The conversational AI market is growing at a rapid pace. The global conversational AI market is currently worth $6.8 billion (2021) and it's expected to grow to $18.4 billion by 2026.
Overall, conversational AI is a phenomenal addition to the customer service department, which completely changed the rules of the game. Here we can find a wide range of benefits.
Let's review them:
With automated support, agents can accept simple requests to respond faster to issues and reduce overall response time. It also improved employee productivity by:
using virtual assistants, which allow human agents to take part in multiple message chats at the same time and immediately respond to new tasks.
Customer service has high operating costs because it has a big impact on companies. Conversational AI can handle a higher volume of requests than humans, quickly offer more relevant and accurate information, and increase accuracy and intensity. Ultimately, this reduces the overall cost of maintaining the customer service department.
Improved employee experience
Conversational AI allows human reps to focus on more complex issues and improve customer relationships by completing simple tasks using their skills. It helps employees streamline their schedules and tasks with minimal effort.
Conversational AI helps collect fresh data that can understand your customers and track employee engagement in full. Being aware of what customers need and communicating effectively will significantly increase customer retention rates.
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