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It’s Time to be Smart About Your AI Strategy

By Chris Ezekiel, Founder & CEO

I first started working in the world of virtual agents in 2000 and, even though the technology was very much in its infancy at the time, saw huge potential for innovation and growth in the industry. Having now led my own company in this space for over 15 years, I have a unique perspective on the advancements of conversational AI technology and the ways it can be used. I was pleased to share some of my insights with the AI Time Journal recently in an interview for their Conversational AI Initiative.

Whether you use chatbots, virtual agents, conversational AI or one of the other numerous terms in the market today to describe this technology, one of the biggest challenges the industry faces (besides the inconsistent terminology!) is the lack of understanding within organisations about deploying these solutions. Just a few years ago this was due to them not really knowing much about virtual agents or how these tools can be used to improve the customer and employee experience. Now there is typically a general understanding of what virtual agents are, and the lack of understanding stems more from the media hype around AI and the confusion created by other vendors making false promises about the capabilities of the technology.

As I discuss in the interview, I truly believe that the key to a successful conversational AI strategy is to work with an experienced team of people. Enterprises need to be smart about the choices they make and not get swept up in the AI hype and empty promises if they want to have a strategy that will not only work today, but also set them up for future innovation and expansion.

This is why the Creative Virtual team is the company’s biggest asset. We’re able to provide organisations with the consultation services they need to really understand the possibilities – and limitations – of the technology and develop a customised implementation plan rooted in industry best practices. It is our combination of an experienced, expert team and our award-winning technology that sets us apart from other vendors in the space. In fact, this was one of the reasons that Frost & Sullivan selected Creative Virtual as the AI-Enhanced Customer Self-Service Product Leader this year. You can read more in their independent report.

In a world where customer experience is THE differentiator, one of the biggest opportunities for organisations implementing conversational AI is the ability to provide a superior and personalised experience to their customers. They can deliver on customer expectations for an experience that is effortless and embedded within their normal day-to-day activities. The interaction with your company becomes like that of friends interacting with each other.

Enterprises also shouldn’t overlook the big opportunity to leverage this technology to provide that same type of effortless, personalised experience for their employees. That can be onboarding new team members, training and supporting contact centre agents, delivering internal service desk support, offering easy self-service for HR questions – just to name a few! We’ve seen a huge increase over the past few years in these types of internal implementations with impressive results.

My interview also delves into my thoughts on voice-enabled conversational interfaces, challenges of channel-specific chatbots, and future technology trends that will impact the industry. My thanks to the AI Time Journal Editorial Staff for including me in their Conversational AI Initiative! You can read my full interview here.

Conversational AI for Financial Services

By Liam Ryan, Sales Director

Traditional banks and financial institutions can no longer count on lifelong loyalty from their customers. Gone are the days of people selecting and staying with a bank simply because their family has been banking with that institution for generations. Fintechs and digital start-ups are disrupting the space, and customers are increasingly willing to take their business to a financial brand that offers them a personalised, easy experience that fits with their lifestyle.

Advancements in artificial intelligence (AI), machine learning and analytics can help financial brands keep pace with customer expectations, but these types of digital transformation projects aren’t always easy to get off the ground. At the AI & CX Transforming Financial Services Directors’ Forum at the end of June, the expert speakers and panellists addressed some of the customer experience (CX) challenges the industry is facing.

Our Founder & CEO, Chris Ezekiel’s opening keynote – Taking Your CX into the Future with Conversational AI – got the day started with a look at AI-enhanced chatbots, virtual agents and live chat. Chris gave insights into what is possible with conversational AI technology and then backed that up with real examples through a series of live demos. He emphasised the need for the contact centre to be a part of digital transformation initiatives, which had many in attendance nodding their heads in agreement.

One theme that ran through the various presentations and panel debates was the great opportunity the financial services industry has to make life easier for customers and employees with new AI solutions. Whether it be giving customers easy, 24/7 access to smart self-service or helping compliance teams stay on top of changing regulations, AI technologies should be approached as positive additions to transformation strategies. However, internal education about the real benefits and limitations of the technologies and getting executive buy-in continue to be major challenges in many organisations.

During the networking breaks, there continued to be insightful discussions about AI and machine learning, including lessons learned through both successful and unsuccessful projects and ideas on how to overcome anti-AI sentiment based on misunderstandings of the technologies. We had a number of attendees stop by the Creative Virtual table to see more live examples of chatbots and virtual agents. They were excited to see how financial brands are using the technology today to provide customer self-service, assist agents in the contact centre and provide internal HR and service desk support. We even had one attendee say she had specifically come to the event to hear Chris’ presentation because his live demos always provide her with great use cases to share in her consulting work.

If you’re thinking about adding a chatbot to your digital strategy, or have a failing chatbot project you’re ready to abandon, download our Top Tips for Implementing a Chatbot or Virtual Agent in 2019. Our team would also love to show you our AI-enhanced self-service solutions in action, so I encourage you to request a live demo.

Our thanks to the Informed.AI team for putting together an insightful forum agenda and a delicious lunchtime spread. We’re looking forward to joining you again for the CXtech Conference & Showcase in October.

AI & CX in Financial Services

Employee Engagement and the Digital Workplace

By Mandy Reed, Marketing Manager (Global)

Organisations are dealing with the rapid pace of digital change, both internally and externally, and the ways those changes are affecting their employees. From HR to internal IT support desks, companies are increasingly placing a focus on improving the employee experience through new digital initiatives. If you’re working to improve the employee experience in your organisation, then be sure to join us at the Digital Workplace Directors Forum on 30 January in London.

The one-day conference will feature case studies, innovative digital workplace solutions and tips for improving employee communication. Creative Virtual Founder & CEO, Chris Ezekiel, will draw on his experience in the industry to present on Conversational AI for Employee Engagement. He’ll outline the essential components for using conversational AI solutions to improve the employee experience, from best practices for implementing chatbots, virtual agents and live chat to using an orchestration platform for centralised, consistent information and delivery. His session will include live demonstrations of current implementations so attendees can experience first-hand how this technology can have a positive impact on the digital workplace.

The Creative Virtual team will be on hand during the Networking Breaks to provide more information on our employee-focused chatbot, virtual agent and live chat solutions and to share tips to help you build a business case for implementing these technologies in your organisation.

Visit the Digital Workplace Directors Forum website for the full agenda and ticket information. Hope to see you there!

Not able to attend the event in London but interested in learning how we can help you increase employee productivity, reduce internal support costs and improve engagement? We’d be happy to arrange a personalised demo at a time that works for you – request your demo here.