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20 Apr 2024, Edition - 3203, Saturday

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Banking, Financial Services Top Enterprises Looking for AI, Analytics to Have Bottom Line Impact in 2020 and Beyond

by businesswireindia.com

Business Wire India

Uniphore, the global Conversational AI technology company, and Opus Research, a diversified advisory and analysis firm, today announced findings from a just-released “state-of-speech analytics” report, which sheds light on key topics that will greatly impact Enterprise Customer Experience (CX) in 2020 and beyond. 
For the past four years, in a tracking survey, Opus Research has surveyed enterprise decision makers about their experience and expectations for Speech Analytics and related technologies. The results depict a fast-growing percentage of companies in a variety of vertical industries pursuing a course from point-solutions employing Speech Analytics to more comprehensive, transformational business applications.
A few key findings from the report include:
  • Enterprises show growing interest in real-time Speech Analytics and customer journey orchestration through automation. Enterprise CX leaders are looking to intelligent assistance, adding elements of AI, NLU and Machine Learning to bolster employee productivity and enable operational efficiencies.
  • Broad belief in the business impact of Speech Analytics technologies, which enable a path to business transformation and address immediate customer issues. Enterprises have moved from early adopters of Speech Analytics to early majority in terms of expectations and implementations.
  • With all customer service channels being conversational, CX organizations deploying Speech Analytics and automation capabilities will benefit from an emerging solution category called Conversational Service Automation (CSA), which could have enterprise-wide impact.
A few key findings for the Indian market include:
  • Respondents were strongly in support of quick identification of customer intent to support remediation and the productivity of workforce optimization. Also seen was a higher than the median interest in support of virtual agents & intelligent assistants to further customer service automation goals, by helping agents automate after-call disposition.
  • India showcases a strong interest in new technologies and believes that Artificial Intelligence and Analytics can relieve the workforce from doing repetitive, uncreative tasks with a significant 82% of respondents agreeing with the statement.
  • India is also above the global average mean for displaying the desire to employ innovative technologies in their companies with 73% being pro agent assistance and automation. 60% of the India participants formally considered omni-channel virtual assistants and chatbots. Real time orchestration for customer service and Robotic Process Automation integration came in at 60% each Conversation Analytics was considered by 52% of the Indian study group.
“The voice of the customer is often lost or misunderstood, while enterprises feel the pain of running big, expensive customer service organizations,” said Umesh Sachdev, CEO and co-founder of Uniphore. “This survey confirms what we’ve been hearing from multinational organizations. They need AI and Automation solutions to deliver efficiencies while also ensuring they understand their customer’s voice. And that’s what we do. We deliver the cost-saving, revenue-generating technology that gives every customer a voice. And that will change the entire CX industry.”
“Respondents have indicated a focus on the business benefits of Speech Analytics and adjacent technologies, with conversations emerging as the ideal model for customer engagement,” said Dan Miller, lead analyst and founder of Opus Research. “Innovative enterprises are looking beyond the basics to a new category of solutions called Conversational Service Automation (CSA). Think of CSA as RPA on customer support steroids, with implications and potential impact felt across HR, resource management, supply chain, marketing, sales and operations. It is a unified approach to transforming the way business gets done efficiently and profitably.”
As part of the study commissioned by Uniphore, Opus Research conducted a survey of 400 decision makers (Director, VP, C-level) in contact center operations, customer experience and contact center management of firms with revenues of more than (U.S.) $50 million. Issues under investigation closely parallel surveys conducted from 2016 to 2018, giving Opus Research the opportunity to observe year-to-year changes and draw conclusions about the implications for companies as they contemplate the potential of Speech Analytics solutions to support their customer care and general business objectives.
In addition, the 2019 global survey features illuminating findings for contact center efficiencies, bottom-line business impacts, Conversational AI and Analytics and omnichannel customer care. The 2019 global survey includes selected countries in North America (U.S. and Canada), Southeast Asia (Indonesia, India, Japan, Malaysia, Singapore, Philippines and Vietnam) and the United Kingdom. Opus Research also sought respondents representing a mix of vertical industries. Source: Businesswire