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Ready, Set, Go! The Race is on to Capitalize on Generative AI in the Contact Center

  • Report

  • 41 Pages
  • November 2023
  • Region: Global
  • Frost & Sullivan
  • ID: 5910571

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.

Table of Contents

1. Strategic Imperatives
  • Why Is It Increasingly Difficult to Grow?
  • The Strategic Imperative 8
  • Impact of the Top 3 Strategic Imperatives on Generative AI (GenAI) for Customer Experience (CX)
  • Growth Opportunities Fuel the Growth Pipeline Engine
2. CX Context for Generative AI Background
  • GenAI Background
  • Traditional AI vs. GenAI for CX
  • GenAI for CX
3. Growth Environment: GenAI Foundation
  • Foundation of GenAI
  • Foundational Model Options for GenAI
  • Foundational Model Use Options: Prompt Tuning
  • Foundational Model Use Options: Fine-tuning
  • Foundational Model Use Options: Custom Models
  • Foundational Model Option Factors
  • Ethical AI Principles Emerging as a Core Aspect of AI Technology Implementation
4. Growth Environment: Key GenAI Applications for CX
  • GenAI CX Application Evolution
  • CX/Contact Center GenAI-infused Applications
  • Evolution of GenAI for CX: What’s Next?
  • The Growing GenAI for CX Ecosystem
5. Growth Opportunity Analysis
  • Growth Drivers
  • Growth Restraints
6. Growth Opportunity Universe
  • Growth Opportunity 1: Advanced Analytics
  • Growth Opportunity 2: KM Performance
  • Growth Opportunity 3: Language Translation at Scale
  • List of Exhibits
  • Legal Disclaimer