Multilingual virtual agents set to transform the customer care landscape

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When you call a company’s customer service line, you want answers, and you want them now – especially if you’re facing a crisis or emergency. So, when Covid-19 turned the world on its head, customers were not very happy to be held in a queue for hours because customer service teams just couldn’t handle the huge spike in requests for information.

Chatbots were mostly not up to the job. While these software applications have been taking some load off from human agents in recent years, they can only provide simple answers to simple questions. Their inability to search for information and resolve complex issues can become yet another source of frustration for increasingly demanding customers. And that’s bad for business, with poor experiences likely to drive customers to your competitors.

Fortunately, Conversational AI, the focus of this month’s IBM Think Summit Belgium, offers solutions to organizations needing to respond instantly to shifting customer needs.

Talking human

Conversational AI uses machine learning and natural language processes to take customer experience to a whole new level. Virtual agents powered by this technology can update customers’ contact details, and even remember who they are to provide personalized advice and recommendations. Combined with AI powered search, they can give customers the answers they are looking for, using advanced search techniques to find the most relevant information from your organization’s knowledge bases.  And they’ll do all this 24/7, using natural human language.

Of course, even the most sophisticated virtual agents will not always understand the nuances of a customer’s queries, which is where human agents can take over. So, rather than making humans redundant – a widespread but misplaced fear – Conversational AI frees employees from mundane, repetitive tasks, and gives them more satisfying roles in resolving the most difficult issues. That, then, improves the customer experience because, as we all know, satisfied, engaged employees give great service.

Delivering consistent service

It’s still early days when it comes to the adoption of Conversational AI, with just 8.7% of European software buyers using the technology in 2020, according to market intelligence provider IDC. But Conversational AI looks set to take off in a big way because it ties in so well with the drive for greater automation that companies across the world are trying to achieve.

For European organizations, an additional driver is the need to comply with both local and EU regulations, and to do so in many different languages. As a result, Europe is fast becoming one of the most dynamic markets for this technology, as organizations look for Conversational AI platforms that can support multiple languages to deliver consistent service across the region.

Always learning

IBM’s Conversational AI offering, Watson Assistant, working with its AI-powered search tool Watson Discovery, provides first contact resolution via phone calls, web chat, SMS and other channels, while dramatically cutting costs and increasing customer satisfaction.  Watson does this by understanding not only the human languages spoken wherever you operate, but also learning the language of your business. In fact, Watson never stops learning, remembering customers’ previous conversations, and using this knowledge to personalize their experience, and so provide better service over time.

Achieving payback

But is this technology worth the investment? To answer this question IBM commissioned a study from Forrester Consulting into the potential return on investment (ROI) from using Watson Assistant. Based on interviews with existing customers, this found that an organization can see benefits of $23.9 million over three years, compared to costs of just $5.5 million – an ROI of 337%, with payback typically evident after just six months.

Customers were also happy.  As one interviewee, the head of digital supply innovation in a financial services firm, put it: “I think there have been massive benefits for everyone involved. It’s a win for customers; they get a more consistent, faster response. It’s good for us and our staff and ultimately good for the industry.”

Finding success

Organizations that have found success with IBM’s customer care solutions include one of Spain’s largest lenders, CaixaBank, which used IBM Watson Discovery and IBM Watson Assistant to create a new customer service platform.  The result was a drastic reduction in call center volumes, with the virtual assistant instantly answering 80% of queries.

Public sector organizations are also benefiting from partnering with IBM to improve their customers’ experience. In Denmark, for example, the company has helped digitize a common communication platform for 37 municipalities. Using both Watson Assistant and Watson Discovery, this will streamline services and cut costs, while giving residents access to information anytime, anywhere.

You can learn more about how multi-lingual virtual assistants are transforming customer care in both the public and private sector by joining the round table on “How to respond instantly to shifts in customer care” at the IBM Think Summit Belgium, for information and to register visit the event website >