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Leveraging AI for enhanced CX
- 1. @ThaboNdlela August 2023 Leveraging AI for enhanced Customer Service and Experience
- 2. 2 Accenture Functions Accenture Capabilities How we’re structured for delivering growth for clients
- 3. Copyright © 2020 Accenture All rights reserved. Copyright © 2023 Accenture. All rights reserved. 3 Service Challenges Market Trends Generative AI Customer Journey AGENDA
- 4. Service Centre Challenges Increasing Volumes War for Talent Legacy Technology Regulatory Challenge Multiple factors are driving increased call volumes, complexity and cost into contact centres: the cost of living crisis is leading to higher volumes (and average cost) and increasing levels of fraud; a more complex regulatory landscape, and pressurised labour market, are increasing costs and levels of attrition 3x increase in AHT due to staff shortages and complex handling processes meaning agents are able to take fewer contacts per day. 35-45% annual agent attrition rates remain consistently high across the industry, due to greater demands for remote working etc 68% of CX leaders agree their current technology solutions are not effective in delivering digital customer experiences. c.90% of vulnerable customers are struggling to access contact centre customer support services. Regulatory Changes. Sources: • Accenture Customer Service Research 2022/23 • https://contact-centres.com/90-of-vulnerable-customers-struggling-to-access-contact-centres/ • Customer Think - 15 Statistics that Forecast the Future of the Contact Center | CustomerThink Copyright © 2023 Accenture. All rights reserved. 4
- 5. Key Customer & Industry Trends 1 EXPLOSION OF A.I. AND CHAT 2 THE CROSS-CHANNEL SERVICE DESK 3 BLURRING OF ONLINE AND OFFLINE 4 CONTINUOUS, AGILE EVOLUTION 5 EXPLOITING DATA THROUGH THE CLOUD Copyright © 2023 Accenture. All rights reserved. 5
- 6. 48% 64% 55% 55% 47% 48% 56% 32% 46% 48% 56% 49% 51% 35% 44% 44% 49% 52% 43% 68% 52% 51% 43% 50% 1% 1% 1% 1% 4% 0% 1% 0% 2% 1% 1% 1% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Argentina Australia Canada China France Hong Kong India Indonesia Malaysia Mexico United Kingdom United States Basic transactional services - Customer Channel Preference Digital Distribution (Mobile, Web,Social Media, Video) Traditional Distribution (Branch, Telephone, Mail) I don't do this 52% global average - digital distribution Source: Accenture Global FS Surveys 2016/17, World Retail Banking Report EFMA, Public sources e.g. UK Payment Council, Financial Brand $- $0,50 $1,00 $1,50 $2,00 $2,50 $3,00 $3,50 $4,00 $4,50 Branch Location Phone/Call Center ATMCash Withdrawl Online Banking Mobile Banking Average Cost per transaction Low cost and omnipresent coverage Mobile Channel Online Channel ATM Contact Centre Branch Contact centre as the cross channel service desk Digital channels are already preferred for basic services and subject to considerable investment by organisations to lower cost to serve. Whilst adoption will grow, customers will seek an ‘always on’ human escalation point when using mobile banking – the contact centre Copyright © 2023 Accenture. All rights reserved. 6 2
- 7. THE CONTACT CENTRE IS DEAD… LONG LIVE THE CONVERSATION CENTRE! Copyright © 2023 Accenture. All rights reserved. 7
- 8. Copyright © 2023 Accenture. All rights reserved. 8 How did we get here? Milestones in the journey to generative AI Machine learning: Analysis and prediction phase A new era of generative AI for everyone The first decade of the 2000s marked the rapid advance of various machine learning techniques that could analyze massive amounts of online data to draw conclusions – or “learn” – from the results. Since then, companies have viewed machine learning as an incredibly powerful field of AI for analyzing data, finding patterns, generating insights, making predictions and automating tasks at a pace and on a scale that was previously impossible. Deep learning: Vision and speech phase The 2010s produced advances in AI’s perception capabilities in the field of machine learning called deep learning. Breakthroughs in deep learning enable the computer vision that search engines and self-driving cars use to classify and detect objects, as well as the voice recognition that allows popular AI speech assistants to respond to users in a natural way. Generative AI: Enter the language-mastery phase Building on exponential increases in the size and capabilities of deep learning models, the 2020s will be about language mastery. The GPT-4 language model, developed by OpenAI, marks the beginning of a new phase in the abilities of language-based AI applications. Models such as this will have far-reaching consequences for business, since language permeates everything an organization does day to day—its institutional knowledge, communication and processes.2
- 9. Copyright © 2023 Accenture. All rights reserved. 9 AI’s adoption is at an inflection point Use of AI is correlated with increased enterprise value (EV) GenAI is technology disruption on steroids; get going or get left behind Gen AI will permeate every corner of the business processes With its ability to create new content based on existing data, generative AI has the potential to change the way we create and consume content in the future 35% 50% 30% 2 Months of companies reported using AI, an additional 42% reported exploring AI of organizations are realizing savings, efficiencies and better CX of the net outbound messages in large organizations will be synthetically generated by Gen AI by 2025 Search popularity on “ChatGPT” surpassed “AI” in ~2 months IBM Global AI Adoption Index - May 2022 IBM Global AI Adoption Index - May 2022 Google Trends Gartner Jan 2023 Early adopters have incorporated LLM (Large Language Model) based starter solutions to integrate Gen AI and scale business Personalized user experiences with increased discoverability & faster retailer onboarding Enable creation, assembly, curation, and optimization of unique and creative digital content Created dream-like imagery at record speed for upcoming social media campaigns for Instagram …and more Teams up with OpenAI and Bain & Company to use ChatGPT & DALL-E to craft personalized ad copy, images, and messaging. McKinsey and Stich fix are using the text-to-image AI generator, to boost sales and improve customer satisfaction with better styling services.
- 10. GenAI can bring value to key levers across Revenue, Cost, Productivity and promote Sustainable business practices Revenue Uplift Productivity • Improve focus on high-level strategic activities with automation • By automating redundant tasks ESAT score, and Agent retention rate can be improved • Increase in response time through better service design and subsequently improve the FCR of front-line agents • Improve sales rep’s efficiency and effectiveness via assistance and training Cost Optimisation • Reduce the environmental impact of customer service operations, with fewer agents • Reduce the need for customers to travel to physical locations for support, lowering carbon footprint • Reduce risk of cyber security including data breaches, hacking, and other malicious attacks that harm the company's data ecosystem Risk & Sustainability Cost savings through • Reduce the FTE cost, faster resolution (response time), Improved first contact resolution, Reduction in training costs, Improve customer retention • Reduce cost to serve • Reduce cost of return and replacements • Increase in CPC and CPA • Increase average order value leading to higher ROI by offering real-time personalized recommendations • Increase order conversion ratio • Improves customer lifetime value • Increase CSAT and customer retention rate, leading to increase in revenue through repeat business Copyright © 2023 Accenture. All rights reserved. 10
- 11. There are clear horizon 1 contact centre GenAI use cases Before Contact During Contact After Contact Customers Employees Operations Cognitive Operations CLTV / Proactively identify churn risk/Service Recovery Continuous improvement & LLM training Auto-QA for human:machine alignment Data privacy, AI Safety and bias monitoring KPI derivations Knowledgebase build and auto finding Call summary and flags Auto tagging and follow ups. Agent Copilot IMPACT TO Convo Boosters for pivots and correction Dynamic prompts / Alerts for pivots / Real-time feedback Sentiment and Predictive Support Service Design & Build for Self-Service Multilingual translation Hyper-personalization Agent Coaching Conversational VA Copyright © 2023 Accenture. All rights reserved. 11
- 12. • Conversational Analytics & Language Modelling • Analyse large volumes of customer care email/call transcripts to identify intents, to understand customer agent conversation flow and to design virtual agent's blueprint Conversational Analytics and Language Modelling allowing to be more efficient through intent recognition and conversation modelling Accelerated virtual agent design by 15-20%. 15-20% Copyright © 2023 Accenture. All rights reserved. 12
- 13. • Proactive Outreach • AI-based Virtual Assistant able to proactively anticipate customer needs and enhance customer experience within digital channels Proactive outbound customer engagement software which connects an organization to its customers through multiple digital channels with conversations that automate customer journeys. 92% Customer engagement rate 93% conversations held in automation for customer journey triggers the deal engagement strategy a journey with each customer a human or virtual agent if needed (-5% of customer journey) within client systems Click to play the video Copyright © 2023 Accenture. All rights reserved. 13
- 14. THE ROUTE TO SUCCESS Copyright © 2023 Accenture. All rights reserved. 14
- 15. Customer journeys can be reimagined and rapidly transformed by harnessing the growth in channels and the power of Cloud, data, AI, while rejuvenating the workforce Customer Engagement Transformation (Strategy, Design, Implementation & Operation) Customer Service / Contact Center Modernization (incl J2C & cloud modernization/ re- platforming) & CCaaS Intelligent Growth & Enablement Services (Proactive, Human, Automated à Conversational Ads, Agent Coaching, Biometric, Generative AI) Customer Service Workforce Operations (Agent Experience & Enablement) Key types of programmes… Industry “Customer” Journeys CSAT 3X Customer Lifetime Value 5 – 15% Revenue 2-15% Outcomes Delivered OPEX 10 – 40% Brand Value & Industry Disruption Fraud Reduction $2B savings Marketing to Sales to Service Experience (CX&EX) Workforce Platform • Rapid journey innovation • Omni-channel expansion including metaverse • Proactive, personalized, automated, and augmented human interactions • Omni channel cloud platform (CCaaS) +CRM • AI Innovation (Generative) across Proactive, Automation, Augmentation • Customer 360 and Interaction Intelligence • Open, extensible and adaptable platforms • Employee Value Proposition (EVP), new and enriched career paths • Dynamic & multi-skilling • Innovation in employment models (e.g., gig economy) • Cognitive operation Powered by Distinctive Assets & Partners Copyright © 2023 Accenture. All rights reserved. 15
- 16. Attributes • Entertains me • Makes me feel Immersed and lose track of time • Aggregates information and helps me easily digest it • Finds the information I am interested in • Gives me the information I want at a glance • Adapts and improves over time • Tailors itself to my needs • Makes me feel cool • Is intuitive and easy to use • Connects me to people • Makes me feel more connected with others • Simplifies a task • Manages and organizes as aspect of my life Holds people’s attention in an entertaining way FUN RELEVANT Provides clear and customized information ENGAGING Identifies with individual needs and wants SOCIAL Connects people with each other Is efficient, easy and adapts over time F R E S HELPFUL H Affinity in the 5 dimensions of the Fjord ‘Love Index’ F R E S H Source: Fjord 2018 Core ingredients for delivering a world class customer experience Copyright © 2023 Accenture. All rights reserved. 16
- 17. THANK YOU
- 18. Powering with pre-built starter solutions How Accenture can help AI Product Expert Product info knowledge assistance chatbot AI Talking Kiosk Customer service assistant ready to take orders and provide recommendations AI Trend Sensor Global news and social share aggregation for trend identification AI Visual Content Creator AI Generated product imagery via easy- to-use design studio AI Catalog Manager Catalog creation and merchant onboarding, attribute enrichment and categorization AI F&A Invoice Processor Invoice automation solution with learn- from-everyday-work approach for F&A AI Employee Co-pilot Employee internal knowledge assistance chatbot AI Regulatory Document Generator Creation of technical documents for regulatory purposes AI Agent Co-pilot Contact center call summarization, sentiment analysis, client information retrieval AI Trust Meter Quantify and improve trust in conversations with multi-sense measuring Solutions upcoming for: IT, Supply Chain, Engineering & Manufacturing, Sustainability, Corporate Strategy, M&A, Research & Development AI Marketing Editor Product title and description creation at scale; optimized for search & marketing AI Content Summarizer Summarize news article, white paper and publications