Despite the accelerating pace of Generative and Conversational AI innovation disrupting contact centers, today’s customer experience (CX) agents are under the same pressure points as always – business performance pressures from one side and demanding customer expectations from the other.

The world has had its share of crises in the last few years from a health pandemic, political tensions, climate change, humanitarian risks, economic downturns, to technological disruptions and demands. As with any crisis, those who embrace it as an opportunity emerge as leaders. In tech, the rise of Generative AI and launch of ChatGPT disrupted the industry overnight, accelerating digital transformation investments and the adoption of Conversational AI.

Even Fintech companies are not immune to financial crises. In the last few weeks, we’ve seen banking systems collapse with yet another rise in interest rates by the Fed. Global financial regulators agree that the banking system is secure, healthy and flowing with cash. However, while that may be so, all that borrowing and decrease in consumer confidence shows just how much strain is on the financial system – and fintech customer experiences.

Generative AI and the hype of ChatGPT changed the tech industry overnight raising concerns over the role of social responsibility in AI. We need to welcome AI into the workforce in a brand-safe way where enterprises, employees, and consumers feel safe using it. At Netomi, we invented Sanctioned AI to do exactly that – a powerful combination of generative tech and LLMs that allow brands to respond to more customer queries, while preserving brand safety and customer experience.

Customer service (CS) platforms have been adopting conversational AI at incredible rates as consumers expect a higher quality customer experience. Many of these platforms are rushing to break into the market and boost sales but are making some basic mistakes in the process. The focus for newly emerging technologies has been predominantly on user interface (UI) and aesthetics rather than functionality and performance.

From product recommendations to one-on-one personal shopping and customer support to order management, the use cases for ecommerce chatbot solutions are endless. This is why the eCommerce industry was one of the first industries to embrace chatbots and conversational AI virtual assistants, and why it’s more important than ever for companies in this industry to deploy the best eCommerce chatbots to assist their customers.

Chatbots are used by 1.4 billion people today. Companies are launching their best AI chatbots to carry on 1:1 conversations with customers and employees. AI powered chatbots are also capable of automating various tasks, including sales and marketing, customer service, and administrative and operational tasks.