The Roi Of Ai In Modern Cx Programs: Happy Customers, Service Excellence, And Financial Success
Why Are CX Leaders Investing in AI?
In 2019, Aberdeen surveyed 369 CX leaders across companies of all sizes, industries, and locations for The CX Executive’s Agenda 2019 study. The findings revealed that 53% of companies were using one or more of the AI capabilities noted in the sidebar. In early 2020, this survey was refreshed with The CX Executive’s Agenda 2020, (March 2020), which surveyed 405 businesses (of all sizes, industries, and locations). This latter study revealed that 68% of companies use AI capabilities as of 2020 — reflecting a 28% year-over-year (YoY) increase in adoption of AI capabilities between 2019 and 2020.
Why are CX leaders increasing their adoption of AI capabilities at such a rapid pace? Table 1 reveals that the number one factor driving AI investments for more than half of all firms using AI capabilities in both 2019 and 2020 is the desire to infuse greater intelligence within customer interactions. The CX Executive’s Agenda 2020, (March 2020) study indicated that 78% of companies are not satisfied with their ability to use data when managing customer interactions. As a result, companies are increasingly turning to capabilities such as machine learning to analyze vast volumes of data rapidly and accurately with the help of algorithms to reveal hidden factors influencing their activities. Additionally, they rely on tools such as automation and prescriptive guidance to leverage these insights to accomplish their goals.