AI and Client Services – Chatbots and CVAs Are the Wave of the Future

AI and Client Services – Chatbots and CVAs Are the Wave of the Future

In our most recent post, we shared the belief that Artificial Intelligence (AI) would impact the design and furnishings industry sooner rather than later. Beyond AI-powered design apps, we will most likely see the increasing implementation of bots and virtual customer assistants (VCAs) to blend and improve AI and client services.

According to the research and executive support firm Gartner, emerging technologies such as “Bots and virtual customer assistants (VCAs) are becoming more widely adopted. They are of medium-high importance now but are expected to grow in importance in the future. These technologies act on behalf of the organization to deliver information or act on behalf of the customer to perform a transaction. Bots and VCAs can guide customers to the right resources at the right time to free up rep resources.”

“‘Sixty-eight percent of service leaders indicate that bots and VCAs will be more important in the next two years,’ says Lauren Villeneuve, senior principal, advisory at Gartner. ‘Service centers should seriously be considering how this technology could be integrated into current operations, in both customer-facing and rep-facing systems.’”

The Practical Use and Importance of Bots

“Leveraging AI bots and VCAs through web chat channels has proved successful for many service centers. Deploying bots can deliver various benefits, including:

• Greater capability and scale. AI bots are able to solve simple issues while letting advisors focus on the more complex tasks. Additionally, bots are able to help serve a growing customer base without the necessity of adding advisors.

• Faster chat speed. AI bots can drastically reduce customer wait time. One client reported chatbots replying with[in] five seconds of customer contact, while typical advisors take 51 seconds.

• Better gatekeeping. AI bots can learn to recognize other bots trying to gain access to systems, thus freeing advisors to only focus on actual customers.”

It is this nearly flawless flow from initial client contact to results-oriented solutions that improve client relations and free up a designer’s time, enabling them to focus on what they most love to do – reimagining a homeowner’s spaces. So, despite our nearly universal dislike of dealing with an AI when seeking service ourselves, the trend is for more, and better, chatbots and CVAs in our personal and professional lives.

As long as the better part of that sentence holds true, the inevitability of this trend should be something we look forward to seeing.

Ted remains available for business consulting to the trade on diverse issues which can include AI and customer service questions. To get in touch with him, simply… Contact TD Fall today.

Artificial Intelligence – Will it Hurt or Help the Furnishings Industry?

Artificial Intelligence… The very words can frighten us after seeing or reading countless movies and books where the friendly helper becomes a deadly foe. And now, we see it making an impact in the home furnishings industry – an impact that will affect all of us eventually (if it hasn’t gotten to you already).

So, what is AI? “Artificial Intelligence (AI) is machine-displayed intelligence that simulates human behavior or thinking and can be trained to solve specific problems.” (SimpliLearn.com)

Further, AI is already impacting all of our lives on a daily basis.

• As per Gartner, 37% of organizations have implemented AI in some form. The percentage of enterprises employing AI grew 270% over the past four years.

• According to Servion Global Solutions, by 2025, 95% of customer interactions will be powered by AI.

• A recent 2020 report from Statista reveals that the global AI software market is expected to grow approximately 54% year-on-year.

Technology is Changing How We do Business

OK, so why should we worry about using Artificial Intelligence for interior design or in retail furnishings? Well, according to Ashley Furniture CEO Todd Wanek, “By the end of this decade, there will be two types of companies. One, that’s in business using A.I., and the second one that’s out of business. I think it’s going to be that impactful.” (FurnitureToday.com)

Admittedly, that is a pretty bold claim. Then again, it’s not like a smartphone, tablet, or laptop is NOT being used to help interior designers reimagine a homeowner’s space. Or, to help a furnishings dealer show a client exactly how a new piece of furniture will look when placed in their home.

Apps like these are the very definition of Artificial Intelligence and they’ve been available for quite a few years.

“Home furnishings retailers are deploying [AI] with virtual reality technology to show how home furnishings will look within a room. They’re adding chatbots to their online customer service applications. They’re using it with business forecasting and data analysis, as well as to write copy for press releases or product descriptions on their websites.”

AI Will Boost Productivity

Clearly, AI can make our lives easier – when used effectively. The fear of AI comes from imagining what the logical implications of employing such a powerful technology might be moving forward.

Could AI be developed in a way that it could design custom furniture on its own? Could it take over for interior designers and reimagine a client’s space without the designers’ input? Just how far will we go?

Mr. Wanek explains, “There’s a tool called Midjourney right now that we’re using. We’re using it for creative service. Our design team is using it to help design product[s]. It’s unbelievable what it can do in five minutes, which would have taken hours before. In our product knowledge team, what would have taken them three weeks, they got done in three days just through ChatGPT.”

Additionally, he shared, “We’ve deployed it already in some cases, like in transportation and accounts payable. We’ve also deployed it in human resources. It goes through resumes and helps identify whether the person applying is capable of working for our company.”

Whether we like it or not, new technologies – including Artificial Intelligence – are having and will continue to have a meaningful impact on our industry. To quote our hero and mentor:

“I have an idea that AI needs to be humanized for designers. It's already having an impact on our industry and the early adopters will own the largest market share.” (Ted Fall)

We’ll be examining this issue in future posts about how and whether Artificial Intelligence will hurt or help the furnishings industry.

For now, Ted remains available for his impressions of issues like these and for business consulting to the trade. All you have to do is… Contact TD Fall today.