Similar to any type of newer technology, AI comes with risks to businesses and any end-users, including customers. That makes it vital for businesses to take responsibility for using AI to ensure a positive, secure, and streamlined experience for everyone. Most importantly, for customers who put their faith in the business and its use of AI.
Do you know what types of policies to put in place to tighten your AI usage? Our team has done some investigating to find ways to help you tighten your AI policies to protect, enhance, and streamline your customer experience.
Why Is Focusing on Customer Experience So Important?
Focusing on the customer experience is so important because it has become the equivalent to understanding who your customers are. It allows you to gain insights into their needs, motivations, and pain points to develop a marketing strategy that offers them a personalized experience that resonates with them.
With this strategy, you can gain deeper insights and higher success in the marketplace, earning your customers’ trust and edging out the competition.
What Are the Primary Roles of AI in the Customer Experience?
AI and data continue to improve the relationship between businesses and their customers.
Here are a few ways businesses rely on AI to improve customer relationships and streamline the customer experience in varying ways:
- Get to know the customer. Through real-time data accumulation and analysis, businesses can get to know customers on a deeper level.
- Streamlines the customer experience. AI adds simplicity and efficiency to business processes that trickle down to the customer. Think of technologies like chatbots, making it easier for customers to get answers to questions in an instant rather than waiting in a telephone queue. It cuts down the time for these tasks in half, letting customers move on with their day with answers in hand.
- Better and faster decision-making. With the accumulation and analysis of so much data, AI allows for better decision-making processes. AI technology helps businesses look into the interaction history between customers and the business, making it easier for businesses to consider current market trends and predict future outcomes.
- Fraud detection. One area where AI has become invaluable is fraud detection in financial areas respective to the customer service experience. As a store or other online business gathers and stores data, AI also compares user data in real time. This activity makes it easy to identify changes in user actions, making it an ideal preventive measure against fraudulent activity.
- Visual, text, and voice activity and engagement. AI platforms also work to deliver improved customer service based on users’ voices and facial expressions. This AI technology uses facial recognition and virtual assistants to get to know users’ emotions, sentiments, and responses in real time and according to real stimuli. With these developments, chatbots and other electronic interactions become more useful and helpful to users and businesses.
The list of benefits of using AI goes on, but there is also a need to develop policies to ensure these benefits are accomplished with proper ethics and responsibility.
3 Ways Businesses Are Tightening AI Policies — and How You Can Do It Too
At the global and national scale, researchers, scientists, and lawmakers work to create and tighten AI policies to ensure a secure and streamlined experience for businesses adopting AI and their customers.
Here are three ways businesses are tightening AI policies:
1. Enabling AI Research and Development Without Overstepping Boundaries
While there are many opportunities to study beneficial AI, some have the possibility to go beyond what is necessary, effective, and in some cases, safe. It’s important for businesses to stay within the scope of what is needed to ensure positive outcomes.
It’s also important to ensure the availability of high-quality and standardized data sets and find and hire the right professionals who obtain the right combination of skills to build relevant, reliable, and high-quality products based on research and development (R&D).
Businesses are approaching these issues by:
- Updating education programs to include training that focuses on building safe and beneficial systems
- Enabling the right conditions for R&D to flourish, including government support and safe work environments
- Allowing for AI research to create beneficial intelligence
2. Ethics and Societal Principles
All AI developments should keep ethics and societal principles in mind. AI should be developed in ways and for purposes focused on serving the global social and environmental good.
The ultimate goal should always be to build more fair and equal societies to serve the population. Businesses can do this at their respective level to ensure that everyone is working toward this goal. If everyone works on it within their own business, the sooner it can be recognized and adopted by everyone in the business sector and beyond.
3. The Information Technology Industry (ITI) AI Policy Principles
The Information Technology Industry (ITI) AI policy principles focus on a few different areas to ensure a streamlined customer experience.
- Increased investment in AI R&D. This policy focuses on the ongoing encouragement of support for R&D to provide and foster innovation via incentives and funding. Areas where funding is most needed include cybersecurity, data analytics, fraud detection, robotics, natural language processing, human augmentation, and more.
- Best practices and global standards. Best practices and global standards set the foundation in most areas of business and technology, and AI is no exception. It is crucial to develop and maintain these practices and standards for industry-led, consensus-based standards and practices for collaboration in R&D activities, acceleration of adoption, promotion of competition, and enablement of cost-effective AI technology introduction to the marketplace.
- Science, technology, engineering, and math (STEM) education. The need for STEM workers is greater than ever. STEM policies focus on inviting new talent and training existing talent to achieve a greater understanding of AI and its value to all aspects of life, including helping businesses grow and improve the customer experience.
Do You Need More Ideas to Streamline Your Customers’ Experience Using AI?
At Baufest, our goal is to solve business issues and enable business opportunities through the latest AI advancements, resulting in a positive impact on your business. But we know these advancements come with risks, especially without proper policies in place to protect everyone, including your business and customers.
Contact us to book a discovery call to learn how we use AI to help our clients and their customers and how we can do the same for you.