MIT survey: APAC firms confident in AI link to customer lifetime value

While 90 per cent of organisations that have adopted artificial intelligence (AI) are experiencing positive impacts on their customer satisfaction, service delivery and contact centre performance, according to a recent survey by MIT Technology Review Insights, it is Asia Pacific organisations that are reporting the greatest confidence that AI will have a significant impact on both customer lifetime value performance and brand awareness.

Humans + bots: How top global brands blend human skills

Sponsored by Genesys,creator of SAP compatible solutions, the survey “Humans + bots: How top global brands blend human skills and AI to build customer intimacy and drive growth” analysed the experience programs and corresponding business performance and return on investment of companies of all sizes from small business to large enterprises reporting over $5 billion annual revenues. The survey included almost 600 executives across 18 countries, with 27 per cent of respondents based in the APAC region.

The study found that more than in any other region, APAC respondents balance a strategic concern for efficiency and intimacy, with 96 per cent saying that AI investment is driven by a need to improve customer experience efficiency and 76 per cent saying that their investment is also driven by a desire to improve customer intimacy. This compares to 67 per cent of global customer experience leaders seeing AI as a means to increase efficiency and create deeper customer relationships.

“Pairing automation and machine learning with live agents leads to happier customers, more satisfied employees and financial rewards,” said Merijn te Booij, chief marketing officer, Genesys.

“Not only do businesses from across the world benefit from day-to-day improvements in contact centre performance, they also achieve significant gains in customer loyalty and revenue.”

Facts and Figures

A full 70 per cent of global respondents reported that AI has resulted in increased revenue. More than 50 per cent reported revenue increases of more than 5 per cent, while 30 per cent reported increases of more than 10 per cent.

Almost half of APAC respondents indicated that 25 to 50 per cent of all enquiries are now resolved through automated channels, enabling their agents to spend more time on more complex tasks.

Almost three-quarters of global respondents said that AI enables their agents to spend more quality time with customers. More than two-thirds said that they are using automated self-service channels, instant messaging chatbots and sentiment analysis to deliver highly personalised experiences to strengthen ties with their customers.

Almost 90 per cent of global organisations reported faster complaint resolution using AI, while more than 80 per cent said AI enhances call volume processing.

“While investments in AI are primarily driven by efforts to improve efficiency, technology’s ability to help companies understand and connect with their customers in more meaningful ways cannot be understated,” said Merijn te Booij, chief marketing officer, Genesys.

For example, 84 per cent of APAC respondents said that they believe customers feel closer to their organisations as a direct result of their efforts to improve customer experience.

Finally, 45 per cent of global respondents — and more than 75 per cent of customer experience leaders — reported that AI assists them in understanding differences between the brand attributes perceived within the organisation and what customers really think about the company.

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