How AI enhances speech analytics
Read to discover how AI-driven speech analytics delivers real-time insights, emotion detection, and predictive intelligence to transform contact cente...
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The Team at CallMiner
March 20, 2024
2024 marks a significant year for the tech industry, as it navigates through economic turbulence and a shift from aggressive growth to sustainable development. A pivotal aspect of this shift is the enhanced focus on customer experience (CX), now a cornerstone of business success.
We cover some of the top trends shaping CX in tech and the role of AI in harnessing these opportunities in our latest whitepaper. Here’s a sneak peek at the trends covered in the report.
Following the economic slump of 2022-2023, the tech sector is witnessing a cautious rebound. The downturn saw a decline in tech IPOs and M&A activity, coupled with significant job cuts. As a result, many teams have pivoted towards valuing customer retention and expansion, in addition to (and sometimes even more than) acquiring new customers. Understanding and acting on customer feedback (both solicited and unsolicited) is crucial for maintaining customer satisfaction and loyalty.
Despite being adept at collecting customer interaction data, the tech sector struggles to effectively utilize this information. According to the 2023 CallMiner CX Landscape Report, 72% of organizations admit to not fully leveraging CX data to their best advantage. The challenge lies in bridging the gap between data collection and its application toward enhancing business and customer outcomes. There's a pressing need for better cross-functional collaboration and utilization of CX insights for decision-making in 2024.
The tech sector leads other sectors surveyed in the CX Landscape Report when it comes to using automated processes to analyze CX data (72% say their processes are mostly automated). Yet, the focus is shifting from mere adoption to effective implementation of AI and automation. While AI has proven beneficial under financial constraints to help teams do more with less, there's room for improvement in understanding and utilizing AI technology. Opting for the right AI solution — one that is specifically designed for analyzing CX data — is critical.
The post-pandemic era and economic uncertainties have led to complex customer scenarios, including increased customer vulnerability and impatience. AI can aid in identifying and supporting vulnerable customers — helping teams effectively understand customer emotions, as well as providing real-time guidance to support frontline customer support agents.
There's a strong link between employee experience (EX) and CX — 99% of tech organizations surveyed agree that CX data is important EX. Engaging frontline workers and integrating their feedback into CX strategies is essential. Implementing AI-driven real-time guidance and data-driven coaching can enhance the efficiency and morale of customer-facing teams.
In 2024, AI-driven solutions like conversation intelligence can become a critical partner in enhancing CX in the tech sector. As companies navigate through these trends and more, the effective use of AI will be a differentiator in achieving sustainable growth and customer satisfaction.
Whether teams use conversation intelligence to automate quality assurance, streamline workflows, or provide actionable coaching insights — this technology enables better understanding and response to customers, driving both customer and business value. Many teams will find that AI offers a pathway to better cater to customer needs, while optimizing internal operations. The journey towards AI maturity will be key in achieving a truly customer-centric organization.
CallMiner is the global leader in AI-powered conversation intelligence and customer experience (CX) automation. Our platform captures and analyzes 100% of omnichannel customer interactions delivering the insights organizations need to improve CX, enhance agent performance, and drive automation at scale. By combining advanced AI, industry-leading analytics, and real-time conversation intelligence, we empower organizations to uncover customer needs, optimize processes, and automate workflows and interactions. The result: higher customer satisfaction, reduced operational costs, and faster, data-driven decisions. Trusted by leading brands in technology, media & telecom, retail, manufacturing, financial services, healthcare, and travel & hospitality, we help organizations transform customer insights into action.