| |December 20199the financial institution. Functional-ity will only improve in the future. In fact, Gartner claims 85 percent of all customer relationships will ultimately be managed without human interac-tion. Thus, it is only a matter of time before more organisations in India make this digital transformation.Provide Concierge-Like ExperiencesIn addition to making customer sup-port easier and more accessible, Indian companies are using the technology to provide all customers concierge-like experiences usually reserved for VIPs. Myntra, an online store for fashion and lifestyle goods in India, uses AI to serve users with the right recom-mendations, based on the past buying behaviour of the user and the popular trends. One of India's top emerging fintech companies, Rubique utilises AI and ML (machine learning) to perfectly match borrowers and lenders while enhancing the overall customer experience using AI. So how does it do that? The tech-nology is harnessing a huge amount of data from multiple sources com-prising the individualistic interac-tions of a customer with a brand. AI combined with Machine learning is making customer engagement much more personalised by analysing the users' past behaviour and interactions on social media. Businesses are lever-aging the technology to expand their pool of data through variables like real-time location, context, behaviour and values to tailor the customer expe-rience across channels. Therefore, AI is indeed winning over businesses to become much more strategic in nature not only to solve their business-related problems but also drive revenue and loyalty with customers to provide a truly personalised experience.Optimum, Round-the-Clock Support The world around us is now a digital-ly connected hub operating Twenty-Four Seven ­ leaving businesses with the need to be accessible at any point. Unlike brick and mortar stores, online customers are not willing to wait till the shutters are opened to do busi-ness. By solving far-ranging needs, AI is one tool helping businesses to achieve this. Gartner says the impact of AI on the revenue of global businesses will increase by a multiple of three by 2022 to be worth USD 3.9 trillion. So, the best time for companies to implement AI-enabled customer ex-perience transformations is now. Once the customers become comfortable with AI-enabled smart and intuitive experiences, they will not settle for anything less. Gartner says the impact of AI on the revenue of global businesses will increase by a multiple of three by 2022. So, the best time for companies to implement AI-enabled customer experience transformations is nowHELLO!
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