Improve Customer Satisfaction And Employee Performance with Watson Discovery
Artificial intelligence makes our lives easier in countless ways from making fantasy football picks to getting personalized weather alerts or even applying for marriage licenses. It’s easy to appreciate AI when receiving personalized weather, news and traffic alerts, but did you know that AI can improve customer satisfaction and employee performance?
Customer interaction has shifted from face-to-face to online. In the competitive landscape today, it is critical to have a top-notch customer care department that has easy access to information needed to quickly and consistently answers customer questions.
Access to Information Is Key to Customer And Employee Performance
Customer service departments are bombarded with questions throughout the day. Many of the questions asked can easily be handled by a virtual customer assistant using AI.
More complicated questions and requests fielded by the customer care team frequently require research and follow-up. In these cases, customer care team members often struggle to quickly and easily find the information needed to resolve the question or request. In the absence of resources, customer care team members find themselves having to ask coworkers, manually search knowledge bases, or even reach out to other areas of the business for answers.
Slash Research Time and Resolve Customer Issues Quickly with AI
AI can certainly help with these more complex customer care issues just as it does with routine requests. Watson Discovery is an AI powered intelligent search and text analytics platform that eliminates data silos and retrieves information buried inside enterprise data. It uses innovative, market leading natural language processing to uncover meaningful business insights from documents, webpages, and big data, cutting research time by more than a whopping 75%.
Cutting research time by 75% increases productivity and response times. And addressing one of customer care team’s biggest challenges helps improve employee performance. According to McKinsey, “Companies that make a concerted effort to improve their customer experience see employee performance scores go up by an average of 20%.”
Watson Discovery pinpoints answers by combing through content in your connected data sources and serving up the most relevant passage and the source documents or webpages.
Ease of Implementation and Return on Investment Fuel AI Adoption
Industry leaders are using AI in customer care to widen the gaps between them and their competition. In 2018, Gartner predicted that by 2021, 15% of all customer service interactions will be completely handled by AI. The same year, McKinsey forecasted, “By 2030, 70% of companies will have adopted some form of AI, and the majority of enterprises will be using a full range of AI technology.” In fact, 70% of global banking institutions already use Watson according to IBM.
Using AI for customer care increases customer satisfaction and net promoter scores while simultaneously increasing employee productivity and performance. Forrester found that IBM Watson Discovery customers can accrue $6.13M in benefits and achieve an ROI of 383% over three years. It takes only13 months to recover the cost of adoption and implementation. According to the Forrester study:
Depending on the complexity of the use case, the interviewed organizations trialed their selected NLP solutions over the course of a few weeks, and then developers and SMEs spent several months to a year building and training the first release of the NLP application.
AI helps leaders and organizations make informed decisions based on data that AI provides. From contact center insights to financial forecasts, AI has many real world applications for businesses of all sizes and industries.
To learn how AI can help your organization improve customer satisfaction and employee performance, contact us today.