By RG Conlee
It’s an exciting time. The world of automation is growing quickly and I am thrilled to be a part of it. As you may already know, true robotic process automation (RPA) is rules-based, and involves training the bots to recognize structured data and respond accordingly within the workflow solution.
Machine learning takes this to the next level, by working with unstructured data to provide solutions, within certain parameters, that it has been trained to recognize. The software analyzes data and learns from the ways in which humans complete a process or solve a problem. Over time, it develops the intelligence to understand and solve issues itself without having to be programmed.
Where can you best implement machine learning in your organization? Customer service is a prime example. In today’s digital world, consumers want answers quickly, and from every viable outlet available to them. Whether it be via contact center, live chat platform or mobile application, around-the-clock support is a must-have. Machine learning-based virtual agents allow us to offer exceptional self-service – while reducing costs
Take a look at this CIO.com article about how Atom Bank (an app-only bank) uses our advanced cognitive self-care platform.
As the virtual agent guides the consumer through the process of identifying and solving their request quickly and accurately, it is continually learning through these real-time interactions. This not only improves the accuracy of its responses, but also instantly highlights new issues that can be addressed quickly. Because both customers and customer service representatives use the virtual agent, it ensures consistency in the quality of service for your customers, regardless of how they contact you. Your customers receive the answers they need, when and where they want them.
In addition, your brand values and identity are maintained, which ensures a consistent customer experience. The virtual agent can be taught to interact with your customers in a tone and manner that best suits your brand. This delivers a more personalized experience to your customer.
Exciting stuff! The opportunity for machine learning is so great that Gartner predicts that “By 2020, smart machines will be a top five investment priority for more than 30% of CIOs.”* And, machine learning can be implemented in any industry, because it can learn about any topic, including healthcare, telecom, insurance or finance. The world of automation and analytics is indeed evolving rapidly, as are the possibilities within every industry.
I will look at another financial services industry process in my next article.
*Gartner, Predicts 2016: Smart Machines, 04 December 2015