AI has had a profound impact on customer service, addressing issues such as lack of skilled labor, fast decision-making, and mass personalization. The use of generative AI in customer service has become a game changer. However, the implementation of AI requires domain expertise and access to proprietary data, making it difficult for competitors to replicate. Despite the growing adoption of AI by companies, the offering of AI in customer service remains specialized and tailored to each organization's specific needs.
The video discusses the use of AI in customer service and how the industry can benefit from it. The guest, a representative from a company catering to thousands of organizations, explains that AI brings a game-changing impact by addressing the lack of skilled labor, decision-making speed, and mass personalization. The guest also highlights the importance of treating AI as an employee, training it with a lot of information and ensuring a secured environment. The video concludes by mentioning the increasing mentions of AI in the company's earnings calls, indicating its significant role in driving the business.
YOU HAVE 25,000 ORGANIZATIONS. THIS IS ABOUT CUSTOMER
EXPERIENCE AND USE OF AI. HOW HAVE YOU BEEN FOLDING
GENERATIVE AI INTO THAT OFFERING? GUEST:
WE CATER TO THOUSANDS OF ORGANIZATIONS AROUND THE WORLD
THAT ARE SERVING CONSUMERS AND WE OPERATE IN THE SPACE OF
CUSTOMER SERVICE. WE OFFER THE PLATFORM
ORGANIZATION WHEN IT COMES TO PROVIDING SERVICE TO CUSTOMERS.
WHAT AI BRINGS TO THE CUSTOMER SERVICE DOMAIN IS A GAME
CHANGER. THIS INDUSTRY HAS BEEN
STRUGGLING WITH THREE IMPORTANT THINGS.
FIRST IS THE LACK OF SKILLED LABOR.
THE ABILITY TO MAKE DECISIONS AT A FAST VELOCITY AND MASS
PERSONALIZATION AT SCALE. THAT IS EXACTLY WHAT AI CAN DO
TO THE INDUSTRY, BUT THERE IS NOTHING GENERIC ABOUT WHAT AN
ORGANIZATION NEEDS WHEN IT COMES TO AI.
THIS IS WHERE OUR COMPANY COMES INTO THE PICTURE. CAROLINE:
YOU ARE SEEING GROWTH POSTING 25% IN THE CLOUD REVENUE PART
OF THE GROWTH, BUT ARE YOU WORRIED ABOUT COMPETITORS?
IF EVERYONE STARTS BEING AN AI SPECIALIST. THIS WEEK ALONE, WE
HAVE HAD IBM , SLACK TALKING ABOUT GPT WITHIN PARTS OF THEIR
BUSINESS. EVERYONE IS OFFERING THIS TO
THEIR CUSTOMERS. GUEST: WE REPORTED EARNINGS YESTERDAY
AND WE HAD OUTSTANDING EARNINGS OF 25% GROWTH IN THE CLOUD
RIVEN BY CLOUD AND AI.
WHEN IT COMES TO AI, ALMOST ALL OF US EXPERIENCE THE BEAUTY OF
GENERATIVE AI. ON IT COMES TO EMPLOYING IT AND
CUSTOMER SERVICE FOR ORGANIZATIONS, THERE'S NOTHING
GENERIC ABOUT IT. OUR CUSTOMERS ARE DIVIDED INTO
TWO CAMPS. ONE WHO SAYS I WILL NEVER
DEPLOY IT AND OTHERS SEE THE VALUE BUT THEY ARE CONCERNED
ABOUT TAKING SOMETHING THAT GENERIC AND IT DOESN'T WORK.
YOU NEED TO TREAT THE AI AS ONE OF YOUR EMPLOYEES.
AS A BRAND, YOU WANTED TO SERVE YOUR BRAND, YOUR REPUTATION AND
MEET YOUR BUSINESS GOALS SO IT NEEDS TO BE TRAINED WITH A LOT
OF INFORMATION. TENS OF BILLIONS OF PAST
INTERACTIONS CUSTOMERS. IT'S INFORMATION THAT YOU DON'T
WANT TO PROVIDE TO GENERATIVE AI. THAT'S WHY THEY COME TO OUR
PLATFORM. WE HAVE THE DATA THAT IS ALMOST
IMPOSSIBLE TO REPLICATE GIVEN OUR HISTORY AND THE BIRTH OF
OUR OFFERING. IT'S ALSO ABOUT HAVING A
SECURED ENVIRONMENT. YOU NEED TO HAVE THE DOMAIN
EXPERTISE. IT RAISES THE BARRIER TO ENTRY
WHEN IT COMES TO TECHNOLOGY IN THE PLACE OF CUSTOMER SERVICE.
CAROLINE: THAT BRINGS ME TO A CONVERSATION WE HAD WITH CATHIE
WOOD TALKING ABOUT IT BEING PROPRIETARY DATA.
THAT ISN'T TO SAY THAT EVERYONE IS COINING A TERM OR USING AND
REFERENCING AI NO MATTER WHAT PART OF THE INDUSTRY OR WHAT
KIND OF COMPANY YOU ARE. ED: YOU MAKE AN INTERESTING POINT
ON PROPRIETARY DATA AND REFERENCING THE TERM.
I WENT THROUGH EVERY ONE OF YOUR EARNINGS TRANSCRIPTS FOR
THE LAST YEAR. 74 MENTIONS OF AI IN THE
EARNINGS CALL WHEN FOUR HOURS AGO.
IN THE SAME QUARTER ONE YEAR AGO, 16 MENTIONS OF AI.
IN THE QUARTER PREVIOUS, 58. HOW MUCH PRESSURE ARE YOU UNDER
TO TALK A BIG GAME AROUND AI? GUEST:
I DON'T THINK IT'S A MATTER OF PRESSURE.
WE STATE AND OUR BUSINESS, THESE ARE THE TYPES OF
DISCUSSIONS WE HAVE WITH OUR CUSTOMERS TODAY.
OUR BUSINESS UP UNTIL SEVERAL YEARS AGO WAS CONCENTRATED MORE
ON -- SUDDENLY WITH AI WE COVERED THE ENTIRE JOURNEY OF
THE CUSTOMER. WE SPENT THE LAST SEVERAL YEARS
DEPLOYING AI CAPABILITIES IN OUR PLATFORM AND TODAY IT IS
ONE OF THE TWO THINGS THAT ARE DRIVING OUR BUSINESS.
THE SHIFT TO THE CLOUD AND EARLIER THAN THAT, THE AI.
WE SEE IT AS THE GREATEST OPPORTUNITY SINCE I REMEMBER
AND I BEEN WITH THE COMPANY FOR 25 YEARS. ED:
YOU DID BEAT ON TOP AND BOTTOM LINE.
WHAT DOES YOUR CUSTOMER BASE LOOK LIKE?
IS THERE CONFIDENCE TO SPEND RIGHT NOW? GUEST:
WE HAD TO BE ON TOPLINE AND BOTTOM-LINE AS YOU MENTIONED
AND WE RAISED THE GUIDANCE FOR THE REST OF THE YEAR.
WE OPERATE IN A SPACE THAT EVEN IN THIS ECONOMY, ENTERPRISES
UNDERSTAND THEY NEED TO DIFFERENTIATE AND PROTECT THEIR
BRAND, ELEVATE THEIR BRAND AND PROVIDE AN OUTSTANDING
EXPERIENCE TO THEIR CUSTOMERS. WE ARE THE MISSION-CRITICAL
SOLUTION FOR THEM AND THEY
In today's rapidly evolving business landscape, customer service has become a crucial aspect of organizations' success. With the rise of AI technology, organizations are now able to enhance their customer support capabilities, leading to improved customer experiences and increased customer satisfaction.
One of the key benefits of AI in customer service is its ability to tackle three major challenges faced by the industry. These challenges include the shortage of skilled labor, the need for fast decision-making, and the demand for personalized experiences at scale. AI provides a game-changing solution to these challenges by automating tasks, analyzing data at a rapid pace, and personalizing interactions with customers.
However, it should be noted that the implementation of AI in customer service is not a generic solution. Each organization has unique requirements and needs when it comes to AI. That's where our company comes in. We offer a platform that caters to thousands of organizations worldwide, providing them with tailored AI solutions for their customer service operations.
One concern that organizations may have is the increasing competition in the AI market. Many companies, including IBM and Slack, are now offering AI services to their customers. However, our outstanding earnings growth of 25% in the cloud and AI revenue demonstrates our ability to stand out in the market. We understand that organizations need to treat AI as one of their employees, ensuring it aligns with their brand, reputation, and business goals.
To achieve this, AI needs to be trained with vast amounts of information, including tens of billions of past customer interactions. Our platform offers access to a secure environment and domain expertise, which raises the barrier to entry in the customer service technology space. Additionally, we have unique proprietary data that sets us apart from competitors, making our offering even more valuable to organizations.
As AI continues to play a significant role in customer service, it's essential for organizations to differentiate themselves and provide exceptional experiences to their customers. In this challenging economic climate, enterprises understand the importance of investing in solutions that elevate their brand and deliver outstanding customer experiences. Our mission-critical solutions provide organizations with the confidence to spend and differentiate themselves in the market.
In summary, AI has revolutionized the customer service industry, addressing critical challenges and providing personalized experiences at scale. As a marketing specialist, it's essential to keep up with the latest trends and advancements in AI to help organizations optimize their customer support operations and deliver exceptional customer experiences.
Generative AI has various applications across industries. In marketing, it is used for ad copy generation and activity summarization. It can also be applied in sales for generating sales materials and in customer service for assisting service representatives. Additionally, generative AI can aid in anomaly detection and conversational reporting in finance, and in creating a better digital experience for workers in supply chain. These are just a few examples highlighting the potential of generative AI across industries.
AI is revolutionizing customer service with automated chatbots, personalized recommendations, and targeted marketing efforts. It improves efficiency and reduces costs for businesses while providing a convenient and personalized experience for customers.
AI tools like ChatGPT can assist with various marketing tasks such as keyword research, content writing, social media posts, and more. However, relying solely on AI can limit creativity and personalization in marketing efforts. AI should be used as a tool, not a replacement for human expertise and input. It is important to use AI cautiously and understand its limitations to avoid publishing subpar content.
We appreciate your recent sign up for a LiveAgent.
A message will be sent to your email address containing login details, right after your account is installed.
We’re available on multiple dates