7 Ways Investing in Contact Center AI Can Benefit Your Organization

There’s been a lot of buzz around artificial intelligence (AI) in recent years. Many organizations are already investing in it or considering investing in it in the future. Naturally, they want to know what kind of financial returns they can expect and how they will achieve them.

The answers to these questions depend on the technology, industry, use case, and more. In a contact center context, there are a variety of AI-powered features that can support high returns on investment.

ComputerTalk’s ice Contact Center leverages AI to unlock greater efficiency and better customer experiences through a suite of powerful tools. Our AI-powered features include:

• Automated transcription, contact summarization, post-contact analysis, and speech analytics
• Voice bots and chatbots
• Agent Assist for real-time guidance
• Text-to-speech capabilities
• Multilingual bots

Whether through straightforward cost reductions or indirect ways such as improvements to service resulting in future revenue increases, these features can offer significant financial returns on investment (ROI). 

Benefits to Expect and How They’re Achieved

With ComputerTalk’s support guiding effective implementation, AI can help contact centers achieve a number of benefits that, either directly or indirectly, reduce costs and increase revenues. Together, these benefits can result in a significant financial return on investment:

Up to 65% Increase in Agent Efficiency

With the support of AI-powered tools like ComputerTalk’s Agent Assist, contact center agents automatically receive helpful information and resources, saving them from having to manually look up information and empowering them to resolve customer inquiries faster. This results in shorter average handling times, meaning agents can handle more interactions without working longer hours.

Up to 45% Reduction in Wrap-Up Time

Efficiency improvements extend beyond the call itself. With automated transcription, call summaries, and other contact insights, like reason for calling, customer sentiment, or follow-up actions required, agents don’t have to spend time manually transcribing their calls or making notes about each interaction. They can move on to the next interaction sooner, enabling them to serve more customers in less time.

Up to 17% Increase in Customer Satisfaction

With the efficiency improvements provided to agents by AI, they can resolve customers’ inquiries faster and get to the next inquiry sooner. This keeps wait times low for interactions requiring an agent while bots can eliminate wait times entirely for inquiry types that don’t require an agent. 

Bots can also provide service in a customer’s preferred language and/or outside of staffed hours, further improving the customer experience. These improvements can lead to increased customer satisfaction and loyalty, resulting in higher potential future revenues and a reduction in revenue losses due to customer churn.

Up to 70% Reduction in Time Spent Training on Routine Questions and Basic Policies

With Agent Assist, information is automatically delivered to agents in real time, eliminating the need to recall details from memory and allowing them to focus on the customer. This reduces training needs, saving the organization associated costs. 

Similarly, when ComputerTalk’s AI-powered bots handle simple inquiries, agents don’t need to waste training time on memorizing store hours or answers to frequently asked questions. They can let bots handle those ones and save their training time for more valuable topics.

Up to 40-50% Fewer Agents Required While Still Handling 20-30% More Calls

ComputerTalk’s AI features empower agents to be more efficient, meaning each agent can do more in less time. These efficiency improvements, combined with the offloading of simple inquiries to bots, mean that organizations don’t need to hire as many agents, saving them money on both regular wages and onboarding costs like training. 

Up to 50% Reduction in Staff Requirements

In addition to reducing the number of agents required in a contact center, AI can help reduce other staffing requirements. For example, text-to-speech reduces the need to hire voice talent for IVR menus; AI-powered translation and multilingual bots reduce the need to hire translators; and automated speech analytics reduce the need to hire quality assurance analysts.

Up to 28% Reduction in Negative Customer Interactions

Since ComputerTalk’s AI features can automate speech analytics, organizations can efficiently analyze 100% of interactions, rather than just a random sample. This helps ensure any trends or issues are caught as soon as possible, allowing organizations to address them before they lead to customer dissatisfaction or financial loss.

Want more tips to help you successfully implement AI initiatives in your contact center? Check out Why Contact Center AI Could Fail – And What to Do About it.