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CONVERSATIONAL INTELLIGENCE
Enabling better customer conversations and outcomes
Neil Movold
Founder & CEO
InsightNG
The challenge:
lack of insight
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Increasing lack of actionable insights!
35% of the top 5,000 global companies
...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Customer value is built on conversations
These conversations hold
invaluable i...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Identifying emerging issues before they escalate
Companies need to leverage al...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
The digital revolution continues globally – phone traffic drops 12%
Source: di...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Corporate memory is increasingly made up of conversational dark data!
BUSINESS...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Corporate memory and blind spots are affecting decision making
What are your k...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Corporate amnesia is an increasing problem to conversational intelligence
Corp...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Findability and access to all conversational knowledge is paramount!
Source: J...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Humans excel at
reasoning, deep thinking, solving
complex problems
BUT…
the hu...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Why is processing human data different?
Human data is growing 10x faster than
...
A new approach:
using cognitive
computing
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Enriching years of customer interaction and domain experience
Cognitive comput...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Continuously enriching and dynamically adding value
Once the information has b...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Every interaction educates and increases effectiveness
Unlike other predictive...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Impacting the business within weeks
Since the technology is lightweight
and qu...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Ways people think and demonstrate their cognitive abilities
The scope of cogni...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Extending the boundaries of human cognition rather than replace
Cognitive syst...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Cognitive systems:
1) look like a tool but acts like an Assistant
Bringing the...
Creating value:
the cognitive
business journey
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Cognitive decision makers
worldwide say outcomes
from cognitive initiatives
ex...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Find and understand
your structured and
unstructured data
wherever it resides
...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Engaging higher in the business value pyramid
A cognitive business creates new...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Scaling expertise has the biggest
return on improving the
customer experience....
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Cognitive Computing
(e.g. Conversational
Intelligence)
Capabilities
Explore An...
What is it?:
Conversational
intelligence
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Key points of value include:
1) Focuses on simultaneously lowering cost, lower...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Listening, learning and acting when necessary
CustomerClient Executive
Convers...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Trained with many skills
A Conversational Intelligence solution can be
trained...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Use case: Insurance industry email based renewal process
Insurance companies i...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Expiry
Customer (action with Company)
Company (waiting on Customer)
Key enable...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Key enabler – cognitive assessment of natural language tone
Drilling down thro...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Key enabler – relationships of key stakeholders
Conversations identify the
peo...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Use case summary: Insurance industry email based renewal process
By deploying ...
A COGNITIVE BUSINESS IS A THINKING BUSINESS
Conversational Intelligence built on cognitive technologies can
lower costs, l...
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Conversational Intelligence and Better Customer Conversations

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Conversational intelligence builds on the advancements in artificial intelligence and cognitive computing to help organisations to lower costs, lower risk, and increase value. This is achieved through a variety of outcomes, such as enhancing engagement through providing personalized understanding, scaling and elevating human expertise, infusing products and services with contextually aware knowledge, enabling automated, intelligent business process and powering the ability for disruptive data discovery and exploration that have otherwise eluded organisations for decades.

Conversations play an important role in building these relationships, but they are increasingly taking on digital forms, which are very hard to track. These conversations hold valuable information, but how can companies extract actionable insights? What role does Conversational Intelligence play?

Listen to an interview that Founder & CEO Neil Movold did with B2M's Simon Fawkes on the subject of Conversational Intelligence and the answers to these questions.

https://b2m.co.nz/conversational-intelligence/

Published in: Business
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Conversational Intelligence and Better Customer Conversations

  1. 1. CONVERSATIONAL INTELLIGENCE Enabling better customer conversations and outcomes Neil Movold Founder & CEO InsightNG
  2. 2. The challenge: lack of insight
  3. 3. A COGNITIVE BUSINESS IS A THINKING BUSINESS Increasing lack of actionable insights! 35% of the top 5,000 global companies regularly fail to make insightful decisions about significant changes in their business and markets (source: Gartner) 65% executives agree increasingly complex business environment has made it more difficult to base decisions on purely “functional” factors such as cost, quality or efficiency (source: gyro/FORTUNE Knowledge Group) 61% executives agree when making decisions, human insights must precede hard analytics (source: gyro/FORTUNE Knowledge Group)
  4. 4. A COGNITIVE BUSINESS IS A THINKING BUSINESS Customer value is built on conversations These conversations hold invaluable insights that traditional approaches to managing corporate memory cannot deal with and surface. Conversations build the relationships that drive customer value and experience. Conversations are increasingly taking on digital forms, such as emails, documents, social media, voice or video – adding more unstructured dark data to the growing corporate memory.
  5. 5. A COGNITIVE BUSINESS IS A THINKING BUSINESS Identifying emerging issues before they escalate Companies need to leverage all their internal, external and publicly available conversational data to identify issues as quickly as possible to get ahead of and avoid o negative press, o huge penalties by industry regulators; and most importantly, o to protect the safety of their customers. Identifying emerging issues occurring within conversations before they escalate helps protect o reputations, o customer loyalty and o revenue.
  6. 6. A COGNITIVE BUSINESS IS A THINKING BUSINESS The digital revolution continues globally – phone traffic drops 12% Source: dimension data Telephone IVR Automated Services Email Web Chat Social Media – FB etc. Smartphone App SMS Text Video Chat Service Kiosk support Website (peer-to-peer systems) Customer engagement is shifting across available channels as new technology adoption increases and expectations evolve. Developing models that can reveal different and often hidden aspects of an individual creates insights that can be used to o deepen relationships, o shape initiatives; and o drive innovation.
  7. 7. A COGNITIVE BUSINESS IS A THINKING BUSINESS Corporate memory is increasingly made up of conversational dark data! BUSINESS CRITICAL DATA 15% REDUNDANT, OBSOLETE AND TRIVIAL, OR ROT DATA DARK DATA, LURKING FAR BENEATH THE LINE OF SIGHT AND INCREASING 52% 48% ? ? ? ? ? ? ? ?? ? BUSINESS CRITICAL DATA15% REDUNDANT, OBSOLETE AND TRIVIAL, OR ROT DATA DARK DATA - LURKING FAR BENEATH THE LINE OF SIGHT AND INCREASING! 52% 48% Veritas: The Databerg Report 2016 seeing ALL data as a strategic asset ? ??
  8. 8. A COGNITIVE BUSINESS IS A THINKING BUSINESS Corporate memory and blind spots are affecting decision making What are your key business metrics and where are blind spots in making decisions that can be better informed through insight derived from your organisation’s previously untapped sources of unstructured conversational dark data and dark knowledge (i.e. tacit knowledge)?
  9. 9. A COGNITIVE BUSINESS IS A THINKING BUSINESS Corporate amnesia is an increasing problem to conversational intelligence Corporate amnesia is the loss of accumulated corporate knowledge due to: o employee departures o changing workforce demands (i.e. distributed workforce across the business including freelance and remote work) o a fragmented IT landscape
  10. 10. A COGNITIVE BUSINESS IS A THINKING BUSINESS Findability and access to all conversational knowledge is paramount! Source: Jive Software global survey March 2017 Only 20% to 30% of all corporate memory created is every used, creating huge risk over time as stakeholder disconnects across silos undermine the data’s value
  11. 11. A COGNITIVE BUSINESS IS A THINKING BUSINESS Humans excel at reasoning, deep thinking, solving complex problems BUT… the human ability to read, analyze, and process huge volumes of data, both structured and unstructured is quite poor and… humans are time constrained, subject to personal limits and limited by unconscious biases that influence the decisions we make
  12. 12. A COGNITIVE BUSINESS IS A THINKING BUSINESS Why is processing human data different? Human data is growing 10x faster than traditional business data. It is mostly unstructured dark data and knowledge made up of ideas, is diverse and has context: Ideas don’t exactly match like structured data does as they generally have distance Human information is not static – it’s dynamic and lives everywhere Traditional approaches (e.g. BI, analytics) fail to process this valuable data. cognitive approaches are needed!
  13. 13. A new approach: using cognitive computing
  14. 14. A COGNITIVE BUSINESS IS A THINKING BUSINESS Enriching years of customer interaction and domain experience Cognitive computing technology can be used to create a customer knowledge layer that enriches data collected over years of customer interaction and domain experience. The platform combines data (e.g. CRM, care or account management systems) with files from various internal and external sources.
  15. 15. A COGNITIVE BUSINESS IS A THINKING BUSINESS Continuously enriching and dynamically adding value Once the information has been enriched, the cognitive technology continuously applies o data enrichments, o predictive recommendation algorithms o unsupervised semantic learning The process is both continuous and dynamic.
  16. 16. A COGNITIVE BUSINESS IS A THINKING BUSINESS Every interaction educates and increases effectiveness Unlike other predictive analytics that are rules-based and static, cognitive technology is o self-learning, o real-time and o contextual. Every interaction and result educates the platform, helping it become even more effective over time.
  17. 17. A COGNITIVE BUSINESS IS A THINKING BUSINESS Impacting the business within weeks Since the technology is lightweight and quick to deploy, cognitive computing can impact business revenues within weeks. This is achieved using a compressed platform-based methodology.
  18. 18. A COGNITIVE BUSINESS IS A THINKING BUSINESS Ways people think and demonstrate their cognitive abilities The scope of cognitive computing consists of o engagement, o decision-making, o and discovery. These 3 capabilities are related to the ways people think and demonstrate their cognitive abilities in everyday life. source: IBM
  19. 19. A COGNITIVE BUSINESS IS A THINKING BUSINESS Extending the boundaries of human cognition rather than replace Cognitive systems are powerful for augmenting human intelligence by creating a new partnership between people and intelligent computers that o enhances, o scales and o accelerates human expertise and conversational understanding. The true value of cognitive systems is how they augment and amplify human abilities. Helping us think and perform our jobs better, faster, not do it for us. source: IBM
  20. 20. A COGNITIVE BUSINESS IS A THINKING BUSINESS Cognitive systems: 1) look like a tool but acts like an Assistant Bringing the ability to mimic the human brain, to learn, to understand in context 2) engage in a conversation: “Have you considered this?” Historical systems were designed to answer a simple question that we posed directly 3) uncover relationships across all data sources Understanding and filtering by context to find patterns in the data that you didn’t know existed, new perspectives - the surprises! 4) constantly learns From new information and new interactions – as you use the system, it gets better Source: Augmenting Human Intelligence, Dr. John Kelly In summary: helping us think and perform better, faster!
  21. 21. Creating value: the cognitive business journey
  22. 22. A COGNITIVE BUSINESS IS A THINKING BUSINESS Cognitive decision makers worldwide say outcomes from cognitive initiatives exceed their expectations 62% GROW KNOWLEDGE FROM DATA ENHANCE EXPERTISE LEARN AND ADAPT Cognitive Business = Digital Business + Digital Intelligence A cognitive business is an organization that harness cognitive computing to create knowledge from data to expand virtually everyone’s expertise, continually learning and adapting to outthink the needs of the market. A cognitive business is a business that thinks source: IBM
  23. 23. A COGNITIVE BUSINESS IS A THINKING BUSINESS Find and understand your structured and unstructured data wherever it resides Cost Simultaneously lower costs, mitigate risks and support compliance Risk Maximize data value and drive better business outcomes Value The cognitive business value proposition Cognitive solutions fit best when they align with and equally enable lowering costs, lowering risk and increasing value.
  24. 24. A COGNITIVE BUSINESS IS A THINKING BUSINESS Engaging higher in the business value pyramid A cognitive business creates new and greater value based on four business patterns where infused cognitive services, at key moments of processes and decisions, can improve business outcomes: 1) improve interactions 2) better engagement 3) better advice 4) react faster Business Outcomes Data Analytics Cognitive Content Search Corpus of Records Unstructured Info Mgt & Data Gov Systems of Records Structured Collective Intelligence Cognitive Engagement DATA CONTENT
  25. 25. A COGNITIVE BUSINESS IS A THINKING BUSINESS Scaling expertise has the biggest return on improving the customer experience. It’s not just about automation for the simple stuff - expertise is hard to develop and retain. Why? Expertise-driven work is usually judgment-oriented - it involves dealing with ambiguity, which requires humans and software to work together. Smarter process infused with cognitive is the most effective way to scale expertise and conversational intelligence. Clerical 20-30% ▪ Payroll ▪ Simple procurement ▪ Billing & Collections Transactional 40-50% Focus on productivity ▪ Order to cash ▪ Procurement Claims processing ▪ Supply Chain ▪ Account Opening Expertise-driven 10-30% Focus on Decision Support ▪ Sales & Customer Service ▪ Marketing & Promotions ▪ Investigations ▪ Financial Trading ▪ Recruiting Business Operations by Work Type ImpactonCustomerExperience Improving customer experience with smarter process + cognitive source: IBM
  26. 26. A COGNITIVE BUSINESS IS A THINKING BUSINESS Cognitive Computing (e.g. Conversational Intelligence) Capabilities Explore Analyze Interpret Benefits Reveal new opportunities Analytics Based on Unstructured Content Expose actionable insights from content Productivity Revenue Improve outcomes across business functions Reduce time spent looking for info – improved productivity Scale expertise General “Findability” and Unified Views Cognitive maturity model – benefits and capabilities for businesses
  27. 27. What is it?: Conversational intelligence
  28. 28. A COGNITIVE BUSINESS IS A THINKING BUSINESS Key points of value include: 1) Focuses on simultaneously lowering cost, lowering risk & increasing customer value i. Personalizes from interactions: leverages natural language & personality insights ii. Learns and adapts with every interaction, continually building a “relationship memory” for each customer, creating a highly personalized relationship 2) Proactive first and reactive where appropriate i. Identifying issues and potential future issues as they are unfolding ii. Lower reaction based negative customer experiences and brand damage iii. Facilitate more efficient business processes  more individualized customer experiences 3) Non-intrusive to the current business workflow / process i. Infused inline to current workflow and use pre-built where applicable ii. No need to build a net-new application to benefit from pragmatic CI 4) Implementation can take a staged approach to maximize ROI and reduce time-to-value – tech is lightweight and quick to deploy Conversational Intelligence Convergence of Key Enablers The key enablers and value proposition for Conversational Intelligence
  29. 29. A COGNITIVE BUSINESS IS A THINKING BUSINESS Listening, learning and acting when necessary CustomerClient Executive Conversational Intelligence Engine TranscriptsTranscripts Systems of Record Conversation flow (email, voice, video) Conversational Intelligence Tone Analyzer Natural Language Classifier Natural Language Understanding Conversational Intelligence augments existing business processes and workflow. It just listens, learns, understands and acts when necessary as any experienced human would do if they overheard something that would undervalue a customer experience.
  30. 30. A COGNITIVE BUSINESS IS A THINKING BUSINESS Trained with many skills A Conversational Intelligence solution can be trained to : o Listen to both sides of a conversation o Understand when the tone of the words used indicate problems in the conversation o Listen out for key words that indicate problems arising from either side of the conversation o Be aware of time-critical components of a conversation o Highlight to an individual in a position of authority / responsibility when issues arise o Listen to thousands of conversations while only escalating the ones that need attention o Be discrete – not disrupting engaged conversations or require any special attention from the active parties participating
  31. 31. A COGNITIVE BUSINESS IS A THINKING BUSINESS Use case: Insurance industry email based renewal process Insurance companies increasingly use emails to notify customers of upcoming insurance renewals, often leading to a threaded conversation between client rep and customer. Insurance is competitive and churn is a known issue related to human constraints influencing the renewal process. In this scenario, the enablers focus and provide: o Timeline – monitoring activities and indicators to ensure time dependent outcomes are achieved as expected o Relationships – monitoring and analyzing all contextually related email conversations, individuals and relationships involved o Cognitive – watching for changes in the nature of the conversation, such as an individual’s tone, that could impact achieving a successful outcome
  32. 32. A COGNITIVE BUSINESS IS A THINKING BUSINESS Expiry Customer (action with Company) Company (waiting on Customer) Key enabler – active timeline management Initial renewal email sent to customer 2 week non- response notification 1 week until cover lapses Policy expired! Unhappy customer! Easy to use interactive visual timeline of an ongoing conversation provides immediate notification of issues and the ability to drill down into the details.
  33. 33. A COGNITIVE BUSINESS IS A THINKING BUSINESS Key enabler – cognitive assessment of natural language tone Drilling down through the “Unhappy customer” notification on the interactive timeline shows why the critical alert was raised. Through automated real-time natural language tone analysis, it is clear that the customer is unhappy that he finds himself currently uninsured.
  34. 34. A COGNITIVE BUSINESS IS A THINKING BUSINESS Key enabler – relationships of key stakeholders Conversations identify the people who are an organisation’s ultimate asset. Also, as some customers have multiple interactions with your organisation, it is invaluable to understand these relationships to leverage their collective value. An interactive visual map can be explored to understand how customers interact with your organisation. billy.bob@this.com Bo.diddly@that.com jdb@that.com
  35. 35. A COGNITIVE BUSINESS IS A THINKING BUSINESS Use case summary: Insurance industry email based renewal process By deploying a conversational intelligence solution into the email based renewal process, the following outcomes can be achieved: o Common factors behind client churn become visible, leading to remedies and improvements o Distressed renewals are identified early and corrective actions are applied o Time to cash is improved o Identifying new opportunities for personalized service o Relationships between the organisation and customer improve as a result of having the proper amount, consistency and quality of conversations
  36. 36. A COGNITIVE BUSINESS IS A THINKING BUSINESS Conversational Intelligence built on cognitive technologies can lower costs, lower risk and increase value by: 1) Enhancing engagement through personalized understanding 2) Scaling and elevating human expertise 3) Infusing products and services with intelligence 4) Enabling automated, intelligent business processes 5) Powering disruptive data discovery and exploration methods Neil Movold neil@insightng.com +64 21 749898 Get in touch to learn more about how Conversational Intelligence can enable better customer conversations and outcomes Conversational Intelligence Thanks goes to Certus Solutions Limited for collaborating on this solution approach

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