Customer service is an integral part of any business. However, the role is changing and will continue to do so over the next five years. We discuss this in the article below.
It is no secret that businesses must adapt or fail. While products and services are at the forefront, customer service can be overlooked. As a huge part of your brand, you need it to be exceptional, delivering an excellent, modern service 24 hours a day. So what changes can you expect over the next five years?
Smart Contracts
Smart contracts use blockchain technology. They are a store of immutable data that is kept on a decentralized ledger. Once certain criteria are fulfilled, the contract can be executed with increased security and speed. Both of these are a great boost to customer service.
Certain countries, like Nigeria, have already started to adopt this. In a bid to curb land fraud and deal with a backlog in registries, they are turning to smart contracts. However, in the West, blockchain technology still needs mainstream adoption. There are a few reasons it has not been wholly incorporated, mainly because of the initial setup and that most people associate the blockchain with cryptocurrencies, as opposed to practical applications such as this.
When you consider cryptocurrency and Bitcoin price trends, they fluctuate massively. Today, Bitcoin has reached 82,546.16 after weeks of great upheaval. This has primarily been down to uncertainty over a Bitcoin strategic reserve in the US and other macroeconomic trends. However, even this discussion points to one thing: Further institutional adoption.
If cryptocurrencies and the wider blockchain with its technological possibilities are incorporated into everyday use like customer service, along with financial bodies, it means the long-term value is only going to rise. This adoption will benefit both sectors.
The process would work as such: Imagine you are buying a house in a mortgage chain. There are numerous people involved, such as brokers, buyers, sellers, banks, and property conveyancers. Each has to pass information to the next. With a blockchain, when certain criteria are met such as bank approval or the provisions of documents, other criteria occur, like funds being released. This massively speeds up the process.
Increase in AI Customer Support
Generative AI has become integral to customer service over the past few years. It has numerous advantages for customers, companies, and their brands. This improvement has been most evident in the use of chatbots. Where once, they simply directed people to the relevant place to answer a query, they are now capable of solving issues themselves.
The volume of requests they can take has increased, as has the amount of lower-level tasks they can deal with. This frees up agencies to deal with more complex issues. All of this adds to the main appeal that they have always had, which is the ability to provide 24-hour customer service.
Their ability to analyze data has also been a huge benefit. AI can provide personalized recommendations, enhancing the customer experience. By diving into feedback, they can look at areas for improvement. In some instances, AI is also able to look at possible upcoming issues using proactive maintenance, preventing issues and downtime before they occur.
A Change in Customer Service Roles
Customer service roles within organizations are changing drastically. Where once, people in teams were worried about AI replacing them, they now see the benefit it can bring to job roles. It is estimated that around 60% of people in customer service are seeing job roles evolve, for the better.
Generally, this focuses on humans solving greater and more complex problems. AI can now do the day-to-day, low-level work that is often not mentally stimulating. This can improve worker satisfaction, but only if this is implemented properly.
The correct implementation often requires the retraining of staff or an improvement of their skills. It may involve looking at specific areas, such as AI and knowledge management or conversions. Part of this will require making clear pathways for progression in this field, with roles that involve AI management with traditional skills.
A Renewed Focus On Privacy and Data
Data privacy and protection have been increasing in importance. This shows no sign of slowing down, with more threats than ever. Not only can data leaks be costly, they can damage a company’s reputation beyond repair.
This is going to mean renewed focus from businesses, who must prove they safeguard data at every point of the customer service journey. This could take the form of training staff on how to handle data and the correct protocol. This will involve data consent procedures.
However, with further implementation of AI, it is not just the role of the human representative. Organizations must be safeguarded digitally, through their IT departments. This can involve the installation of verification processes and the provision of training on methods of fraud, such as phishing attacks.
Customer service is getting tougher. Consumers demand more, and they want it quicker than ever. AI and technology are one way to deliver this, ensuring you at at the forefront of change.