90% of Companies Deploy Artificial Intelligence to Enhance the Customer Journey: MIT Global Survey
Announcement posted by Genesys 18 Dec 2018
New MIT Technology Review Insights report sponsored by Genesys found that ‘customer–centric’ brands using advanced AI benefit from increased efficiency, greater brand loyalty, and notable gains in revenue.
A global survey of nearly 600 executives across 18 countries found that companies adopting artificial intelligence (AI)-enabled technology across the customer journey have seen a positive impact on customer satisfaction, service delivery and contact centre performance.
Humans + bots: Tension and opportunity – How top global brands blend human skills and AI to build customer intimacy and drive growth, is the new report from MIT Technology Review Insights, sponsored by Genesys. It analyses how businesses use AI in customer experience programs and examines the corresponding business performance and return on investment (ROI). The survey polled small to large-sized companies, with nearly half of respondents from large organisations with over $5 billion in revenue.
Over a quarter (27%) of the customer experience executives surveyed were from the Asia Pacific region (APAC) many of whom were based in Australia and New Zealand.
Australian and New Zealand companies confident in AI
The survey finds that businesses in Asia Pacific report greater confidence that AI will contribute to significant brand awareness and customer lifetime value performance. Other APAC findings include:
Large Upticks in Efficiency
Globally, respondents reported that AI dramatically improves the efficiency, processing speed and transaction volume of customer interactions. Almost 90% of companies report faster complaint resolution, and over 80% say they enhance call volume processing using AI.
By implementing AI, 70% of respondents report they’ve benefitted from improved revenue. More than half of those surveyed note increases in overall revenue of more than 5%, while over 30% cite revenue growth of more than 10%.
Merijn te Booij, Chief Marketing Officer, Genesys said that the research shows that businesses win big when they deploy AI to handle simple, repetitive tasks. “AI dramatically saves human resources for more complicated or emotional customer needs.
“Pairing automation and machine learning with live agents lead to happier customers, more satisfied employees and financial rewards,” said te Booji.
Deepening Customer Relationships
The MIT Report also revealed that 67% of customer experience leaders embrace AI to make the customer experience more efficient, but also to create deeper, more meaningful relationships with consumers.
In fact, 74% of those surveyed say AI enables agents to spend more quality time with customers. And, over two-thirds of respondents say they employ automated self-service channels, instant messaging chatbots, and sentiment analysis to deliver highly personalised experiences that strengthen ties with customers.
Additionally, 45% of respondents (and more than 75% of customer experience leaders) say AI helps them understand the difference between their stated brand attributes and what customers really think about them.
“While investments in AI are primarily driven by efforts to improve efficiency, the technology’s ability to help companies understand and connect with their customers in more meaningful ways cannot be understated,” te Booij explained.
“Not only do businesses from across the world benefit from day-to-day improvements in contact center performance, they also achieve significant gains in customer loyalty and revenue.”
The full report: Humans + bots: Tension and opportunity – How top global brands blend human skills and AI to build customer intimacy and drive growth. MIT Technology Review Insights, 2018. is available from Genesys. Download your copy here.
About MIT Technology Review Insights
For more than 100 years MIT Technology Review has served as the world’s longest-running technology magazine, the standard bearer of news and insights on how the latest technologies affect the world around us. Read by a global community of innovators, entrepreneurs, investors and executives at the highest level, it offers an unrivaled authority that is backed by the world’s foremost technology institution, and features editors with a deep technical knowledge and understanding of technological advances.
MIT Technology Review Insights is the content solutions division of MIT Technology Review. It includes two main divisions: Research and Live Events. Aligned with the same stellar editorial heritage and standards as the magazine itself, we leverage our access to a wide network of subject matter experts and leading content contributors to create custom content for clients who want to reach new audiences with relevant, cogent and high-quality stories and experiences to users wherever they want it — in digital, print, online, and via unique in-person experiences.
Humans + bots: Tension and opportunity is a report by MIT Technology Review Insights based on a global survey of 599 executives and a series of expert interviews. MIT Technology Review collected and reported on all findings contained in this paper independently, regardless of participation or sponsorship.
About Genesys
Genesys® powers more than 25 billion of the world’s best customer experiences each year. Our success comes from connecting employee and customer conversations on any channel. Every day, 11,000 companies in more than 100 countries trust our #1 customer experience platform to drive great business outcomes and create lasting relationships. Combining the best of technology and human ingenuity, we build solutions that mirror natural communication and work the way you think. Our industry-leading solutions foster true omnichannel engagement because they perform equally well across channels, on-premises and in the cloud. Experience communication as it should be: fluid, instinctive and profoundly empowering. Visit genesys.com on Twitter, Facebook, YouTube, LinkedIn and the Genesys blog.
©2018 Genesys Telecommunications Laboratories, Inc. All rights reserved. Genesys and the Genesys logo are trademarks and/or registered trademarks of Genesys. All other company names and logos may be registered trademarks or trademarks of their respective companies.
Media contacts
Australia
Elizabeth Williams
Group Account Director
ZADRO
elizabeth@zadroagency.com.au
+61 2 9212 7867
+61 411 201 354
Julie Donovan
Senior Account Manager
ZADRO
julie@zadroagency.com.au
+61 29212 7867
+61 410 510 080
A global survey of nearly 600 executives across 18 countries found that companies adopting artificial intelligence (AI)-enabled technology across the customer journey have seen a positive impact on customer satisfaction, service delivery and contact centre performance.
Humans + bots: Tension and opportunity – How top global brands blend human skills and AI to build customer intimacy and drive growth, is the new report from MIT Technology Review Insights, sponsored by Genesys. It analyses how businesses use AI in customer experience programs and examines the corresponding business performance and return on investment (ROI). The survey polled small to large-sized companies, with nearly half of respondents from large organisations with over $5 billion in revenue.
Over a quarter (27%) of the customer experience executives surveyed were from the Asia Pacific region (APAC) many of whom were based in Australia and New Zealand.
Australian and New Zealand companies confident in AI
The survey finds that businesses in Asia Pacific report greater confidence that AI will contribute to significant brand awareness and customer lifetime value performance. Other APAC findings include:
- Nearly half of respondents indicated that between 25% to 50% of all enquiries are now completely resolved through automated channels, leaving agents more time to handle complex tasks.
- 84% of respondents believed customers felt closer to them because of their efforts to improve customer experience.
- More so than other regions, APAC respondents balance a strategic concern for efficiency and intimacy with 76% believing AI investment is driven by a need to improve customer intimacy, and 96% agreeing it is also driven by a need to improve customer experience efficiency.
Large Upticks in Efficiency
Globally, respondents reported that AI dramatically improves the efficiency, processing speed and transaction volume of customer interactions. Almost 90% of companies report faster complaint resolution, and over 80% say they enhance call volume processing using AI.
By implementing AI, 70% of respondents report they’ve benefitted from improved revenue. More than half of those surveyed note increases in overall revenue of more than 5%, while over 30% cite revenue growth of more than 10%.
Merijn te Booij, Chief Marketing Officer, Genesys said that the research shows that businesses win big when they deploy AI to handle simple, repetitive tasks. “AI dramatically saves human resources for more complicated or emotional customer needs.
“Pairing automation and machine learning with live agents lead to happier customers, more satisfied employees and financial rewards,” said te Booji.
Deepening Customer Relationships
The MIT Report also revealed that 67% of customer experience leaders embrace AI to make the customer experience more efficient, but also to create deeper, more meaningful relationships with consumers.
In fact, 74% of those surveyed say AI enables agents to spend more quality time with customers. And, over two-thirds of respondents say they employ automated self-service channels, instant messaging chatbots, and sentiment analysis to deliver highly personalised experiences that strengthen ties with customers.
Additionally, 45% of respondents (and more than 75% of customer experience leaders) say AI helps them understand the difference between their stated brand attributes and what customers really think about them.
“While investments in AI are primarily driven by efforts to improve efficiency, the technology’s ability to help companies understand and connect with their customers in more meaningful ways cannot be understated,” te Booij explained.
“Not only do businesses from across the world benefit from day-to-day improvements in contact center performance, they also achieve significant gains in customer loyalty and revenue.”
- ends -
The full report: Humans + bots: Tension and opportunity – How top global brands blend human skills and AI to build customer intimacy and drive growth. MIT Technology Review Insights, 2018. is available from Genesys. Download your copy here.
About MIT Technology Review Insights
For more than 100 years MIT Technology Review has served as the world’s longest-running technology magazine, the standard bearer of news and insights on how the latest technologies affect the world around us. Read by a global community of innovators, entrepreneurs, investors and executives at the highest level, it offers an unrivaled authority that is backed by the world’s foremost technology institution, and features editors with a deep technical knowledge and understanding of technological advances.
MIT Technology Review Insights is the content solutions division of MIT Technology Review. It includes two main divisions: Research and Live Events. Aligned with the same stellar editorial heritage and standards as the magazine itself, we leverage our access to a wide network of subject matter experts and leading content contributors to create custom content for clients who want to reach new audiences with relevant, cogent and high-quality stories and experiences to users wherever they want it — in digital, print, online, and via unique in-person experiences.
Humans + bots: Tension and opportunity is a report by MIT Technology Review Insights based on a global survey of 599 executives and a series of expert interviews. MIT Technology Review collected and reported on all findings contained in this paper independently, regardless of participation or sponsorship.
About Genesys
Genesys® powers more than 25 billion of the world’s best customer experiences each year. Our success comes from connecting employee and customer conversations on any channel. Every day, 11,000 companies in more than 100 countries trust our #1 customer experience platform to drive great business outcomes and create lasting relationships. Combining the best of technology and human ingenuity, we build solutions that mirror natural communication and work the way you think. Our industry-leading solutions foster true omnichannel engagement because they perform equally well across channels, on-premises and in the cloud. Experience communication as it should be: fluid, instinctive and profoundly empowering. Visit genesys.com on Twitter, Facebook, YouTube, LinkedIn and the Genesys blog.
©2018 Genesys Telecommunications Laboratories, Inc. All rights reserved. Genesys and the Genesys logo are trademarks and/or registered trademarks of Genesys. All other company names and logos may be registered trademarks or trademarks of their respective companies.
Media contacts
Australia
Elizabeth Williams
Group Account Director
ZADRO
elizabeth@zadroagency.com.au
+61 2 9212 7867
+61 411 201 354
Julie Donovan
Senior Account Manager
ZADRO
julie@zadroagency.com.au
+61 29212 7867
+61 410 510 080