Next-generation customer management: The perfect integration of man and machine
The vision is already old: people will connect with machines and intelligent robots to get information and advice. This is now closer to becoming a reality, with the finance industry currently using chatbots as advisors in customer service. And that is only the first step towards the next stage of development: the bionic transformation, the cooperation of human advisors and digital services.
Just a few years ago, chatbots were seen as nothing more than gimmicks. But when the American financial giants Bank of America and MasterCard began using their own chatbots, they started to take on an important role in customer service. They now answer both simple and complex questions alike. To do this, they use enormous amounts of data, be it customer data or data from interactions that took place long ago. As a result, the customer reacts positively when the bot recognizes him immediately and greets him by saying: “Hello, Mr. Mayer, it’s nice to see you again. How can I help you?”
Artificial intelligence with a much larger amount of data
By using the data, the chatbot continually learns. It remembers customers from previous interactions and knows their preferences and requirements. Whenever customers feel like it, they can write or talk to the chatbot, for example over Facebook Messenger, and ask it to go to a car dealership’s website. Then, then can ask about suitable models, features and prices. The bot supplies the information and shows the advantages and disadvantages of various models with regard to fuel consumption, environmental footprint and the cost of upkeep and insuring the vehicle. If the customer so desires, the bot can also trigger the purchase of the chosen model in the end.
Financial service providers lead the way in development
Perfect customer service using AI has not yet been implemented in many fields. Financial service providers are already a step ahead of many industries. For example, with the bot MyKai, which was developed and programmed by the New York start-up “Kasisto” for MasterCard. The messaging app carries out simple tasks for the customer, displays the account balance, reviews recent transactions and processes transfers. It is a perfect service channel. But during the first test phase, many of the users felt it lacked a human touch. The perfect mix of man and machine — is that the solution?
Bionic transformation and the benefit for banks and customers
In their latest study on the topic of “man-machine integration,” the response of the Boston Consulting Group (BCG) to that question was a resounding “yes.” According to the consultants, retail banks could increase their profits by at least a third by means of bionic transformation. “Bionic transformation — the efficient, intelligent, and customer-focused teamwork of human advisors acting in concert with digital products and services — is crucial for long-term success in the market,” says Holger Sachse, a BCG expert for retail banking. This would not only benefit the banks but also the customers, in the event that service was designed more efficiently, for example, and processing times were reduced. Thanks to smart data analyses by bots, customers will then be able to look forward to customized online and offline offers, attractive and comprehensible products at fair prices — and above all, a better feeling.
Author: Editorial team Future. Customer. Image: iconimage – AdobeStock