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3 Customer Experience Trends to Look Out for in 2024
Contributed article by Jay Wolcott, CEO & Co-founder – Knowbl
2023 was a breakout year
for artificial intelligence (AI) that included widespread deployment of
AI-powered tools in the customer experience space. From chatbots and predictive
analytics to content generation, businesses in virtually every industry have found
ways to leverage AI to foster enhanced customer experiences.
As 2024 unfolds, the
emerging trends in the customer experience space point to a continued reliance
on AI. However, they also show businesses looking to improve AI’s effectiveness
by deploying it in more focused and refined ways.
Entering the era of
effortless conversational experiences
For most consumers,
chatbots are a tool that has been endured rather than embraced. Their presence
on e-commerce and other business websites is seen as an option that can speed
the discovery process along, but not necessarily provide all of the information
needed. The fact that 90
percent of US consumers say they would rather talk to a human than
an AI chatbot reveals that AI — as it is currently being deployed, at least —
is not getting the job done.
Businesses will look to
address those frustrations in 2024 by deploying AI in a way that empowers
effortless conversational experiences. Natural language processing (NLP) empowers interfaces that
effortlessly translate consumers’ questions into helpful information,
transcending the frustrations triggered by legacy chatbots. These
next-generation virtual assistants will allow consumers to simply ask for
information, rather than searching endless web menus and FAQs for relevant
content.
Chatbots trained on the
right content stand to reshape digital commerce in 2024, as consumers
connecting with digital channels will find “always on” assistants that know
their brand and how it can meet consumers’ needs. This breakthrough in customer
automation will help to address the frustrations of a consumer base that is
looking for self-service
options.
Securing a competitive
advantage through LLMs
Large Language Models
(LLMs) are the driving force behind conversational AI, empowering generative AI
engines like ChatGPT to understand human language and respond to queries in a
user-friendly way. The past year was marked by a surge of businesses rushing to
deploy LLMs in a way that supplemented their automated customer support tools.
In 2024, businesses will
expand their use of LLMs to gain a competitive advantage in their respective
fields. In addition to using LLMs to power more intelligent chatbots,
businesses can also use them for extracting information from business documents
and scanning media for emerging news on markets, regulators, and competitors.
Using LLMs for content generation — be it text, visual, or mixed — is another
growing trend that can elevate business performance.
LLMs also enhance a
business’s capacity for predictive
analytics. By analyzing data from internal records, market reports,
and other relevant sources, LLMs can help businesses identify patterns and
leading indicators, even where limited data is available. When combined with
NLP, LLMs empower tools that can generate explanatory narratives for predictive
analytics, improving the value of forecasts for the human agents who must
interpret them.
Another important trend
emerging in 2024 is a shift toward more intelligent LLMs trained on-brand
content in addition to general information. Chatbots empowered by these BrandGPT models can formulate
responses based on brand-specific content. These LLMs also deliver content
approved by the brand, reducing the risk of responses that mislead or misinform
consumers.
Experiencing the demise of
legacy chatbots
As customer expectations
continue to evolve in 2024, they will outpace the assistance legacy chatbots
can provide. As a result, businesses will be forced to move on to a better
alternative or run the risk of offering a subpar customer experience via their
digital channels.
The demise of legacy
chatbots will usher in a new generation that leverages the trends mentioned
earlier. Customer experience will be bolstered by chatbots empowered by
brand-specific LLMs that can provide effortless conversational experiences.
2024 will mark a pivotal
year in which businesses must consider the ways advancements in AI can help
them meet evolving customer demands. Those who can deploy AI in ways that
support self-service with relevant and personalized interactions will gain a competitive
advantage.
– Jay
Wolcott is the CEO and Co-founder of Knowbl. Wolcott is an innovative
entrepreneur and global business executive with deep expertise in
customer-facing operations and the use of artificial intelligence, machine
learning, and digital engagement. With a proven track record, he launched
Digital Roots in 2009, a SaaS company providing advanced social media
engagement and insights. Digital Roots achieved multinational success, being
recognized by Inc. 5000 and esteemed publications. In 2017, Interactions
acquired Digital Roots, where Jay served as Head of Digital helping to build
out their next-generation platform for omni-channel virtual assistants. Since
then, he has supported CX transformations as an Independent Consultant, and his
past experiences include General Motors and successful entrepreneurial ventures
like Seed Staffing and Verego. Knowbl’s mission revolves around groundbreaking
research for advanced conversational AI solutions, enabling the processing of
unstructured data, automating contextual conversations at scale, and providing
actionable insights while digesting existing data sources efficiently to
optimize the overall customer experience.