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How AI can reduce customer service costs by up to 30% (Sports Grind Entertainment Live)

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How AI can reduce customer service costs by up to 30% (VB Live)

Presented by DefinedCrowd


Customer experience is key to a customer retention rate that leads to more deals and revenue. Learn how companies like MasterCard are implementing AI strategies that are transforming how customer experience is done when you join this Sports Grind Entertainment Live event.

Register here for free.


Every year, businesses spend over $1 trillion on customer service calls. But AI and natural language processing solutions are changing the game, says Dr. Daniela Braga, CEO of DefinedCrowd. AI-powered virtual agents and chatbots not only help businesses slash the call center costs, but dramatically improve customer relationships as well.

That’s why investment in contact center AI is growing, Braga explains.

According to a Deloitte study on the future of customer service, 56% of companies are investing in conversational AI technology to improve cross-channel experiences.  Increasingly, customers aren’t interested in spending time on the phone. When they need support, they turn to their computers or mobile devices, preferring to look for support through self-service databases or through messaging customer service agents.

“AI does require some investment, but these conversational solutions can reduce customer service costs by up to 30%” Braga says. “Clients can see a return on their investment in three years.”

By 2022, chatbots and NLP will save companies about $8 billion per year in customer supporting costs. For every second chatbots can shave off average call center handling times, call centers can save as much as $1 million in annual customer service costs.

Significantly reducing wait time

One of the biggest challenges of customer service centers is the volume of calls they receive — and the difficulty has been magnified in the face of staff reductions during the pandemic. Customers often wait in long queues to have even basic requests answered, or might never get an answer at all, Braga explains.

A huge number of these customer support calls are for routine requests, from password resets to questions about interest rates, that can be resolved quickly. When virtual assistants take on these calls, more complicated requests and questions can be shuttled to the human agents whose time and attention has been freed up.

“Digital assistants can resolve 80% of frequently asked questions, even before you get to a human, without having to wait until the bank opens,” she says. “Virtual assistants give people an answer on the spot, which is already a huge improvement in the customer experience.”

Augmenting human agents

Virtual assistants aren’t taking over, however, Braga says.

If a question too complex to be answered by the AI, it can send the customer to the right place quickly, and offer the customer service agent the information they need to help the customer efficiently. Instead of starting all over at zero again, having to re-explain a problem, the virtual assistant can pass along the data it has gathered, speeding up the interaction with the customer and making the experience faster and more pleasant overall.

“I see it more as an augmentation of humans rather than a replacement,” Braga explains.

When human agents have the time to provide better service, and are handling more interesting questions, it also helps make the job experience far more engaging — a tremendous advantage for an industry in which attrition numbers are so high, in part because of the extremely repetitive nature of the routine calls that can make up the bulk of a shift.

Obviously, unlike live agents, virtual assistants don’t need mandatory breaks, or take vacations or holidays, so augmenting live agents with virtual ones helps eliminate downtime for your customer service operation. But virtual agents can also be used as a business continuity strategy, stepping in when live agent hours are impacted by natural disasters — or helping businesses operate even during ongoing global issues, like the pandemic, where protecting the lives of employees is the primary importance.

To learn more about how your company can leverage AI, NLP, and voice technologies to dramatically improve customer service, boost efficiency, and improve your bottom line, don’t miss this Sports Grind Entertainment Live event.


Don’t miss out!

Register here for free.


Attendees will:

  • Understand the different types of AI initiatives a company can launch to improve CX based on NLP and Voice technologies
  • Know how to develop those AI initiatives and the role of data on training AI/ML models
  • Get to know a case study from a major FI company (Mastercard)

Speakers:

  • Dr. Steve Flinter, VP of Artificial Intelligence & Machine Learning, Mastercard Lab
  • Dr. Daniela Braga, CEO, DefinedCrowd
  • Hari Sivaraman, Head of AI Content Strategy, VentureBeat (moderator)

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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California braces for power shutoffs and warm, windy weekend

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California braces for power shutoffs and warm, windy weekend

SAN FRANCISCO (AP) — Firefighters and officials at California’s largest utility company braced for hot, dry and windy weather in northern and central areas of the state this weekend that may fan the flames of several major wildfires or ignite new ones.

Pacific Gas & Electric warned Friday it may cut power from Sunday morning to Monday, potentially affecting 97,000 customers in 16 counties, during which forecasters said a ridge of high pressure will raise temperatures and generate gusts flowing from the interior to the coast.

PG&E initially warned that approximately 21,000 customers in three counties would lose power beginning Saturday evening but expanded the potential shutoff when the forecast changed.

The utility is tracking the weather to determine if it would be necessary to shut off power to areas where gusts could damage the company’s equipment or hurl debris into lines that can ignite flammable vegetation.

When heavy winds were predicted earlier this month, PG&E cut power to about 167,000 homes and businesses in central and Northern California in a more targeted approach after being criticized last year for acting too broadly when it blacked out 2 million customers to prevent fires.

PG&E equipment has sparked past large wildfires, including the 2018 fire that destroyed much of the Sierra foothills town of Paradise and killed 85 people.

Firefighters battling the state’s largest wildfire braced for the change in weather by constructing fuel breaks on Friday to keep the flames from reaching a marijuana-growing enclave where authorities said many of the locals have refused to evacuate and abandon their maturing crops.

The wildfire called the August Complex is nearing the small communities of Post Mountain and Trinity Pines, about 200 miles (322 kilometers) northwest of Sacramento, the Los Angeles Times reported.

Law enforcement officers went door to door warning of the encroaching fire danger but could not force residents to evacuate, Trinity County Sheriff’s Department Deputy Nate Trujillo said.

“It’s mainly growers,” Trujillo said. “And a lot of them, they don’t want to leave because that is their livelihood.”

As many as 1,000 people remained in Post Mountain and Trinity Pines, authorities and local residents estimated Thursday.

Numerous studies in recent years have linked bigger U.S. wildfires to global warming from the burning of coal, oil and gas, especially because climate change has made California much drier. A drier California means plants are more flammable.

The U.S. Forest Service’s Pacific Southwest Region announced Friday that it is extending the closure of all nine national forests in California due to concerns including fire conditions and critical limitations on firefighting resources.

The threatened marijuana growing area is in the Emerald Triangle, a three-county corner of Northern California that by some estimates is the nation’s largest cannabis-producing region.

People familiar with Trinity Pines said the community has up to 40 legal farms, with more than 10 times that number in hidden, illegal growing areas.

Growers are wary of leaving the plants vulnerable to flames or thieves. Each farm has crops worth half a million dollars or more and many are within days or weeks of harvest.

One estimate put the value of the area’s legal marijuana crop at about $20 million.

“There (are) millions of dollars, millions and millions of dollars of marijuana out there,” Trujillo said. “Some of those plants are 16 feet (5 meters) tall, and they are all in the budding stages of growth right now.”

Gunfire in the region is common. A recent night brought what locals dubbed the “roll call” of cannabis cultivators shooting rounds from pistols and automatic weapons as warnings to outsiders, said Post Mountain volunteer Fire Chief Astrid Dobo, who also manages legal cannabis farms.

Hundreds of migrant workers typically pour into the area this time of year to help trim and harvest the plants, but it’s uncertain whether that population dwindled due to the coronavirus pandemic, said Julia Rubinic, a member of the Trinity County Agriculture Alliance, which represents licensed cannabis growers.

Mike McMillan, spokesman for the federal incident command team managing the northern section of the August Complex, said fire officials plan to deliver a clear message that ”we are not going to die to save people. That is not our job.”

“We are going to knock door to door and tell them once again,” McMillan said. “However, if they choose to stay and if the fire situation becomes, as we say, very dynamic and very dangerous … we are not going to risk our lives.”

A firefighter was killed and another was injured on Aug. 31 while working on the fire. Diana Jones, a volunteer firefighter from Texas, was among 26 people who have died since more than two dozen major wildfires broke out across the state last month.

A memorial service was held Friday for a veteran firefighter, Charles Morton, 39, a squad boss with the Big Bear Interagency Hotshot Crew who died Sept. 17 while battling the El Dorado Fire in the San Bernardino National Forest east of Los Angeles.

“I know that Charlie was a very skilled, in fact extraordinary, firefighter and a fire leader,” U.S. Forest Service Chief Vicki Christiansen told the gathering at The Rock Church in San Bernardino.

“He committed himself, often for weeks and months on end, to protecting lives, communities and natural resources all around this country in service to fellow Americans.”

The Butte County Sheriff’s Office on Friday released the identity of another of the 15 people killed in a rampaging forest fire earlier this month. The remains of Linda Longenbach, 71, of Berry Creek, were found on Sept. 10 in a roadway about 10 feet from an ATV, close to the body of a man previously identified as Paul Winer, 68.

A relative told investigators the victims were aware of the fire and chose not to evacuate.

____

Associated Press writer John Antczak in Los Angeles contributed to this report.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Rep. Doug Collins has a big idea to prevent Supreme Court packing

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Rep. Doug Collins has a big idea to prevent Supreme Court packing

House Judiciary Committee member joins 'The Story' to discuss his proposed constitutional amendment

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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House Republicans Call on Attorney General Barr to Investigate Recent Spike in Anti-Catholic Hate Crimes

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House Republicans Call on Attorney General Barr to Investigate Recent Spike in Anti-Catholic Hate Crimes

A group of House Republicans led by Representative Jim Banks (R., Ind.) on Friday called on attorney general William Barr to investigate a recent rise in anti-Catholic hate crimes.

There have been 70 instances of anti-Catholic violence in North America this year — with 57 crimes being reported since May alone — according to a letter sent to the attorney general by Banks and 15 other House Republicans.

By contrast, in all of 2018, the most recent year for which data is available, the FBI reported 53 incidents of anti-Catholic hate crimes in the U.S.

“Bigoted criminals are threatening Catholics and undermining America’s core ideal of religious liberty,” Banks said in a statement. “The DOJ’s Civil Rights Division exists to combat spikes in targeted violence. It needs to fulfill its duty, determine who is behind this pattern of attacks and bring them to justice.”

Beginning in early July, reports of “horrific and brutal attacks on Catholic and Church properties” spiked, the letter says, including in Boston where a statue of the Virgin Mary at Saint Peters Parish Church was set ablaze. 

One day earlier, the letter says, a man in Florida allegedly drove a van into a church with parishioners inside before spilling gasoline in the church’s foyer and attempting to set it on fire.

That same day, San Gabriel Mission in California was burned down. The letter calls the issue “ongoing,” citing an incident in September where a man was videotaped toppling an Our Lady of Guadalupe statue in Coney Island, N.Y.

As in any other instance of a rapid spike in hate crimes targeted at a specific group, the Justice Department’s Civil Rights Division has an obligation to investigate the perpetrators of this violence and any organizational or ideological connections between them,” the letter states.

“Crimes like these aren’t just targeted at individuals and their property; they are targeted at American society as a whole,” it continues. “They are motivated by a destructive impulse to harm property and persons, but also the equally warped desire to undermine America’s constitutionally guaranteed rights and social trust within our communities.”

The Republicans’ call to investigate concludes in saying the attacks threaten the physical safety of Catholics as well as the integrity of the American system, and saying the Department of Justice has an obligation to uphold both. 

The letter was co-signed by Representatives Andy Harris (R., Md.), Greg Steube (R., Fl.), Ted Yoho (R., Fl.), Jackie Walorski (R., Ind.), Doug Collins (R., Ga.), Jeff Duncan (R., S.C.), Rick Allen (R., Ga.), Pete Olson (R., Texas), Glenn Grothman (R., Wisc.), Chuck Fleischmann (R., Tenn.), Ron Wright (R., Texas), Paul Gosar (R., Ariz.), Mike Kelly (R., Pa.), Ken Buck (R., Colo.), and Dan Crenshaw (R., Texas).

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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