| |December 20198rtificial intelligence is redefining and helping businesses reimagine the way they operate. AI-led automation is becoming mission critical for today's enterprises ­ whether it's behind the scenes helping companies stream-line processes or providing business insights, or working the frontlines, helping both customers and employ-ees self-serve. It's no secret that Indian consumers readily embrace online shopping and now AI-powered chat-bots are helping companies deliver customers a personalized experience at scale. Consumers can now ask ques-tions, get advice and understand op-tions before making a purchase - re-ducing calls to the contact center, thus creating more efficient and effective customer experience.With millions of dollars being pumped into customer acquisition, retaining customers is a clear marker for business success. With soaring customer expectations, businesses need to evolve engagement tactics to be more personalised and contextu-ally relevant ­ and this is where AI can shine. In fact, a recent study conduct-ed by Accenture stated that AI has the potential to add $957 billion to India's economy by 2035. And, with the right investments, this technology can create long-term economic and societal value. Making Customer Experience SimplerOne significant roadblock to creating a remarkable customer experience are broken and cumbersome customer interactions. No one likes to wait for assistance, hence, AI is helping bring more immediate service to customers everywhere. Customer-facing chat-bots can help customers self-serve and get answers to frequently asked ques-tions quickly such as tracking a pack-age, checking an account balance, get-ting the payment link, checking order status, returning an item, or booking an appointment. Making the chatbot visible and easy to find helps custom-ers quickly address their queries or gain the necessary information, in-stead of having to search through the entire website for what they need. For example, popular banks like HDFC and ICICI Bank launched vir-tual customer assistants Eva and iPal respectively to help improve customer experience while controlling their overheads. While Eva becomes smart-er as it learns through its customer interactions, iPal covers three exten-sive applications; answering FAQs or common queries from consumers; helping to conduct financial transac-tions like P2P fund transfers and bill payments; as well as common tasks like resetting ATM pins. Canara Bank has taken it a step further by install-ing robots named Mitra and Candi for speeding up customer service re-sponse rates. While Mitra greets cus-tomers at the bank's Karnataka branch and helps them navigate through the large premises, Candi offers answers in English to 215 pre-set questions at HOW AI IS TRANSFORMING CUSTOMER EXPERIENCE IN INDIABy Rahul Sharma, Managing Director - India & SAARC, LogMeInA IN MY OPINIONHELLO!Rahul Sharma, Manging Director - India & SAARC
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