booij, chief marketing officer for Genesys said:
"Businesses win big when they deploy AI to handle simple, repetitive tasks, saving human resources for more complicated or emotional customer needs. Pairing automation and machine learning with live agents leads to happier customers, more satisfied employees and – not to mention— financial rewards."
By implementing AI, 70% of respondents report they've benefitted from improved revenue. More than half of those surveyed note increases in overall revenue of more than 5%, while over 30% cite revenue growth of more than 10%.
The report also shows that 67% of customer experience leaders embrace AI not just as a tool to make customer experience more efficient, but to create deeper, more meaningful relationships with consumers. In fact, 74% of those surveyed say AI enables agents to spend more quality time with customers. And, over two-thirds of respondents say they employ automated self-service channels, instant messaging chatbots, and sentiment analysis to deliver highly personalised experiences that strengthen ties with customers. Additionally, 45% of respondents (and more than 75% of customer experience leaders) say AI helps them understand the difference between their stated brand
A majority of the 150 North American-based respondents are among those that have moved earliest to automate processes and enhance customer channels with AI assistance. More than 90% report their firms leverage AI enhancements across all stages of the customer journey.
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