Generative AI s Impact on CX Includes Increased Competitive Intensity and Transformational Growth
Generative AI (GenAI) has garnered huge interest and holds great promise for optimizing business operations by automating routine tasks, streamlining workflows, and providing intelligent insights that improve efficiency, quality, and performance.
Ongoing innovation in artificial intelligence (AI) has introduced GenAI with far-reaching implications across all businesses and industries. GenAI relies on machine learning foundational models to generate new data, including text, images, audio, video, and even programming code. By learning patterns from existing datasets, these models have showcased remarkable natural language understanding (NLU) capability, adding a “humanization” element to AI.
Specific to customer experience (CX) and contact centers, the impact of GenAI is growing quickly. Its transformative nature can be expressed as next-generation AI for the contact center, building upon first-generation AI applications, including intelligent virtual agents, personalization, and advanced analytics. The incremental value derived from GenAI for CX and contact centers is substantial. GenAI is a relatively new technology and is evolving rapidly. The contact center ecosystem is actively injecting it into technology stacks, with a relative GenAI “arms race” well underway.
As GenAI begins to take hold in the CX industry, this study dives deep into its contact center applications and the growth opportunities the technology enables today.
