Consumer Discretionary

<p style="text-align: justify;">The answer lies within the AI and ML-powered context center.</p><p style="text-align: justify;">In a world where customers want more and more from their business interactions, AI emerges strong as the right solution for instant, effortless two-way communication.&nbsp;</p><p style="text-align: justify;">There is no denying that Artificial Intelligence and Machine Learning are rapidly taking over the tricky, complicated, and labor-intensive contact center.&nbsp;</p><p style="text-align: justify;">Therefore, it is being transformed into an online space where most customer interactions take place efficiently and smoothly.&nbsp;</p><p style="text-align: justify;">It is also widely accepted that elevated customer experience requires a multi-factor approach and that traditional contact centers have long been a focal point of customer engagement and experience.&nbsp;</p><p style="text-align: justify;">These serve to foster loyalty in customer relations and address questions and concerns, but most importantly, they serve as storytellers for the brand itself, affecting its reputation.</p><p style="text-align: justify;">However, with the help of AI and ML, the role of contact centers within the business organization is being re-engineered.&nbsp;</p><p style="text-align: justify;">Modern-day contact centers operate as the true heart of the company, as an extension of the brand set to nurture brand loyalty and advocacy but, most importantly, to lay the foundations for a world of engaging digital experiences.</p><h2 style="text-align: justify;"><span style="font-size: 14pt;">The "Multi-experience World" is the next Frontier in Customer Relations</span></h2><p style="text-align: justify;">Not too long ago, contact centers could have consisted of little more than a small team responsible for monitoring social media, answering the phone, handling email inquiries, and shipping disputes.&nbsp;</p><p style="text-align: justify;">With the advent of &nbsp;AI and ML solutions, contact centers are seamlessly becoming integrated with broader digital business operations, aiming at &nbsp; enhancing the overall functionality and &nbsp;safeguarding customer relations.&nbsp;</p><p style="text-align: justify;">AI and ML-powered contact centers empower companies of all sizes with scalable technology that can customize every experience within the customer's journey whilst refining and optimizing the quality of these experiences.&nbsp;</p><p style="text-align: justify;">AI and ML make it possible to structure an operational framework in which companies can adapt their interactions with customers, employees, and other stakeholders to everyone's advantage. This so-called "multi-experience world" is the next frontier in customer relations.</p><h2 style="text-align: justify;"><span style="font-size: 14pt;">Out with the Old, in with the New: From the "Contact Center" To the "Context Center"</span></h2><p style="text-align: justify;">These powerful new tools go beyond simple "contact" to create an entirely novel, data-driven, personalized "context" that steers business operations by incorporating customer interactions.&nbsp;</p><p style="text-align: justify;">That is to say, a "context center" able to deliver comprehensive and rewarding experiences that impact customer satisfaction and sentiments long after the contact has been wrapped up.</p><p style="text-align: justify;">More specifically, AI and ML feed businesses on-point, relevant, -personalized, and actionable information, defining the interactions between the company and the customer under the multi-experience model. These features can guide facets of the interaction such as:</p><ul><li>The customer's preferred contact method</li><li>The customer's preferred engagement platform</li><li>Customer purchase history</li><li>Customer sentiment and happiness</li></ul><p style="text-align: justify;">Drawing upon relevant data, the AI and ML-powered context center then use this information to create a real-time, full-spectrum customer engagement personalization process that ensures a multi-experience continuity across every step of the customer's journey.</p><p style="text-align: justify;">And this is precisely why the answer to lightning-fast, hyper-personalized experience in retail &nbsp;is AI and ML-powered context centers. Our company is at the forefront of helping businesses unlock their growth by leveraging new technologies.&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span style="font-size: 10pt;"><em>This <a href="https://www.linkedin.com/pulse/need-lightning-fast-hyper-personalized-experiences-retail-visviki/">article</a> was contributed by our expert Hana Visviki .</em></span></p><p style="text-align: justify;">&nbsp;</p><h3 style="text-align: justify;"><span style="font-size: 18pt;">Frequently Asked Questions Answered by Hana Visviki</span></h3><h2><span style="font-size: 12pt;">1. How is AI changing the retail industry?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">AI has provided a big support in enhancing the customer experience, The Retail sector has improved its operations. AI has empowered retail businesses by providing them with High quality data and information and more business opportunities.&nbsp;</span></p><h2 style="text-align: justify;"><span style="font-size: 12pt;">2. How is machine learning used in retail?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">Machine learning has helped retail organisations in a great deal. ML breaks complex data into actionable Insights, helps retailers with optimising prices &amp; helps in demand forecasting and stocking.</span></p><h2 style="text-align: justify;"><span style="font-size: 12pt;">3. How can Artificial Intelligence to help improve the customer experience?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">AI has made it easier to manage, analyse and collect social &amp; historical customer data on a real-time basis and because of this the retailers are able to identify customer needs and behaviour in a better way and eventually It leads to the creation of hyper-personalised customer experience.</span></p><h2 style="text-align: justify;"><span style="font-size: 12pt;">4. How does machine learning improve customer experience?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">As discussed in my previous answer ML breaks complex data into actionable insights, and it &nbsp; personalizes customer experience, predicts customer&rsquo;s behaviour pattern, identifies Issues all &nbsp;this helps in improving the real-time customer experience.</span></p>