Artificial intelligence (AI) is not only popular in headlines these days – there are also an increasing number of published research papers on subjects pertaining to AI, making it an all-round hot topic. Although there is a lot of hype and anticipation about forthcoming implications, there still aren’t many everyday AI business solutions in use. What if changes were made now to apply the current technology in a smarter way?
Natural language processing (NLP) is not a new topic; however, recent advancements in AI, applied to machine learning in NLP, have not only improved accuracy but also made NLP more cost-effective. In fact, nowadays, almost any company can start utilising text analysis to at least some extent.
Let’s consider the implications and benefits in relation to customer experience. AI with NLP can contribute in three ways:
(1) Customer insight
(3) New services
By utilising text analytics, companies have the ability to analyse unstructured data sources, such as customer surveys and social media. This data can then be combined with existing data to provide even deeper customer insight. Text analytics brings efficiency to analysis work, but it can also be applied to something like message routing, where it would eliminate the need to perform manual tasks.
Alongside AI’s value in contributing positive benefits to customer insight and efficiency, another huge opportunity is in utilising AI with NLP for the development of totally new products.