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Written by Enshored Team on September 6th
Behind the hype generated by Artificial Intelligence is a technology that has potential to disrupt and transform virtually any industry – including Business Process Outsourcing, and the sector’s customer brand experience offering in particular.
AI’s ability to analyze and process vast amounts of data from different sources, including data measuring the nuances of human behaviors and vocal tone, promises to revolutionize CX.
BPOs will soon be able to manage customer interactions, queries and feedback faster and more accurately than ever before, with both operational cost savings and improved quality of service.
But is the sector ready to take advantage of these new opportunities?
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1. Why AI is well suited to improving CX
A smooth CX has become a priority for consumers who have become accustomed to the speed and efficiency of an end-to-end digital experience in the wake of the Covid pandemic.
According to the Zendesk Customer Experience Trends Report 2022, 50% of customers say they will switch to a competitor after just one bad experience – and 75% are willing to spend more on brands that provide a good customer experience.
Meanwhile, almost half (48%) of the people surveyed by Redpoint Global say they would interact with AI more often if it made their customer experience more seamless, consistent, and convenient
2. What the future looks like for AI powered CX
AI will soon be able to understand customer intent, create bespoke content and deliver personalized brand experience.
It will gather vast amounts of data to provide rich business insights and give agents real-time AI support and access to much more customer information than at present.
3. The impact of AI on the BPO industry
With the BPO sector among the largest white-collar employers in some Asian countries, there are concerns that AI could put millions of jobs at risk.
AI will certainly allow BPOs to streamline and enhance processes, reducing the need for human intervention in CX – but leaving AI to deal with repetitive and often monotonous functions will also free up agents to carry out more data-driven, strategic roles.
The real source of value from AI, however, will be in the huge amount of data it produces.
Analyzing and interpreting this data quickly and efficiently will allow businesses to make smarter, data-driven decisions to unlock new value and drive sustained growth.
4. Investments BPOs are making in AI
The expansion of AI technologies into BPO services requires significant investment in infrastructure, upskilling and talent.
Accenture has committed $3Billion to invest in research and development and technology initiatives in AI centers around the world.
While the investment numbers are big, the pay-off may be even bigger.
5. AI use cases gaining momentum
AI is already playing a role in contact centers, but there is potential for it to go much further, including:
Conclusion
The BPO sector is going through a transformative renaissance and market reports anticipate significant growth over the next decade.
AI has the potential to supercharge this growth. High-performing companies that are already investing in and using AI capabilities are
achieving significant value and unlocking new growth opportunities.
As the race to increase AI capacity hots up, those companies that are not preparing for it now risk being left behind.
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