Call Center Management Community
  • Home
  • latest content   
    • Featured Articles
    • Latest News
  • Resources   
    • E-Book: The Benefits of Call Center Management Explained to My Boss
    • Infographic: The Convenience, Cost Savings And Customer Service Benefits of Cloud-based Call Center Management
  • Contact Us
  • RSS Feeds
  • Home
  • Featured Articles
  • Latest News
  • Resources   
    • E-Book: The Benefits of Call Center Management Explained to My Boss
    • Infographic: The Convenience, Cost Savings And Customer Service Benefits of Cloud-based Call Center Management
  • Contact Us
  • RSS Feeds

Call Center Management Featured Article

September 08, 2022

AI Will Reduce Agent Labor Costs by $80 Billion by 2026


By Tracey E. Schelmetic, Call Center Management Contributor

There is a transformation taking place in the contact center, driven by artificial intelligence (AI). While AI can replace some agents for routine queries, such as balance checks and other routine questions, its bigger potential is to make the jobs of human agents easier. In fact, research group Gartner (News - Alert) has estimated that by 2026, conversational AI deployments in contact centers will reduce agent labor costs by $80 billion, while global end-user spending on conversational AI solutions within contact centers is forecast to reach $1.99 billion in 2022.


“Gartner estimates that there are approximately 17 million contact center agents worldwide today,” said Daniel O’Connell, VP analyst at Gartner. “Many organizations are challenged by agent staff shortages and the need to curtail labor expenses, which can represent up to 95 percent of contact center costs. Conversational AI makes agents more efficient and effective, while also improving the customer experience.”

Conversational AI can automate all or part of a contact center customer interaction through both voice and digital channels, through voicebots or chatbots, and it is expected to have transformational benefits to customer service and support organizations within two years. Today, AI can automate about 1.6 percent of call center/customer conversations. The numbers Gartner has predicted mean that in a few short years, this figure will rise to one in 10. But, perhaps the more compelling application is for the AI to do the grunt work – collecting information about the customer and their issues – leaving the live agent to do the thinking and complex reasoning.

“While automating a full interaction – also known as call containment or deflection – corresponds to significant cost savings, there is also value in partial containment, such as automating the identification of a customer's name, policy number and reason for calling,” said O’Connell. “Capturing this information using AI could reduce up to a third of the interaction time that would typically be supported by a human agent.”




Edited by Erik Linask



HOME

CALL FOR CONTENT




Workforce Management Metrics: Unlock the Secrets to Growing Your Bottom Line



Strategies for Improving Schedule Adherence

Call Recording Software is Essential for your Call Center

The Ultimate Guide to Contact Center Shrinkage


Decision Guides

  •   Workforce Management in the Cloud
  •   Workforce Management Selection Guide
  •  Scheduling Spreadsheets Are Not Really Free

Follow Us

QUICK LINKS

  • HOME
  • FEATURED ARTICLES
  • LATEST NEWS
  • CONTACT US
  • CALL CENTER SCHEDULING
  • WORKFORCE MANAGEMENT

CALL CENTER MANAGEMENT

Monet Software provides an affordable and flexible On Demand Call Center Management Solution to accurately forecast call volumes, effectively schedule and manage performance of their agents, resulting in increased service levels and reduced payroll costs.

Powered By Technology Marketing Corp. © 2023 Copyright. Ph: (800)-243-6002 (203)-852-6800 | Contact TMC