Tag: business value

How AI improves customer service

Exceptional customer service should be solution-driven, accurate, and fast. For many companies, that means recruiting the best crop of talents who can quickly learn their systems. But nowadays, businesses are turning to artificial intelligence (AI) to improve customer service.

How AI capabilities enhance customer service

AI has two capabilities that enhance customer service: machine learning and natural language processing.

Machine learning studies historical customer data in your systems and equips your customer service staff with all the information they need to address concerns much faster and provide personalized product suggestions, discounts, and offers. It’s the same mechanism that enables Facebook to suggest friends and brands to add or follow, and allows Amazon to personalize product recommendations.

On the other hand, AI’s natural language processing capabilities make it possible for businesses to deploy computerized customer service systems that don’t require human support staff. AI-enabled systems can ‘talk’ to customers via software similar to that of Apple’s Siri, Google’s Alexa, and Windows’ Cortana.

Automated, accurate, and agile responses

Although well-trained employees can multitask and solve customer problems, humans make mistakes. Automated systems like chatbots provide accurate and quick responses because they can be programmed to respond rapidly and accurately, handle large volumes of queries, and be available 24/7.

For example, a restaurant chain that often receives queries about a branch’s opening hours can use a chatbot to handle questions about store hours, reservations, and other simple concerns. A retail store chatbot can also make online ordering seamless by answering questions about product sizes and/or availability.

Overall, AI-enabled chatbots can reduce or eliminate pain points commonly encountered with human customer service representatives, such as long wait times, inefficient escalation of complex concerns, and negative human emotions from irate customers, all of which affect customer satisfaction levels.

Cost-efficient support

Businesses spend thousands of dollars to hire and train customer service representatives. But based on studies, the high attrition rates in the call center industry cost them a lot of money. Some companies even let operations staff handle customer support, which then affects productivity and reduces profitability.

AI-powered platforms reduce the time and money spent on customer service because you don’t need to hire more support staff in case of business expansion. Instead, you can reprogram customer service software so that queries about new products or new business locations can be easily addressed.

Many customers still prefer to have their problems solved by humans. And for banks, hotels, hospitals, and businesses where complicated concerns require human customer service agents, an AI-powered support system can facilitate seamless issue resolutions.

Fortunately, there are plenty of technology options to make customer service and other functions more efficient. Call us today for innovative business technology solutions.

Published with permission from TechAdvisory.org. Source.

3 Surprising applications of blockchain

Most people associate blockchain technology with Bitcoin, the infamous digital currency that rose to fame in 2017. But blockchain technology is not tied to financial transactions, and it’s creating all sorts of exciting opportunities for faster, more secure information exchange — see for yourself!

What is blockchain?

Blockchain, like the cloud, is more of a concept than a specific piece of software or hardware. It’s the idea that if you store a spreadsheet or ledger on a hundred different computers — each of which receive automatic and encrypted updates — it’s nearly impossible to create a fraudulent entry. If someone adds a line of false information to one spreadsheet, 99 others can confirm it is not in their copy and is therefore inaccurate.

In the Bitcoin ledger, each line represents the transfer of funds from one account to another. So if John wants to transfer money to Jane, he sends a request to Bitcoin’s blockchain and thousands of computers confirm his account information is correct and he has sufficient funds. The money is transferred, both account balances are updated, and the whole process takes less than an hour with almost no human interaction. Much faster than the 5-7 business days of most banks.

There are countless applications for decentralized, real-time record keeping beyond financial transactions, though. And very soon, blockchain won’t be synonymous with Bitcoin.

Blockchain’s potential

Although this technology has been around since the ’90s, it lacked the popularity and computing power necessary to become a mainstream solution…until now. With the rise of cryptocurrencies in 2017, blockchain started seeping into other industries, such as:

  • Law – “Smart contracts” create agreements that automatically execute when their terms are met. For example, an attorney could agree to pay a courier $100 after the delivery of documents to the defendant in a case. The contract and the payment sit in the blockchain until the courier uploads a GPS-tagged photo of services rendered, at which point the money is transferred and the contract archived.
  • Agriculture – Supply chain blockchains can track every ingredient throughout the production process. If several people get sick from the same food item, ingredients could be traced back to their source and products that share the same ingredients could be recalled preemptively.
  • Real estate – Blockchain is being used to automate escrow account transactions, property title transfers, and insurance claims, so they aren’t reliant on slow and error-prone humans. Buying a home could eventually be as easy as finding the one you want, signing a contract, transferring your down payment, and receiving the title — no middleman necessary.

Most blockchain-based solutions are too new to trust with sensitive information. But you can do a few things to get out in front of your competitors. You can work with us to invest in business intelligence software that helps you collect more data, and start experimenting with risk-free blockchain solutions.

As long as you have certified technicians like ours at your disposal, you’ll be sure to see gains in no time — give us a call today!

Published with permission from TechAdvisory.org. Source.

Big gains for small-business IT in 2017

How many new technologies did your business adopt last year? Too many? Too few? You’ve officially made it through 2017 and there’s no better time than now to review which IT fads were worth investing in, and which ones should be left in the past. Look no further than our recap of last year’s most valuable technologies for small businesses.

Small businesses love the cloud

According to research from IDC, more than 70% of businesses with 10-99 employees took advantage of cloud technology in 2017, and that number is expected to rise this year. This is largely due to IT providers demonstrating that the cloud is just as, if not more, secure than on-premises solutions. The list of possibilities for what can be hosted in the cloud on a small-business budget is getting longer every day — if you’re not devoting resources to this technology, it’s time to jump onboard.

Mobile payments earn users’ trust

Like the cloud, making credit card purchases using a mobile device suffered from a trust deficit in its early stages. For good reasons, consumers have been conditioned to treat IT security with caution, and storing financial information on a smartphone that could wirelessly transmit that information to cashiers sounded dangerous.

However, after two years of availability without any major incidents, the number of users who have used smartphone-based wallets like Apple Pay has doubled. Accepting these payments is relatively simple for small businesses and opens up new business opportunities.

Cybersecurity becomes affordable for SMBs

Ransomware had yet another year of explosive growth, and small businesses were a primary target. Thankfully, managed IT services providers met the increased demand for cybersecurity services with intelligent data backup and network protection solutions tailored for SMB budgets. There will be even more ransomware attacks in 2018, which means you should be investing in more cybersecurity services than you did last year.

The Internet of Things gains popularity

Just a couple years ago, Internet of Things (IoT) devices were novelty gadgets for people with money to burn. Everything was being connected to WiFi networks: egg trays, pet-activated video chats, belts, you name it. But due to more useful applications in 2017, nearly a third of US businesses are now taking advantage of IoT gadgets. Connected thermostats, door locks, and AI assistants make it easy to save money, increase security, and boost productivity.

“Artificial Intelligence” is widely adopted

Although we’re still far from building computers that can truly think for themselves, 2017 was the year that computers got much better at creatively organizing and interpreting data for us. From digital assistants that answer your phones to customer relationship management platforms that intelligently uncover sales opportunities, IT solutions for business are getting significantly cheaper and smarter. Experts predict that more than 30% of businesses will use AI by next year and we recommend you join their ranks.

Technology investments are no different from any other investment. There will always be risks and you should always consult with an industry expert first. When you’re ready to get more value out of your IT, give us a call and we’ll get started on your 2018 plan!

Published with permission from TechAdvisory.org. Source.