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Tips to Optimize AI Investments in CX Strategies
By Matt Whitmer, chief revenue officer and senior vice president of marketing at Mosaicx 

In today's swiftly changing digital environment, businesses are motivated to harness the capabilities of AI within their customer experience (CX) strategies. The ongoing impact of AI disruption observed throughout 2023 offers valuable lessons for businesses seeking to enhance their CX strategies in 2024 and beyond.

These dynamic AI and CX landscapes demand a proactive approach, and organizations are actively determining how to adopt emerging AI technologies into their customer interactions. Businesses that take a proactive and strategic approach to AI in CX will help ensure interactions resonate with evolving expectations and position themselves for success.

2023 Review: AI in CX

While AI touched nearly all industries in 2023, CX and customer service saw transformation with impressive results. Researchers at Stanford University and Massachusetts Institute of Technology show favorable effects of the rollout of AI in customer service. In a report, they analyzed the results of an AI-based assistant tool for 5,200 customer support agents. Not only did the tool raise agent productivity by 14% on average, but the AI-assisted interactions had higher average NPS (net promoter score), and monthly agent attrition dropped by 9%.

Amidst the promising return across the customer service industry, many businesses plan to increase AI investment.

However, despite AI's excitement and true value, it is still in its early stages. Many AI deployments have been part of a broader experiment to understand how to leverage emerging tech for CX rapidly. Some decision-makers might even feel inclined to take a "wait-and-see" approach to AI in CX. However, putting AI on the back burner could prove detrimental to a business maintaining a competitive edge.

Below are a few tips for companies to implement AI strategically and practically in CX in 2024.

Tips for Successful AI Implementation in 2024 CX Strategies

1.      Foster a Deep Understanding of Customer Needs

One way to secure the best returns on AI investment in CX and customer service applications is to use AI in the early process to uncover customer preferences. AI tools can help businesses cultivate a deep and nuanced understanding of their customer base using data analytics. This understanding goes beyond demographic data and basic preferences; it involves delving into the intricacies of customer behaviors and motivations gathered during interactions.

When fueled by accurate and comprehensive customer insights, AI can tailor products, services, and communication strategies to cater to customers' unique requirements. AI tools can also predict future preferences based on historical data, enabling businesses to stay ahead of trends and provide products or services that align with evolving customer expectations. Staying on the cutting edge positions a business as forward-thinking and establishes a deeper connection with customers by demonstrating a keen understanding of their evolving preferences.

2.      Use AI to Enhance, Not Replace Existing Processes

Once organizations understand what their customers need, they can identify points in the customer journey that are ripe for automation or enhancement through AI. These touchpoints may include routine inquiries, order processing, onboarding, or support interactions. Organizations can deploy AI solutions that enhance existing customer journeys and boost customer satisfaction.

AI tools like intelligent virtual agents (IVAs) excel at handling routine inquiries, allowing businesses to automate responses to frequently asked questions. Automating responses reduces the workload on human agents and ensures that customers receive prompt and consistent information. For example, an IVA integrated into a website or mobile app can provide instant assistance on product details, pricing, or basic troubleshooting. IVAs also enable scalability. As customer demand fluctuates, these tools can handle increased volumes without a proportional increase in staffing. This scalability is particularly advantageous during peak times, product launches, or marketing campaigns.

3.      Strike a Balance Between AI and a Human Touch

Striking a balance between AI and a human touch (or emotional intelligence) is critical for businesses aiming to leverage technology while maintaining a personal feel in customer interactions. One best practice is to reserve human agent intervention for situations that require emotional intelligence and understanding. Humanizing AI interactions also involves designing AI responses to be conversational, empathetic, and aligned with the brand's tone and values. Integrating elements of personality into AI-driven interactions can create a more relatable and engaging customer experience.

It's also essential to transition smoothly from the AI tool to the human agent that prioritizes continuity. The customer shouldn't have to repeat the information initially shared with the AI agent. With AI assistance, agents can spend less time looking up account details or order information, enabling them to have more impactful engagements.

AI's Focus in 2024: CX

These tips serve as a roadmap for businesses seeking to capitalize on the potential of AI. Following this roadmap will help companies stay ahead of industry trends and cultivate lasting connections with their customers. In 2024, more companies will embrace a human-centric approach with AI in CX. This strategy will help businesses stay aligned with customer expectations and see the best return on new and existing tech investments.



Matt Whitmer 

Matt Whitmer is the chief revenue officer and senior vice president of sales and marketing at Mosaicx, the leading conversational AI provider. He has over 15 years of senior leadership experience focused on helping enterprise clients embrace and implement cloud-based engagement solutions.

Published Monday, December 18, 2023 7:35 AM by David Marshall
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