Discover how the shift from traditional IVR systems to Intelligent Virtual Assistants (IVAs) is transforming the contact center landscape.
This year’s Call and Contact Center Expo in Las Vegas was an eventful occasion, with industry leaders and experts sharing their insights on the future of contact center technology. One standout presentation was the keynote address by Bill Schwaab, VP of North America at boost.ai, which delved into the shift from traditional IVR systems to Intelligent Virtual Assistants (IVA).
Contact centers have come a long way since their inception, with the complexity of products and services driving the need for highly efficient systems. While technology has advanced rapidly, contact centers still face many challenges, such as staffing shortages due to the Great Resignation, overwhelming inbound requests, and the need to provide personalized experiences.
Digital transformation has pushed businesses to offer more digital products and services than ever before, leading to an increased demand for online support. Artificial Intelligence (AI) is poised to revolutionize customer service due to its potential to lower operational costs, personalize customer experiences, deliver actionable analytics, and boost agent productivity.
IVAs offer numerous benefits over traditional IVR systems. They provide a more personalized experience, have the ability to understand and interpret complex requests, and can easily integrate with existing systems through APIs. This results in faster resolution times, improved customer satisfaction, and ultimately, increased ROI for businesses.
Key Advantages of Implementing IVAs in Contact Centers:
- Enhanced customer experience: Personalized and efficient support through understanding complex requests.
- Improved resolution times: Faster query and issue resolutions with quick information access and processing.
- Increased agent productivity: AI-powered assistance for routine tasks and valuable insights.
- Seamless integration: Easy API-based integration with existing systems.
- Cost savings: AI chatbots help reduce operational costs, with 51.8% of contact centers having an AI strategy in place.
- Scalability: Capability to handle numerous simultaneous requests without compromising support quality.
IVA technology is being leveraged by contact centers to enhance user experiences and increase ROI. Examples include the use of Agent-Assist with Voice, which offers live support agents the assistance of an AI-powered virtual assistant, and the implementation of large language models (LLMs) to improve understanding and communication.
Industry stats show that replacing people with AI chatbots could save up to $80 billion in staffing costs per year by 2026, and by 2031, this number could increase to around $240 billion in savings each year. Moreover, around 88% of consumers agree that the contact center experience is just as important as the quality of the product or service offered.
As AI technology advances and public interest in projects like ChatGPT grows, consumers will likely demand more modern support experiences. Contact centers must continue to evolve and adapt, embracing AI and other technologies to stay competitive and offer exceptional customer experiences.
The Call & Contact Center Expo has demonstrated that the future of contact centers lies in the adoption of AI-powered technologies like IVAs. As we continue to witness rapid advancements in AI, businesses need to re-evaluate their customer support strategies and invest in technologies that can provide the best possible experiences for their customers.
By embracing these transformative solutions, contact centers can not only overcome the challenges they currently face, but also position themselves as leaders in delivering exceptional customer service in an increasingly digital world. Now is the time for contact centers to seize the opportunity and evolve, ensuring they remain competitive and relevant in the ever-changing landscape of customer experience.
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Interested in learning more about how you can use Intelligent Virtual Assistants to transform your contact center and boost customer experience? Book time with one of our experts!