Organizations like Burger King Brazil, Medtronic and The Royal Marsden are gaining value from virtual agents implemented in partnership with IBM
As many organizations across the world look to digital tools to help address surges in customer inquiries due to the COVID-19 pandemic, a new IBM study revealed 99% of respondents report an increase in customer satisfaction as a result of using AI-driven virtual agent technology.
The research showed organizations that are early adopters of AI and cloud technology are reaping significant benefits from AI-driven virtual agents. 94 percent of respondents defined as "leaders" – those who implemented AI-driven virtual agents early, integrated them with backend systems and trained them with many contacts – have already achieved or exceeded their expected return on investment, compared to 49 percent of others.
"During the COVID-19 pandemic, organizations are balancing the need to rapidly scale customer service to manage surges in inquiries, while still delivering a delightful customer experience – and doing it all for less," said Glenn Finch, global managing partner, Cognitive Business Decision Support, IBM Services. "The study validates what we're seeing from clients around the world: those who have adopted virtual agent technology are seeing both bottom-line and top-line results including reduced costs, higher customer and human agent satisfaction, and increased revenue as a result."
IBM is working with many clients across industries to use AI to put critical data and information into the hands of their customers and employees with AI-driven virtual agent technology, including Burger King Brazil, Medtronic and The Royal Marsden. An IBM-commissioned Forrester Consulting TEI study found a large organization could achieve an average cost savings of USD 5.50 per contained conversation using IBM Watson Assistant.
The IBM Institute for Business Value study, titled "The value of virtual agent technology," surveyed more than 1,000 companies, spanning 12 industries and 33 countries, that have used virtual agents for just six months to over four years.
Additional study findings include:
- 44% of "leaders" reported having fully integrated cloud strategies for their service desk systems, compared to 19 percent of others
- 20% is the average contribution to human agent satisfaction attributed to virtual agent technology by responding organizations.
- Organizations using virtual agents reported a 64% average containment rate – the portion of total contacts the virtual agent technology has been trained to handle that it resolves without human agent involvement.
- For 46 percent of "leaders" in virtual agent technology, and 33 percent of other respondents, customer experience is the most important driver of virtual agent use.
- Every respondent reported that virtual agent technology has contributed to an increase in organization revenue, the average increase being 3 percent
About IBM Institute for Business Value
The IBM Institute for Business Value (IBV) delivers trusted business insights from our position at the intersection of technology and business, combining expertise from industry thinkers, leading academics, and subject matter experts with global research and performance data. The IBV thought leadership portfolio includes research deep dives, benchmarking and performance comparisons, and data visualizations that support business decision making across regions, industries and technologies. Follow @IBMIBV on Twitter, and to receive the latest insights by email, visit: www.ibm.com/ibv.
More than ever, there is a demand for IT to deliver innovation. Your IBM i has been an essential part of your business operations for years. However, your organization may struggle to maintain the current system and implement new projects. The thousands of customers we've worked with and surveyed state that expectations regarding the digital footprint and vision of the company are not aligned with the current IT environment.
TRY the one package that solves all your document design and printing challenges on all your platforms. Produce bar code labels, electronic forms, ad hoc reports, and RFID tags – without programming! MarkMagic is the only document design and print solution that combines report writing, WYSIWYG label and forms design, and conditional printing in one integrated product. Make sure your data survives when catastrophe hits. Request your trial now! Request Now.
Forms of ransomware has been around for over 30 years, and with more and more organizations suffering attacks each year, it continues to endure. What has made ransomware such a durable threat and what is the best way to combat it? In order to prevent ransomware, organizations must first understand how it works.
Disaster protection is vital to every business. Yet, it often consists of patched together procedures that are prone to error. From automatic backups to data encryption to media management, Robot automates the routine (yet often complex) tasks of iSeries backup and recovery, saving you time and money and making the process safer and more reliable. Automate your backups with the Robot Backup and Recovery Solution. Key features include:
Business users want new applications now. Market and regulatory pressures require faster application updates and delivery into production. Your IBM i developers may be approaching retirement, and you see no sure way to fill their positions with experienced developers. In addition, you may be caught between maintaining your existing applications and the uncertainty of moving to something new.
IT managers hoping to find new IBM i talent are discovering that the pool of experienced RPG programmers and operators or administrators with intimate knowledge of the operating system and the applications that run on it is small. This begs the question: How will you manage the platform that supports such a big part of your business? This guide offers strategies and software suggestions to help you plan IT staffing and resources and smooth the transition after your AS/400 talent retires. Read on to learn:
LATEST COMMENTS
MC Press Online