LEARN HOW TO IDENTIFY, EVALUATE AND EXECUTE AI USE CASES TO DELIVER VALUE AND TRANSFORM YOUR BUSINESS
Artificial intelligence (AI) is no longer a futuristic concept, but a reality that is reshaping the world of business. AI can help organizations improve efficiency, enhance customer experience, reduce costs, and gain competitive advantage. However, identifying the right use cases that bring value to your organization is not a simple task, and requires careful planning, evaluation, and execution.
Engage Escalate Solutions to help you begin your AI journey, and we can help you achieve the following:
Confirm the Vision
The first step to implement AI within your organization is to define your general vision statement. Why do you want to use AI? What do you expect to achieve?
“We want to use AI to improve our customer service and retention by 20% in the next 12 months, by automating repetitive tasks, personalizing interactions, and providing insights and recommendations.”
What Problem is Being Solved?
It is critical at the outset to identify the specific problem or pain point that you want to solve. This is a detailed and precise description of the current situation, the challenges, and the gaps that you want to address.
“Our current customer service process is inefficient and inconsistent, resulting in low customer satisfaction and retention rates. The main causes of this problem are: the high volume of customer inquiries, the lack of standardization and automation, the limited personalization and customization, and the lack of data-driven insights and recommendations.”
Understand the Opportunity
Use cases should also consider opportunities that can only be achieved with AI. We help ensure stakeholders understand the desired future state, the benefits, and the value proposition.
“We want to use AI to create a customer service process that is efficient and consistent, resulting in high customer satisfaction and retention rates. The benefits of our AI solution are: it will reduce the workload and errors of our customer service agents, it will standardize and automate the customer service process, it will personalize and customize the customer interactions, and it will provide data-driven insights and recommendations.”
Define the Use Case
The use case is a concrete and specific statement that defines the scope, the features, and the functionality of the proposed AI solution. They can be:
- Scenario-based, describing a realistic and relevant situation or example that illustrates how your AI solution will work and how it will solve the problem and seize the opportunity.
- Feature-based, listing main features and functionality that your AI solution will provide, and how they will address the customer needs and expectations.
- Technology-based, specifying the type and category of AI that you will use, and how it will enable the features and functionality of your AI solution.
- Feasibility-based, demonstrating the feasibility and viability of your AI solution, and how it will comply with the technical, ethical, and legal requirements and standards.
“We want to use AI to create a chatbot that will handle the customer service inquiries on our website and mobile app.”
The main features and functionality of our chatbot are: (1) it will use natural language processing and understanding to interact with the customers in a conversational and human-like manner, (2) it will use machine learning and knowledge base to provide accurate and relevant answers and solutions, (3) it will use personalization and recommendation engines to tailor the interactions and offer suggestions and offers, and (4) it will use analytics and feedback to improve and optimize the customer service process.
The type and category of AI that we will use are: conversational, knowledge-based AI, and predictive. Our chatbot will be feasible and viable, as it will use existing and reliable AI platforms and tools, and it will follow the best practices and guidelines for data privacy, security, and ethics.
Identify the Business Value & Category
Stakeholders should be aligned on the business value or the return on investment expected. The value can be quantitative and/or qualitative and consider such categories as finance, customers experience, operations, social value, sustainability, productivity or strategy. The value should also consider fit, gaps, and internal alignment
“We expect to generate the following business value with our AI chatbot: (1) it will increase our customer service efficiency by 50%, by reducing the average handling time and the number of escalations, (2) it will increase our customer satisfaction and retention by 20%, by improving the quality and the relevance of the answers and solutions, (3) it will increase our customer loyalty and revenue by 10%, by providing personalized and customized offers and suggestions, and (4) it will increase our customer insights and innovation by 5%, by collecting and analyzing the customer feedback and data. These indicators and metrics will help us deliver our value proposition and competitive advantage of providing a superior and differentiated customer service, and help us achieve our general vision statement and core business objectives of improving our customer service and retention.”
Additional examples regarding an AI chatbot could include:
“The feature of natural language processing and understanding of our AI chatbot correlates and contributes to the indicator of customer satisfaction, as it enables the chatbot to interact with the customers in a conversational and human-like manner, and provide accurate and relevant answers and solutions.”
“The feature of machine learning and knowledge base of our AI chatbot correlates and contributes to the indicator of customer retention, as it enables the chatbot to learn from the customer feedback and data, and improve and optimize the customer service process.”
“The feature of personalization and recommendation engines of our AI chatbot correlates and contributes to the indicator of customer loyalty and revenue, as it enables the chatbot to tailor the interactions and offer personalized and customized offers and suggestions.”
“The feature of analytics and feedback of our AI chatbot correlates and contributes to the indicator of customer insights and innovation, as it enables the chatbot to collect and analyze the customer feedback and data, and provide data-driven insights and recommendations.”
If you are interested in learning more contact us via [email protected]. We look forward to hearing from you and working with you on your AI journey.
GenAI resources were used in the drafting of this article.