The Next Wave Of Customer Service — BOTS
First appeared on my LinkedIn Post
A Worried Dude (thinking frantically) : Oh God!, I just lost my wallet with my credit card. What do I do in this new place away from my country…I don’t have my phone banking number…there is no local branch here that I can walk into before somebody starts misusing my card.
Worried Dude (suddenly remembers something!) : There was this BOT I registered earlier on Skype, can it do the trick? Let me try anyway.
Opens Skype (could be Telegram or Whatsapp or any other chat tool…), looks up his friend’s list, sees a contact named “My Bank BOT” which this dude registered long back….
Worried Dude (starts a conversation with My Bank BOT):
- WD: Hey , not sure if you can help me, but I’ve lost my card and need it to blocked ASAP… :(
- My Bank BOT: Hi Jesse, can you confirm if you would like us to block your card please?
- WD: Yes! please do now!
- My Bank BOT: Done. Would you like us to mail you over a new one?
- WD: Thanks. Please do.
- My Bank BOT: Sure. Will this be to your home address : 420 Washington Blvd….
- WD: Correct.
- My Bank BOT: Done. You will get your card in the next 3 days. Your FEDEX ID is <<ID>> and you can track it by clicking the link. Is there anything else you’d want me to help you with, Jesse?
- WD: You are a life saver. Thanks!
- My Bank BOT: Your Welcome!
The worried dude now turns out to be a happy one at the end!
The key fact here is, “My Bank BOT” is a program, not a human being. This conversation is not taken out from any fictional story. The technology is here and we at Tectoro are using it to build some amazing stuff for some of our clients. I personally believe this technology will disrupt the customer service market. It will bridge the gap between a customer and a “brand”. Bring efficiency and speed to operations and increase bottom line by bringing down overall costs. More than anything else, it will boost customer satisfaction by leaps and bounds.
Powered by highly optimized AI/ML algorithms combined with frameworks that just make this work out of the box (see Microsoft Bot Framework). This technology has the potential to disrupt any conceivable customer service use case (across business domains).
It’s not far in the future, when we can expect to see, in our friends lists names like:
1.My Bank (I can provide statements, transfer statuses, take complaints, order checks, block cards and more!)
2. My Doctor (I can take an appointment, tell you the ongoing queue number, your doctor’s schedule, share reports and more!)
2. My Finances (I can provide your cash deposits across banks, projections, statements and more!)
3. My Stock Broker (I can take orders, churn out reports, talk of PnL and more!)
The list goes on…. Amazing, isn’t it?
For more posts on technology, business and trends related to capital markets check out : blog.tectoro.com