In a recent market analysis from UBS, retail was ranked among the top industries predicted to be most impacted by artificial intelligence (AI) in the years to come. In fact, analysts have estimated that global retailer spending on AI will reach $7.3 billion per year by 2022, up from just $2 billion in 2019.
When it comes to where this money will be spent in the coming years, the majority of it is expected to be used to better the customer experience (CX), including everything from personalization to customer service. It’s an essential area to invest in given one in three (30 percent) consumers would post a negative review online or to social media if they received poor customer support, proving the need for enhanced CX to maintain customer loyalty, and even gain new shoppers. Brands are still just beginning to untangle the many advantages of using AI in retail, so let’s explore how AI can transform the customer experience.
https://www.mytotalretail.com/article/how-ai-can-transform-the-retail-customer-experience/
A lot of customer experience pundits are talking about AI.
They say it is ushering in a new age, a Customer Experience 3.0. OK.
As a notorious heckler, I thought I would have my team research the market, as it stands, in the closing weeks of 2018. My question was: Who cares about promises; I am exhausted by all this thought leadership; I want specific examples; what are AI-driven solutions capable of achieving for customer experience, right now?
So that is exactly what they did. Then we discussed how these solutions change or do not change the game. We put them into context, trying to understand how big a deal they really are.
http://customerthink.com/five-ai-driven-customer-experience-solutions-a-survey-of-the-market/
Mopinion has just released a new machine learning technology within its digital feedback analytics platform: automatic feedback categorisation. This technology employs machine learning techniques that make the analysis of qualitative feedback data – by way of labeling and categorisation – a much more fluid and systematic process.
https://mopinion.com/machine-learning-technology-for-advanced-feedback-categorisation/
The rise of artificial intelligence has led many people to believe that machines will take over many of the job functions in the marketing industry. However, when it comes to customer experience, the best results will occur when machines and humans work together, writes Dan Gingiss, VP of Marketing at Persado.
When people think of artificial intelligence (AI) and its technological cousin, machine learning, it often conjures up images of a robot taking over the job of a human. Indeed, “the robots are coming!” is a familiar refrain suggesting the human race will soon be invaded. If we can teach the machines to be as smart as humans, consume mountains of data in seconds, and continuously learn more at warp speed, isn’t the useful life of the human brain quickly coming to an end?
The answer: Absolutely not.
https://www.martechadvisor.com/articles/customer-experience-2/beyond-chatbots-how-artificial-intelligence-can-humanize-the-customer-experience/
Technology has been the cornerstone of economic growth around the world for hundreds of years. It has underpinned the last three industrial revolutions and is now the driving factor in today’s Fourth Industrial Revolution — marked by emerging technologies in a variety of fields.
Unsurprisingly, artificial intelligence is one of the key technologies driving this new revolution. As described in the 1950s by the father of modern computer science, Alan Turing, “What we want is a machine that can learn from experience.” His paper, “Computing Machinery and Intelligence,” is the earliest description of neural networks and how computer intelligence should be measured. While the concept of AI isn’t new, we’re only on the cusp of seeing AI drive real business value in the enterprise.
https://techcrunch.com/2018/12/13/powering-customer-journeys-in-the-age-of-ai/
Voice of the Customer (VoC) programs enable business leaders to gather the critical customer feedback they need to address customer concerns and shape the future of their products.
Traditional VoC programs are one-on-one interview based and can generate volumes of unstructured customer interview data. Making that information actionable is where the rub is, according to Maxie Schmidt-Subramanian, Principal Analyst of Customer Experience at Forrester.
https://www.cmswire.com/customer-experience/how-ai-is-impacting-the-voice-of-the-customer-landscape/
Unless you’ve been living under a rock, you’ve probably noticed that the term ‘artificial intelligence’ is being thrown around just about everywhere. It has become a major corporate buzzword and hype, especially among digital marketers. Meanwhile half of us still don’t really know what it means or better yet, what it can do for our business. That’s why we’re here to tell you specifically what AI can do for you and how it can make your customer feedback more actionable.
https://mopinion.com/customer-feedback-artificial-intelligence-ai/
Artificial Intelligence-powered virtual agents present significant potential to improve the customer experience (CX) in the contact center while reducing costs. Many companies are facing business challenges such as high customer expectations, limited automation options, difficulty in implementing and deploying new contact center technologies, and agent attrition. Fortunately, the opportunity for business leaders to address such challenges through cloud-based, AI-powered engagement is considerable.
https://markets.businessinsider.com/news/stocks/using-ai-powered-virtual-agents-to-optimize-the-customer-experience-of-your-contact-center-1027570822/
According to Adobe’s recent digital maturity survey, a majority of digitally mature companies are increasing their budgets in both personalisation and optimisation in order to stay competitive. Leading brands understand the best experiences are consistently personal.
Yet, many companies struggle to scale the delivery of personalised experiences across channels. To solve for these challenges, Adobe today announced new artificial intelligence (AI) innovations with Adobe Sensei, the company’s AI and machine learning technology, in Adobe Target and Adobe Experience Manager, part of Adobe Experience Cloud.
https://itbrief.co.nz/story/how-to-use-ai-to-optimise-customer-experiences/
The brands that have stood the test of time are those that understand the need to transform their brands to continue their relevance with a particular audience. Not content with the status quo, these brands maintain their core attributes while revamping particular aspects of the brand to deepen their meaning and connection, thereby providing an enhanced customer experience.
https://www.forbes.com/sites/steveolenski/2018/08/14/how-a-brand-transformation-impacts-customer-experience/#7bfa93b95abc/
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