One of the most important technological advancements that have happened in this century is the development of artificial intelligence (AI). While the term ‘artificial intelligence’ was coined in 1956, it is only since the past few years that the technology has gained popularity, particularly because of advanced algorithms, increased data volumes, and enhancements in storage and computing power. Basically, AI enables machines to learn from experience and to adjust to new inputs and perform human-like tasks. AI-based devices and machines heavily rely on natural language processing (NLP) and deep learning technologies. By making use of these technologies’ computers can be trained to accomplish tasks by processing large amounts of data.
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Today AI is being utilized in almost every field in order to automate tasks and improve efficiency. So, it’s only fair that the utilization of AI is increasing in call centres as well because of its several benefits. The technology gathers information over time in order to establish patterns that can be addressed more readily, which make the process in call centers more efficient. AI also has speech recognition abilities, which can help in simplifying the communication between companies and customers, so that questions are answered readily and lead the customer to the right department or personnel quickly.
According to a P&S Intelligence report, in 2018, the global call center AI market size reached a value of $914.5 million and is predicted to generate a revenue of over $2,990.1 million by 2024, advancing at a 22.6% CAGR during the forecast period (2019–2024). Different AI-based technologies which are used in call centers include automatic speech recognition (ASR), NLP, machine learning, video recognition, computer vision, and cognitive computing. Because ASR technology allows customer self-service, creates customer database with accurate insights, optimizes complex process of interactive voice response, and improves quality monitoring, its demand was the highest in the past.
North America has been the largest user of call center AI in the past, primarily because of the increasing investments for leveraging AI for automating operations in call centers, presence of major companies in the region, need for offering enhanced customer experience, advancements in the voice recognition technology, and increasing the work productivity of agents. The call center AI market is also projected to witness considerable growth in the Asia-Pacific region in the near future, owing to the evolving customer expectations, need for enhancing employee productivity, and rising rate of innovation.
Hence, the need for call center AI is growing because of the increasing need for automating operations and providing better to customers.
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