Lux urges industry to embrace AI analytics

Granular analytics powered by AI will soon become more prevalent in building a better customer experience according to Telcoswitch CEO Russell Lux.

The popularity of AI-driven chatbots has grown significantly, with younger consumers particularly fond of interacting with companies in this manner, but Lux believes AI’s transformative potential is bigger.

“The next step is to make better use of AI in communications analytics, to help raise the customer experience to the next level. The past two years have urged organisations to invest more into AI-based analytics than ever before. Companies that continue embracing this trend are the ones that will prosper,” said Lux.

Research by Hubspot found that 90% of customers rate an “immediate” response to a customer service question as important or very important, with 60% defining “immediate” as 10 minutes or fewer. A survey by PwC also found that 32% of customers would stop doing business with a brand they love after just one poor experience.

Lux pointed out the ability to transcribe speech into text as an example of how to bridge call recordings and data analysis driven by AI.

“Having the capability to spot keywords, phrase patterns and even voice tonality helps build a comprehensive view of customer sentiments and the quality of their interactions,” he said.

“Capturing both sides of a conversation using voice recognition software used to be difficult, but the technology is now capable of separating caller from agent, thereby enabling more granular analysis and allowing the true potential of AI to come to the fore. By layering screen and video capture into the mix, the organisation can harness all of this data to build a full profile of interactions between different customers and audiences.”

Lux concluded: “The outlook for businesses in 2022 looks much more positive than the last two years. It’s the ideal time for leaders to figure out the best ways to unleash the full promise of AI, and build a more complete, rounded experience for customers.”

Related Topics

Share this story