The AI-powered systems provide much more improved customer services than the conventionally employed human operators and thus, help in enhancing the customer experience. Moreover, the AI-based systems provide 24*7 assistance and availability which significantly boost customer interaction, the company’s accessibility, and the user experience. Driven by these factors, the valuation of the global call center AI market is expected to increase from $914.5 million in 2018 to more than $2,990.1 million by 2024. The market is predicted to progress at a CAGR of 22.6% during the forecast period (2019–2024).
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The biggest trend currently being witnessed in the call center AI market is the burgeoning adoption of AI enabled chatbots by many organizations. These chatbots incorporate the use of the available information such as the organization knowledge base and frequently asked questions (FAQs) in order to provide enhanced customer service. In addition to this, the chatbots help in resolving customer queries in a much shorter period of time as compared to the human operators. The chatbots can provide customer care services to multiple customers at a single time and this makes them highly useful in large enterprises.
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.
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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.
