Best-in-class customer service organisations are increasingly using AI as a competitive differentiator, especially as they face economic uncertainty and rising costs. Cost savings are just one benefit of AI in customer service. A recent report from Gartner, 3 Ways AI Benefits Customer Service Organisations,* explains how customer service organisations can use AI to move beyond cutting costs to adding value.
During Freshworks’ Q2 ’23 Launch Event on June 22, we unveiled new product features that can bring the power of generative AI to businesses of any size. Access to AI is necessary for these new tools to have lasting business impact. The market for generative AI is expected to reach $36 billion by 2028, a tenfold jump in five years. “AI is just not a buzzword anymore,” Freshworks founder and CEO Girish Mathrubootham explained to Diginomica.
The money in our wallets doesn’t go as far as it used to. Prices are increasing—the cost of low fat milk was around forty five per cent cheaper in December 2021 than today. Meanwhile, the phenomenon of ‘shrinkflation’, a form of hidden inflation, means we’re all paying more and getting less in return. Companies across the board, from small independent businesses right up to the biggest retailers in the country, are finding it hard too.
The world is changing and customer experience is shifting alongside. Advances in technology, combined with new and ongoing business challenges, put us all under pressure to continue to evolve, improve and do more for our customers. Many businesses have managed through supply chain disruptions, rising costs and the ongoing shift into the digital landscape – all while under a cloud layer of ongoing economic uncertainty. Companies are faced with tightening margins and cutting costs.
