How BMO and Truist use AI to improve customer experience
26/08/2025 14:45
The Good, The Bad And The Bot: How Chatbot Experiences Can Make Or Break Your Business
Perhaps AI sees that the customer has a faulty product and thus suggests ordering a replacement from the warehouse. The recently passed EU AI Act introduces legislation that emphasises risk-based approaches to the use of AI, including GenAI. While the act does not completely prohibit any specific technology, it imposes restrictions on certain algorithmic applications, particularly those involving subliminal manipulation and social scoring. For the Financial Services industry, for example, timeliness is imperative to avoid sanctions and fines in certain regions, but to also keep customers happy and satisfied.
ChatGPT and LLM-based chatbots set to improve customer experience
By analyzing the metrics behind these interactions, such as where incoming calls and chats are directed, you can help agents be more productive in the future. For example, of 10,000 chats in a given period, you might discover that 6,000 went to customer support, 2,000 were directed to your customer FAQ page, and so on — information that can help you more effectively optimize your contact center operations. We serve over 5 million of the world’s top customer experience practitioners. Join us today — unlock member benefits and accelerate your career, all for free. In today’s competitive landscape, listening to your customers and integrating their feedback isn’t optional, it’s a must that can demonstrate measurable improvements and ROI.
- Our dedicated editorial and research teams focus on bringing you the data and information you need to navigate today’s complex customer, organizational and technical landscapes.
- Maxie says that the primary issue with voice of the customer data is that in many organizations it’s not actually driving action.
- NICE inContact is a call center and customer experience (CX) platform vendor with more than a decade in the business.
- Once you’ve answered those questions, you’re ready to begin the journey toward a blended AI-enabled customer experience platform.
Making the Most of Voice-Tech Opportunity
“The legislation highlights the need for caution when implementing generative AI systems to ensure they adhere to ethical standards and do not harm individuals or exploit vulnerabilities,” she says. “In today’s economy, personal touches will be a differentiator in helping businesses compete beyond pricing,” says Morris. According to Insight Enterprises, 81% of companies have already established or implemented policies or strategies around GenAI, or are currently in the process of doing so. IndiGo also used automation for customer campaigns that share airline information and promote discounts via push notifications.
- But, in the end, it will be the companies that implement voice most effectively, as with the five methodologies listed above, that will win the day — and the customer.
- Voice-powered technologies foster a customer interaction environment where micro-moments are more likely to occur, while simultaneously making it easier for brands to capitalize on those moments.
- The siloed data hampered campaign design and execution, and data latency caused marketing leaders to miss personalization opportunities.
- “We will see much experimentation in 2023 and new products emerging to add business value to ChatGPT.
How generative AI fuels customer experience programmes
“When I arrived in the U.S. 25 years ago, for the first time I went to a grocery store and I looked at the aisle that had ice cream, I was like, How do I choose? I think that’s exactly what AI is right now,” Singh said. “How do you choose all these tools that are out there, all these models, all these vendors out there trying to sell you something? You will end up trying a few and discarding some.” Elsass said that while back-end AI can drive efficiency, customer-facing applications need to feel human to help build trust.
This type of technology helps enterprises assess the nature of a transaction and determine which authentication levels are needed to successfully authorize the purchase. IBM defines edge computing as a distributed computing framework that physically locates applications closer to data sources such as Internet of Things (IoT) devices or local edge servers. A 2022 Gartner Report predicted by 2025, more than 50% of enterprise-managed data will be created and processed outside the data center or cloud using edge computing. Hyro, for instance, offers an adaptive AI-driven chatbot being used in healthcare, real estate and government industries. Hyro automatically scrapes a variety of data sources including websites, databases, application programming interfaces (APIs) and more, and when content is updated, the conversation is also updated.
A positive chatbot experience is critically important to a customer’s ongoing relationship with—and perception of—a brand. When chatbots provide excellent experiences, customers benefit from faster response times, 24/7 support and the ability to solve problems on their own. Companies deploy chatbots to improve customer support, but when they fail to deliver a positive experience, the bots end up doing more harm than good.