Three strategic gen AI initiatives to optimize customer experiences

By:Samit Banerjee, Division President, Customer Services Unit, Amdocs May 30, 2024

Collected at : https://www.rcrwireless.com/20240530/ai-ml/three-strategic-gen-ai-initiatives-to-optimize-customer-experiences-reader-forum

Picture a future where your telecommunications company doesn’t just keep pace with your expectations — it anticipates and exceeds them at every turn. With the onset of generative AI (gen AI), this scenario is becoming a reality, building change for communications service providers (CSPs) worldwide. However, as always, there are issues that need to be addressed before this hypothetical comes to life.

Recent findings from a study by Amdocs and Analysys Mason underline a critical truth: While 90% of CSPs recognize the transformative potential of gen AI, only a fraction have fully embraced its capabilities. With just 22% having implemented gen AI solutions, the time is ripe for a seismic shift in the industry’s approach to improving customer experiences.

Embracing the gen AI revolution

Gen AI isn’t just a buzzword anymore; it’s a true force for change, especially within the telecommunications sector. As CSPs evolve from traditional telcos to dynamic tech companies, gen AI has emerged as a linchpin for driving this evolution. Its impact is already reverberating across multiple facets of CSP operations, from enhancing network efficiency and bolstering security to streamlining business operations.

CSPs are expecting these benefits, too. The same study found that generating new enterprise revenue (51%) and reducing time to market (40%) were leading use cases, followed by improved employee productivity (39%), new consumer revenue opportunities (35%), and improved customer experience (34%).

Customer experience is the notable mention here. The telecommunications industry is infamous for its difficulties in meeting customer expectations – coming in with one of the lowest average net promoter scores (NPS) of all industries. As consumers are somewhat limited in their options, this isn’t necessarily holding CSPs back from getting customers. However, as competition heats up in the industry, retaining and attracting customers is what will set them apart.

Redefining customer touchpoints

In today’s increasingly competitive landscape, delivering exceptional customer experiences isn’t just a “nice to have” — it’s table stakes. CSPs must pivot towards proactive, personalized engagements that resonate with digitally savvy consumers. Gen AI has proven to be a game-changer, promising faster, more nuanced interactions that deepen engagement and foster loyalty.

With this in mind, here are some key areas primed for GenAI optimization in helping CSPs improve interactions with their customers:

Smarter payment assistance: Monthly bills shouldn’t be a source of frustration for customers — and with the help of gen AI, they don’t have to be. By harnessing customer data, gen AI powers a self-service interface that tackles bill-related queries head-on. Customers can ask questions in natural language, receiving relevant, personalized responses and actionable insights. The result? Reduced call volumes, shorter wait times, and increased customer satisfaction.

Elevated customer interactions: Current CSP systems often fall short in capturing the granular details of customer interactions. With the help of gen AI, however, CSPs can summarize these interactions, enriching customer profiles, and empowering customer service representatives with valuable insights. Whether at the individual or aggregate level, GenAI equips CSPs with the tools to deliver tailored support and anticipate customer needs.

Personalized content generation: With gen AI, content creation and marketing can become streamlined processes geared toward individual preferences. By automating content creation and tailoring messages to specific demographics, CSPs can drive engagement and satisfaction to new heights. Offering personalized communications based on usage, needs, and more is quickly turning the one-size-fits-all approach into a relic.

Not all gen AI is created equal

In the communications industry, consumer-available gen AI falls short of meeting the needs of CSPs. Although GenAI draws from a broad range of web data, it lacks access to telecom-specific information within the technology ecosystem. This gap can be addressed through partnerships and technology ecosystems, which must be the first step to consider when starting a GenAI journey.

To fully capitalize on gen AI’s potential, CSPs need robust platforms tailored to their unique needs. These platforms will not only drive revenue opportunities but also enhance productivity and elevate user experiences across the board. The era of generic and frustrating interactions is over — with gen AI, the future of telecommunications is personalized, proactive, and poised for unparalleled growth.