Enhancing European Customer Experience with Artificial Intelligence

Enhancing European Customer Experience with Artificial Intelligence

AI Technologies Offer New Opportunities to Nurture Relationships and Enhance Customer Contact Effectiveness

RELEASE DATE
08-Jan-2021
REGION
Europe
Research Code: MFAC-01-00-00-00
SKU: IT04267-EU-MT_25154

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Description

This study focuses on how AI is making inroads into the customer experience (CX) space. After shifting from on-premises solutions to cloud-based services, the industry is embracing AI and integrating it into various CX-related use cases and solutions. Chatbots, voicebots, behavioral applications, biometrics, cybersecurity, speech recognition, machine translation, and automated models for scheduling and forecasting within workforce management are among the many AI-powered functionalities in the CX space.

AI-powered solutions enable time and cost savings, smarter customer services, efficient CX management, and the generation of actionable insights that facilitate decision-making for businesses. It is transforming CX as we know it and has become vital in enhancing product and service quality and driving competitive business differentiation.

The application of AI-powered tools in contact centers are complementing rather than replacing employees. AI improves agent performance by providing seamless, ideal-match routing, with full historical awareness and real-time context to drive recommendations. The increasing industry focus on agent experience (AX) and the growing need to create automated and secure workplaces and contact center environments are becoming the main drivers for creating new AI-powered solutions.

Frost & Sullivan expects a sharp growth in AI-based capabilities and apps assisting consumers and agents over the next few years. Advances in AI, mobile bandwidth, and cloud communications will lead to new AI use cases in the CX space in emerging areas such as biometrics, drone deliveries, and automated vehicles.

AI is the secret ingredient for CX transformation, but there's much confusion around AI and its real value. Decision-makers need information on AI and its use cases to fully understand its power in positively transforming business operations and identifying emerging growth opportunities.

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Artificial Intelligence (AI) in the CX Space

Growth Opportunities Fuel the Growth Pipeline Engine™

Definitions

Definitions (continued)

Why AI is a Game Changer

Major Trends Affecting the Future of AI

AI Information Flow Process

Growth Drivers and Restraints for AI in the European CX space

Branches of AI—NLP

Branches of AI—ML and Predictive Analytics

Branches of AI—DL and Neural Networks

Branches of AI—CV

Branches of AI—Intelligent Agent (IA)

European CX Market State

European CX Market State (continued)

Top Business Priorities

Top Reasons for Investing in AI

Top Concerns with AI

AI Applications Share by Developer Type

Future AI Implementation by Sector

Top AI Use Cases by Sector

AI Implementation Stage

Infusion of AI in CX

Infusion of AI in CX (continued)

Infusion of AI in CX (continued)

AI Effects in CX

How AI Enhances CX

How AI Enhances CX (continued)

Key Takeaways From the European AI Market

Key Takeaways From the European AI Market (continued)

European Enterprise AI Ecosystem

Growth Opportunity 1—Voicebots

Growth Opportunity 1—Voicebots (continued)

Growth Opportunity 2—Chatbots

Growth Opportunity 2—Chatbots (continued)

Growth Opportunity 3—Intelligent Virtual Assistants

Growth Opportunity 3—Intelligent Virtual Assistants (continued)

Growth Opportunity 4—Sentiment Analysis

Growth Opportunity 4—Sentiment Analysis (continued)

Growth Opportunity 5—AI Biometrics

Growth Opportunity 5—AI Biometrics (continued)

Growth Opportunity 5—Visual Recognition

Growth Opportunity 5—Visual Recognition (continued)

Growth Opportunity 6—Smart WFO/WFM

Growth Opportunity 6—Smart WFO/WFM (continued)

Growth Opportunity 7—Predictive Analytics

Growth Opportunity 7—Predictive Analytics (continued)

Growth Opportunity 8—AI-Assisted Payment Systems

Growth Opportunity 8—AI-Assisted Payment Systems (continued)

Growth Opportunity 9—Cybersecurity

Growth Opportunity 9—Cybersecurity (continued)

Growth Opportunity 10—Machine Translation

Growth Opportunity 10—Machine Translation (continued)

Growth Opportunity 11—Market Analysis and Personalized Experience

Growth Opportunity 11—Market Analysis and Personalized Experience (continued)

Growth Opportunity 12—Workflow Automation

Growth Opportunity 12—Workflow Automation (continued)

The Last Word

The Last Word (continued)

List of Exhibits

Legal Disclaimer

Related Research
This study focuses on how AI is making inroads into the customer experience (CX) space. After shifting from on-premises solutions to cloud-based services, the industry is embracing AI and integrating it into various CX-related use cases and solutions. Chatbots, voicebots, behavioral applications, biometrics, cybersecurity, speech recognition, machine translation, and automated models for scheduling and forecasting within workforce management are among the many AI-powered functionalities in the CX space. AI-powered solutions enable time and cost savings, smarter customer services, efficient CX management, and the generation of actionable insights that facilitate decision-making for businesses. It is transforming CX as we know it and has become vital in enhancing product and service quality and driving competitive business differentiation. The application of AI-powered tools in contact centers are complementing rather than replacing employees. AI improves agent performance by providing seamless, ideal-match routing, with full historical awareness and real-time context to drive recommendations. The increasing industry focus on agent experience (AX) and the growing need to create automated and secure workplaces and contact center environments are becoming the main drivers for creating new AI-powered solutions. Frost & Sullivan expects a sharp growth in AI-based capabilities and apps assisting consumers and agents over the next few years. Advances in AI, mobile bandwidth, and cloud communications will lead to new AI use cases in the CX space in emerging areas such as biometrics, drone deliveries, and automated vehicles. AI is the secret ingredient for CX transformation, but there's much confusion around AI and its real value. Decision-makers need information on AI and its use cases to fully understand its power in positively transforming business operations and identifying emerging growth opportunities.
More Information
No Index No
Podcast No
Author Federico Teveles
Industries Information Technology
WIP Number MFAC-01-00-00-00
Is Prebook No
GPS Codes 9705-C1,9661