Voice systems that sound too robotic, IVR structures that are too rigid, doom loops that offer no way out… almost every consumer can relate.
Yet, the needle is starting to move. Soon, talking to AI will feel just like having a normal conversation, and success rates will continue to grow.
Gartner even predicts that by year-end 2027, conversational AI applications will automate approximately 70 percent of customer support interactions within enterprises.
“Voice AI is quickly approaching human parity, as it does adoption is going to accelerate quickly” said Jake Tyler, AI Market Lead at Glia, a leading Voice AI provider for banks and credit unions. “This pattern is playing out in other markets already, from translation services to driverless cars, and contact centers and customer service will be next.”
The contact center economic model will shift with that change. Leaders will need to rethink who works there, how many people are required, and what they do. At Glia, Jake and his team are helping bank and credit union leaders reconfigure how their contact center and frontline teams are positioned to best support the communities they serve in the AI-era.
It’s not an easy conversation, it’s downright uncomfortable sometimes, but it’s one many companies need to have.
The Three Options Businesses Face
Don’t skip ahead to 70 percent of customer support conversations. Consider: what if AI did half the work? If AI takes on this much labor, what happens next?
In this scenario, a business would have three options (which they may blend).
1. Reinvest
This is the crowd pleaser. In this scenario, the contact center would keep its headcount flat and reinvest the savings in its people.
The classic example is to give agents more time to interact with high-value customers and graft away at meaty, complex issues.
Yet, there are other ways in which a fully-staffed contact center can add value.
For instance, leaders could rearchitect customer journeys. Here, a contact center may pass an issue that is possible to automate over to a human representative, if it’s particularly emotive. The rep could then offer warm, firm reassurance to boost loyalty. Similarly, they can have humans answer contacts that have high upsell or cross-sell potential.
In addition, the contact center could expand its customer and community outreach.
Consider a financial institution. It could contact customers to explore new opportunities to grow loans and deposits. Meanwhile, it may reach out to the community to promote financial literacy programs and other initiatives.
Case Study
Busey Bank has expanded its customer base by 25 percent. Yet, because of voice AI, it managed to keep its headcount steady.
In fact, it even managed to reskill two frontline employees, placing them into more strategic research roles.
As its AI exploits continue it even plans to offer career advancement for other reps into areas like career advancement in areas like treasury and commercial.
As Caitlin Drake, SVP and Director of CX & Support, said:
“By investing in technology, we can put our people on a career path that opens more doors for them and allows them to serve the company at a higher level.”