Consider a future in which you are never on hold, waiting for a customer service representative to work their way through their call waiting line before answering you. Instead, using a combination of self-service and artificially intelligent digital assistants, all of your queries are answered, and your problems are addressed quickly and thoroughly. Though this hypothetical situation isn’t yet a reality, it’s not as far away as you would believe.
Artificial intelligence (AI) has seen increasing adoption in recent years across various sectors and verticals. Indeed, Gartner estimates that by 2022, enterprises will have an average of 35 AI projects in place, up from an average of just four in 2019.
What is Intelligent Automation?
Intelligent automation (IA), also known as cognitive automation, is the application of automation technologies such as artificial intelligence (AI), business process management (BPM), and robotic process automation (RPA) to help streamline and scale decision-making. Intelligent automation has a broad array of applications since it streamlines procedures, frees up resources, and boosts operational efficiencies.
How is Intelligent Automation changing Retail?
- Conversational and transactional AI is revolutionizing order management by automating invoice processing, order status activities, shipments, and cancellations.
- Allowing self-service returns and refunds means retail operators don’t need to carry out repetitive tasks.
- Managing customer relationships during onboarding, pre and post-sales.
- Augmenting customer care and support to provide the modern day consumer with a seamless experience.
While AI used to be something you might associate with tech leaders and large e-commerce brands, the Covid-19 pandemic closed the gap for smaller retailers. According to McKinsey, consumer and digital penetration moved ten years forward in just a few months due to the new reality.
What can retailers expect from Intelligent Automation solutions?
The quality of interactions between the customer and support teams can make or break the business.
In an omnichannel environment, the challenge for retailers is how they handle everything in an efficient and timely manner. Digital customer service has rapidly expanded with new online, mobile app, and social media channels and traditional channels, such as chat and interactive voice response (IVR), enhanced with the latest technology.
93% of customers say they are likely to repeat purchase with companies that offer outstanding service.
