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Enhancing European Customer Experience with Artificial Intelligence

  • Report
  • 70 Pages
  • January 2021
  • Region: Europe
  • Frost & Sullivan
  • ID: 5263881

AI Technologies Offer New Opportunities to Nurture Relationships and Enhance Customer Contact Effectiveness

This study focuses on how AI is making inroads into the customer experience (CX) space. After shifting from on-premises solutions to cloud-based services, the industry is embracing AI and integrating it into various CX-related use cases and solutions. Chatbots, voicebots, behavioral applications, biometrics, cybersecurity, speech recognition, machine translation, and automated models for scheduling and forecasting within workforce management are among the many AI-powered functionalities in the CX space.

AI-powered solutions enable time and cost savings, smarter customer services, efficient CX management, and the generation of actionable insights that facilitate decision-making for businesses. It is transforming CX as we know it and has become vital in enhancing product and service quality and driving competitive business differentiation.

The application of AI-powered tools in contact centers is complementing rather than replacing employees. AI improves agent performance by providing seamless, ideal-match routing, with full historical awareness and real-time context to drive recommendations. The increasing industry focus on agent experience (AX) and the growing need to create automated and secure workplaces and contact center environments are becoming the main drivers for creating new AI-powered solutions.

The analyst expects a sharp growth in AI-based capabilities and apps assisting consumers and agents over the next few years. Advances in AI, mobile bandwidth, and cloud communications will lead to new AI use cases in the CX space in emerging areas such as biometrics, drone deliveries, and automated vehicles.

AI is the secret ingredient for CX transformation, but there's much confusion around AI and its real value. Decision-makers need information on AI and its use cases to fully understand its power in positively transforming business operations and identifying emerging growth opportunities. 

Table of Contents

1. Strategic Imperatives
  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
  • The Impact of the Top Three Strategic Imperatives on Artificial Intelligence (AI) in the CX Space
  • Growth Opportunities Fuel the Growth Pipeline Engine™

2. Growth Opportunity Analysis
  • Definitions
  • Why AI is a Game Changer
  • Major Trends Affecting the Future of AI
  • AI Information Flow Process
  • Growth Drivers and Restraints for AI in the European CX space
  • Branches of AI - NLP
  • Branches of AI - ML and Predictive Analytics
  • Branches of AI - DL and Neural Networks
  • Branches of AI - CV
  • Branches of AI - Intelligent Agent (IA)
  • European CX Market State
  • Top Business Priorities
  • Top Reasons for Investing in AI
  • Top Concerns with AI
  • AI Applications Share by Developer Type
  • Future AI Implementation by Sector
  • Top AI Use Cases by Sector
  • AI Implementation Stage
  • Infusion of AI in CX
  • AI Effects in CX
  • How AI Enhances CX
  • Key Takeaways From the European AI Market
  • European Enterprise AI Ecosystem

3. Growth Opportunity Universe
  • Growth Opportunity 1 - Voicebots
  • Growth Opportunity 2 - Chatbots
  • Growth Opportunity 3 - Intelligent Virtual Assistants
  • Growth Opportunity 4 - Sentiment Analysis
  • Growth Opportunity 5 - AI Biometrics
  • Growth Opportunity 5 - Visual Recognition
  • Growth Opportunity 6 - Smart WFO/WFM
  • Growth Opportunity 7 - Predictive Analytics
  • Growth Opportunity 8 - AI-Assisted Payment Systems
  • Growth Opportunity 9 - Cybersecurity
  • Growth Opportunity 10 - Machine Translation
  • Growth Opportunity 11 - Market Analysis and Personalized Experience
  • Growth Opportunity 12 - Workflow Automation
  • The Last Word
  • List of Exhibits