Unlearning something in order to learn a new way of pressing forward is difficult in the best of circumstances. In our current generative AI/ChatGPT era, the biggest takeaway we had from TSIA World was that what you know can hurt you.
AI is no longer just another buzzword; it’s going to force us to rethink the entire customer experience journey. And while this journey will differ by business and vertical, there’s one thing that will remain constant: the need for consistency throughout the entire experience.
The tech companies that will win won’t be ones that sell hardware, software, or services. They’ll be the ones that deliver business outcomes. Is AI essential to achieving this? Here at Coveo, we think the answer is a resounding yes.
But to stay on theme, it won’t be AI alone. Talks at the conference transcended the technology itself, discussing what businesses needed along with these advanced tools.
Practical Applications of GenAI: Real-World Examples
When it comes to deployments, enterprises are faced with not just pressure to implement AI but also to do so in a way that achieves cost reduction. It’s paramount to not just achieve productivity improvements, but to do so with less headcount.
TSIA was a playground of operationalized GenAI, with members showcasing how they’ve moved from theoretical to practical, deploying and testing GenAI across various domains. Here are a few standout applications:
- Moody: Leveraged GenAI for sentiment analysis in meeting notes.
- Outcomes: Significant time savings per client meeting, improved retention rates, and a noticeable boost in Net Promoter Score (NPS).
- Cisco and Forethought: Introduced AI copilots/assistants to guide customer interactions.
- Outcomes: Accelerated resolution times with targeted action recommendations.
- SAP and OpenText: Focused on content curation and production.
- Outcomes: Achieved scalable content production and enhanced customer satisfaction (CSAT) rates.
- PROS and RocketLane: Implemented GenAI within professional services to refine client engagements.
- Outcomes: Enhanced overall client experience and shortened time-to-value.
These examples not only demonstrated GenAI’s flexibility across different industries but also highlighted its impact on streamlining operations and enhancing customer interactions.
Looking for practical advice you can apply to your enterprise? Check out our blueprint, featuring learnings experienced by our customers in our design partner program that led to the creation of Coveo’s Relevance Generative Answering product!
Beyond Technology: The Emerging Themes
As said at the top, discussions at the event also addressed vital aspects of implementing AI beyond the core technology:
- Auditability: Emphasized the importance of transparency in AI processes to enable continuous improvement. For example, the ability to track and record queries and prompts allows your company to generate answers in a responsible and ethical manner. This shouldn’t be considered merely an application feature – consider it from a security or risk mitigation point of view. Let’s say you add generative AI to your self-service portal, and a customer complains that an answer caused them to break their product. You must be able to audit the large language model’s responses to take appropriate actions.
- Governance: Discussed best practices in knowledge management (KM) governance to optimize GenAI deployment. It’s a common saying in the service industry that your service is only as good as your knowledge — and the same goes for the responses your generative solution can provide. Having a well-curated and organized information set to pull from exponentially expands how your LLM can service your customers. By grounding your LLM in the context of your enterprise knowledge, you not only ensure accuracy and security, but also protection from hallucinations.
- KM Workflow Integration: Explored how GenAI is becoming integral to the workflows of knowledge managers across various sectors, including support, professional services, and product documentation. Generative solutions can give knowledge managers a head start by not only checking to see if a knowledge article already exists, but also generate a first draft directly from a customer conversation. This ability combined with a knowledge manager’s expertise streamlines the creation of new and update of existing articles.
These discussions underscored a holistic approach to implementing AI in the enterprise, emphasizing the need for robust frameworks to support its integration into daily business practices.
Demonstrating ROI with GenAI: Coveo’s Insight
At the Coveo session, we strove to showcase how our platform helps customers achieve operationalized GenAI outcomes. For those who were able to attend in person, we hope it provided a clear framework for understanding the ROI of GenAI in self-service applications.
We shared the following methodologies and real-life case studies:
- Xero: Improved self-service resolution by 20%. Learn more about their success.
- Customer Zero, aka Coveo: Saw a 42% increase in weekly visits through enhanced search functionalities.
- A Large Software Company: Reported a 21% rise in implicit case deflection.
These outcomes illustrate how GenAI can directly contribute to operational efficiencies and customer satisfaction. If you missed the talk and still want to learn more, please reach out to talk with one of our AI search experts.
AI as a Business Catalyst
To quote JB Wood of TSIA, “we are about to go on a wild ride, and nobody knows how it’s going to pan out.”
AI is here to stay; TSIA Orlando 2024 is just one example of how this technology’s role as a business catalyst has been solidified. From enhancing customer experiences to refining internal processes, the potential of AI to drive significant business outcomes is now clearer than ever.
As companies continue to explore and expand their AI capabilities, the focus will likely shift further towards strategic implementation and maximization of these technologies to solve real-world business challenges.
For any business leader or IT professional looking to stay ahead in a rapidly evolving digital landscape, embracing AI not just as a tool, but as a strategic partner, will be key to unlocking new levels of efficiency and innovation.
Interested in learning more about Coveo’s Relevance Generative AI? Check out our product page.