Welcome to the Juice! Sometimes, it's important to get out of our bubble and see how AI is impacting other industries. This thought exercise can help us build a broader perspective for our own CX work.

AI Spotlight

I’m a big fan of Shark Tank, so of course I saw that investor Barbara Corcoran posted on LinkedIn discussing whether real estate brokers will be replaced by AI. She believes that AI will empower brokers, not replace them.


Here’s my take:

AI is moving so much more rapidly than other tech inflection points

Barbara says in her post that she’s seen innovations like the internet that posed new challenges to the real estate industry, and that AI will be just like those - they’ll change the game, but as she says, agents should “fear not” about being overtaken.

I have a different take - AI is disrupting the industry so much more rapidly than any of those. Just a few years ago I was using AI for simple suggestions about what to say in an email. Now, I’m using AI to execute much more complex matters. It can accomplish complete tasks, and much better than just a short time ago. (Case in point: the latest
ChatGPT Advanced Voice update).


We’re the guinea pigs in the customer service industry, and we’re seeing new AI updates on a weekly basis.

Here’s how
CX leaders can set yourself up for success amidst it all:

1. AI needs a strong foundation

If you want to use AI at all in your business, you need structured and centralized data, so that the AI has an updated knowledge base where it can pull accurate information about your product or service.

Ops leaders need to invest in that area of the business now to have a solid data foundation to build from. Once you do, you’ll feel more comfortable because you can see the security for yourself. From there you can more effectively build AI into your workflows.

2. Support Agents need to know how to harness AI

Customers who want to talk to a human agent can still have a better customer experience thanks to AI; pre- and post-sales support agents can use AI to deliver an even deeper level of service.

In the travel industry, for example, travelers often benefit from an agent with a deep knowledge of the local area, transportation options, accommodations, weather, activities, and more. Consumers booking something like travel want the reassurance and the empathy from a human agent who can relate to the experience planning a trip. The human agent is invested in the transaction in a way AI will never be.

That’s why AI may not replace a specific agent (customer service, real estate, or otherwise). However, agents may find themselves needing to be educated about AI to keep up with those who use it to be even more effective. Leaders need to figure out how to use it in your team’s workflow now.

3. Consider what your customers want

Ultimately, the most important thing for any business is to provide a great experience to its customers. For some businesses, especially those with sensitive or complex offerings (like real estate brokerages), customers may want and need the guidance of a human to aid the purchase process.

If this is the case for your business, I’d recommend you explore how to use AI more internally to guide your customer-facing team members and help them solve complex matters faster.

CX Spotlight

Each week there’s a new headline about a company incorporating AI into their offerings, and this time it’s Oracle. Their latest announcement is adding AI to their cloud service products with the stated goal of automating customer service.

A VP from Oracle said that customer service representative wages have gone up 30%, but companies are still struggling to staff call centers because of lack of demand for the job. In turn, Oracle is turning to AI to meet business needs, going all in on automation.

You and I both know customer service can be a hard job to do - it requires emotional resilience for the tough customers and a tolerance for the repetitive tickets. But humans still want to talk to humans, especially for complex or sensitive matters.

Oracle is clearly all in on automation, but I think there’s a better way forward. AI can make strides in making customer service a more rewarding job if it can help agents resolve issues and deliver good service, especially if AI-powered tools can mitigate a lot of the challenging issues that customers reach out about. It’s a win-win for consumers and businesses.

Interview Insights from the Former Chief Research Officer at G2

I sat down with Michael
Fauscette, CEO of Arion Research and former Chief Research Officer at G2. We dug into the evolving landscape of AI, particularly focusing on autonomous agents and their implications for customer service.

He shed some light on how AI is officially everywhere. Small businesses are incorporating it to gain productivity today. Larger companies are utilizing AI to decrease costs. Usually with most technology, it starts in one area - but it’s super interesting to see the entire industry and all brands start embracing AI.

Here are some takeaways from Michael as you start embracing your AI journey:

• People are having positive experiences with AI agents and the benefits it provides early on. We're starting to see some good experiences well beyond what a chatbot can do.
  

• Build human in the loop models to make sure humans are involved with complex decision making - don’t delegate it all to AI.

• Companies should always disclose when a customer is interacting with AI vs a human, ensuring trust remains at the heart of the customer experience.

It’s clear - AI customer service is getting more and more widely accepted, even from people who didn’t want it. Now, it’s just a matter of applying it in the way that works best for your business.

It was a really great conversation with an industry innovator. Check out the full interview here.

Golden Nuggets

Here’s the latest:

• ‘Godfather of AI’ notches Nobel Prize Win
• Lorikeet, an AI customer service platform, comes out of stealth with $5 million in seed funding
• HubSpot Introduces App Cards to End “Tab-Hopping” & “Context Switching”
• Is Channel Snobbery Holding Back Brands’ Customer Experience Efforts?
• How to Train Seasonal Employees for Exceptional Customer Service