The hype swirling around artificial intelligence in customer service is very real, and yet, if we’re being perfectly honest, it’s also a major part of the problem.
Ask any executive of a large enterprise (because who doesn’t have the CEO of Bank of America on speed dial, right?) that has recently issued an RFP for a conversational AI solution about their biggest gripe in the process and they’ll all likely tell you the same thing - just how crowded the market truly is.
Trying to discern between the countless vendors out there - all claiming to have the BEST technology - is not only a hassle but could end up leading to a hugely expensive waste of time. It’s not for nothing that Gartner placed chatbots smack dab at the top of the ‘Peak of Inflated Expectations’ on their AI hypebeast chart. No matter how ridiculously titled it may be, they have a point.
With so many vendors out there muddying the waters, it can be easy to lose sight of the tangible benefits that a good conversational AI-powered virtual agent can actually bring to your business.
Gartner, ever bullish in their outlook, conducted a survey of key IT leaders across various industries that found that organizations are increasingly investing in the development and deployment of conversational AI. Of the CIO’s surveyed, they overwhelmingly identified virtual agents as the main AI-based application used in their enterprises.
Couple that with the fact that the conversational AI market is expected to exceed $15.7 billion annually by 2024, and one thing is abundantly clear: there’s no sign of this train slowing down anytime soon.
All the more reason, then, to familiarize yourself with the core benefits of AI for customer service. That way, when your business is ready to take the plunge (and all signs point towards you being late to the party if you’re not already implementing something) you are armed with the knowledge to make the right decision about which conversational AI vendor will deliver the biggest bang per buck.