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3 Ways Generative AI Can Enhance Customer Experiences

3 Ways Generative AI Can Enhance Customer Experiences

3 Ways Generative AI Can Enhance Customer Experiences

As part of Solutions Review’s Contributed Content Series—a collection of contributed columns written by industry experts in maturing software categories—Joe Piette, the Executive Vice President of Customer Experience at Andrew Reise, outlines a few ways generative AI technology can help companies improve their customer experiences.

Decades-high inflation, high-interest rates, and a softening economy are all causing business leaders to search for more cost-efficient growth solutions. Using AI-driven automation to upgrade customer experience (CX) could be the answer. Most corporate leaders understand that better CX is a must if they want to hit their growth goals. After all, 71 percent of consumers say they’re willing to recommend a product or service after having a great experience. But many companies don’t have the tools, time, or resources to keep up with customer expectations—let alone to wow customers. As a result, companies are missing out on significant growth opportunities. 

Generative AI could change that. Generative AI is advancing to a point where it’s matching—and often outperforming—human tasks. As it evolves, generative AI could help corporate leaders elevate CX, draw in more loyal customers, and drive long-term growth. 

Why Companies Need AI More Than Ever 

Make no mistake, companies are looking for a hero like AI to step in and improve CX. The need for improved CX increases as competition rises and customer expectations rise. According to a report by Netomi, 65 percent of consumers have higher expectations today than three to five years ago. What’s more, a Salesforce report found that 80 percent of customers say their experience with a brand is as important as its products and services. 

However, those expectations are outpacing companies’ abilities to meet customer demands. A recent Acquia survey found that just 10 percent of customers strongly agree that companies meet consumer expectations for good customer experiences. The result is a widening gap between customer expectations and companies’ abilities to meet those needs. Consumers are becoming frustrated as the chasm between customer demand and company capabilities widens. Corporate leaders are understandably worried they will lose business because of disappointed customers. 

How AI Can Elevate CX 

AI is positioned to step in, fill the gaps in the customer experience, and ignite a whole new level of growth for companies. Here are a few ways how AI can improve CX: 

1. Solving Pain Points with Predictive Analytics 

AI and machine learning can scan swaths of data, spot trends, and predict customer behaviors. Not only does this mean that companies can proactively promote products and services that customers want, but it also gives companies a deeper look into customer friction points. 

This technology works by analyzing customer data hubs, reading customer behavior data, and laying out actionable insights about customer needs. With that info in hand, companies can step in and prevent customer mishaps before they damage the brand’s image, flag churn hazards, and help boost retention. At the same time, predictive analytics allows companies to spot trends, quickly identify preferences, and fast-track their CX transformations. 

2. Weaving Hyper-Personalization into the Brand Experience 

The more personalized experiences companies deliver, the quicker they can connect with customers and increase brand loyalty. In fact, a Google study found that 90 percent of marketers say personalization contributes to a business’s profitability on a significant level. 

Generative AI can quickly analyze customer data and deliver personalized messages. Similar to how Netflix and Spotify can read customer preferences and suggest new products, AI can pore over customer buying patterns to serve customers ads or suggestions that are more relevant than ever. This can dramatically improve the shopping experience, boost customer experiences, and broaden customer reach. 

As AI language tools become indistinguishable from human voices, these models could build personalized emails, responses, and instructions. As a result, companies can simultaneously drive down labor costs and drive up customer expectations. 

3. Reducing Labor Needs with Support Interactive Interfaces 

The recent explosion of language-based AI tools—such as ChatGPT—has dominated the headlines recently. What’s discussed less is how these tools can revamp companies’ customer support capabilities. These tools make it possible to converse with customers, answer their questions, and solve their problems at all hours of the day—in seconds. And the faster customers can solve their issues, the faster they’ll make purchases. 

Support interactive interfaces can also help organizations gather information to inform CX upgrades. For instance, these tools can process customer preferences and use them to design personalized surveys that draw in more feedback. This uptick in the quality and quantity of customer feedback can help companies pinpoint customer pain points, adjust their strategies, and deliver even more outstanding customer experiences. 

Moving Forward With AI 

As technology hits consumers with faster responses and instant solutions to their problems, their expectations are surging higher. To keep up with expectations and edge out competing brands, companies need to start harnessing AI. Adopting generative AI can help companies identify customer needs faster, deliver more thorough responses, and lift CX to a whole new level; that’s a formula for an upswing in customer growth.

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