Artificial Intelligence Improves Customer Experience

A recent article by Blake Morgan, uncovers the ROI of Artificial Intelligence. People have come to expect personalization from their customer experience, which is where Artificial Intelligence (AI) comes in. AI is an investment that is paying off when customers shop more often, spend more money, and share their experience more freely. These stats are leading to a widespread adoption of various AI technologies. Not only to aid in customer interactions, but also back-end business systems that enable more efficient inventory management and delivery. AI and Big Data are unavoidable necessities companies are embracing in order to remain competitive.

Chatbots

Retail has seen a huge impact when consumers have access to Chatbots. Most major retailers are already using chatbots powered by Artificial Intelligence and experiencing increased sales. Shoppers are spending more money when chatbots are available to provide information that leads to a purchase. Chatbots ultimately cut business costs by reducing staffing needs. Chatbots are available 24/7 to assist with purchases when live agents are unavailable. Consumers are increasingly accepting of chatbots and many retailers are seeing proof through increases in sales up to 300%.

IoT

Another area we are seeing gargantuan growth is IoT. More and more smart devices are flooding the market and consumers cannot get enough. The world of IoT relies on big data to allow devices to interact. People are using their smart phone to control their thermostat, home security system, and now even appliances! IoT adoption is spreading into how products are made, transported, and even powered. Companies are investing heavily in big data management to improve customer experience and organizational efficiency.

Augmented and Virtual Reality

Just as IoT connects your devices virtually, Augmented and Virtual Reality can connect and personalize the customer experience. Imagine a consumer being able to interact with a product or overlay a product in their environment before purchasing. Allowing an enveloping virtual experience with a product would reduce the strain on customer service both pre-purchase and post-purchase. The consumer is able to make a more informed decision with less human interaction before purchasing, therefore reducing returns.

This blog post is based on an article from Blake Morgan. To read the original article click here.

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