Contact Centers have already been the focal point of rapid automation, and the COVID-19 pandemic has only accelerated this transformation. The pace at which Conversational AI is developing has us wondering about the multi-fold benefits it brings to the table across functions.
As per a Research And Markets report, the global market for AI technologies in contact centers is set to grow at a CAGR of 22.6% for the forecast year 2019-2024. And given the popularity of voice-based search and virtual customer assistants, it is only a matter of time when AI voice bots become the new normal.
Limitations of Interactive Voice Response (IVR)
Before getting into the rise and popularity of voice bots driven by AI, let’s examine the saturation point that IVR systems have hit, which has limited their potential. Here is a quick round-up:
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- Limited input mechanism
- Impersonal and mechanized way to address queries
- Long menus with irrelevant options
- Scripts can be too long or unnecessarily detailed
- Evokes frustration
- Limited scalability