AI's Impact on Customer Service Roles

Last week, I had a conversation with a Managing Director of a US bank. I wanted to understand what they’re doing, and plan to do, with respect to careers in the evolving AI era. He explained the emerging role of AI and how AI will influence and impact careers of the future. Good People, over time, on most white-collar jobs, our supervisors will be AI. For example, a bank can set up a system where AI will handle customer support for customers who are investing $100 in a fund while humans will be required to call and speak with clients putting in $1m. But those calls could be monitored by AI so that immediately you drop the call, AI will analyze the call, examine context, etc on how effective you were on that call. At the end of the week, AI will summarize what you have done on those calls and send them to a senior manager. Feedback? AI can also provide you after every call! (Some US banks are just beginning to track calls made by their sales teams, not just for compliance purposes, but also to track how efficient they are on those calls. He does posit that AI is already listening to some of those calls). Good People, rethink your role at work because intelligent machines are at the doors.

As many of you already know... I've been dipping pretty deeply into AI lately (and have partnered up with UponAI). Though my interest and involvement in it is based on helping businesses function better... I get that there's also another perspective on it that I think is worth addressing. There's this common worry that AI is here to take the place of humans. I get it. Our interactions with others are so important in building relationships and connecting with customers. But I like to think of this a little differently. AI is not here to replace the faces behind a business. It's here to work WITH them. Here's what I mean. Imagine this: It's one of those super busy days at your office, and calls are coming in like crazy. Usually, if your receptionist can't catch every call, customers end up stuck on hold, listening to that oh-so-familiar hold music. Now, imagine if instead: When the phone rings, your team gets the first opportunity to answer. But when their hands are full, AI could step in to keep things moving... This isn't about sidelining our people; it’s about making sure we never miss a beat in serving our customers. When the AI steps in, it’s all about smooth support: figuring out what the caller needs, connecting them to the right department, and handling other simple tasks. Here's why this is awesome: → No more missed calls, every customer is greeted. → We boost our team's efficiency without losing the human touch. → It's cost-effective because managing lots of calls can happen simultaneously–even if staffing is low. → Every call gets logged—and afterwards, we get a summary, making follow-ups super easy. I like to think of AI as the friendly sidekick in our customer service stories. It’s here to help us make sure our customer service stays top-notch, all while keeping our human connection strong. In a world where great service really matters, this is so important. It's not about replacing, but reinforcing 😎☎️ What do you think? Do you see how this could be beneficial to a business, or are you solely for the human touch? Would love to hear your thoughts! #PhoneBill ☎️

Came back from vacation Monday. Inbox? On fire.🔥 Buried in the chaos: a customer story that stopped me in my tracks (and made me so happy). A Customer Support leader at a fast-growing financial services company used AI to transform his team - in just a few weeks. This leader works for a financial services company that’s in high-growth mode. Great news, right? Yes! For everyone except his Customer Support team… As the business grew faster, they were bombarded with repetitive questions about simple things like loan statuses and document requirements. Reps were overwhelmed. Customers faced longer response times. The company has been a HubSpot customer for nearly 10 years. They turned to Customer Agent, HubSpot’s AI Agent, and got to work: - Connected it to their knowledge base → accurate, fast answers - Set smart handoff rules → AI handles the simple, reps handle the complex - Customized the tone → sounds like them, not a generic bot (you know the type) In a short space of time, things changed dramatically: - Customer Agent now resolves more tickets than any rep - 94.9% of customers report being happy with the experience - For the first time, the team can prioritize complex issues and provide proactive support to high-value customers It’s exciting to see leaders using Customer Agent to not just respond to more tickets, but to increase CSAT and empower their teams to drive more impact. 2025 is the year of AI transformed Customer Support. I am stunned by how quickly that transformation is playing out!

Ever wondered how AI is set to transform jobs? Let's take a look at the customer experience space. Traditionally, a customer support job description might read like this: "Seeking a Customer Support Representative to manage inbound and outbound calls. The role involves using communication skills and product knowledge to interpret policies and procedures, troubleshoot problems, process orders, and professionally close call interactions." But with AI in the mix, this could change to: "We're hiring a Customer Support Representative to provide exceptional service through our digital channels and AI assistants. The ideal candidate will combine technical aptitude, communication skills, and adaptability to stay ahead of how customers connect with brands." Notice the shift? The role now emphasizes digital channels and AI assistants, reflecting a shift from traditional call-based support to digital interactions. Moreover, the focus is no longer just on product knowledge and policy interpretation, but also on technical aptitude and adaptability. Why? Because AI is changing how customers connect with brands. And it's not just about using AI to handle customer inquiries. It's about understanding how AI works, how to leverage it, and how to adapt as it evolves. So, as AI continues to advance, we can expect job descriptions to evolve in tandem. And those who can adapt to this new landscape will be the ones who thrive. 💪 Remember, change is the only constant. And in the world of customer experience, AI is that change. Embrace it, and you'll be ready for the future.

Recent happenings in Klarna, the Buy Now, Pay Later (BPNL) fintech used by the likes of Versace and Nike, show the disruptive impact of AI in the ecosystem. Let's unpack. Klarna, a $7bn fintech startup, recently launched its AI Assistant, powered by OpenAI's ChatGPT, that has been a success. It's been so successful that the company revealed it is no longer hiring outside of engineering and that AI would pick up the duties of laid-off employees. The AI assistant has demonstrated remarkable efficiency, autonomously handling over 70% of customer requests within its first month,or about 2.3 million conversations so far, equivalent to the workload of 700 full-time employees! The AI assistant handles questions about refunds, returns, payments, cancellations, and more in 35 languages, usually in under two minutes. The previous time of a customer service interaction without the chatbot was 11 minutes! The anticipated impact is substantial, contributing to a $40 million profit improvement for Klarna in 2024 This achievement represents only the beginning of transformative potential. While Klarna stands out as an early adopter of ChatGPT Enterprise, it signals a broader industry shift towards implementing AI for enhanced efficiency and cost reduction. Nevertheless, while the implementation of AI in companies like Klarna brings about positive outcomes in terms of efficiency and profitability, it also raises concerns about potential job displacement. The industry-wide shift towards AI adoption suggests that these transformative changes are not limited to fintech and finance but are likely to impact various sectors in the near future. As businesses navigate this technological evolution, there is a need for proactive measures to address the potential challenges associated with job risks and ensure a smooth transition for the workforce. The wave of change is definitely imminent. AI is poised to reshape the world.

77% of Accounts Receivable (AR) teams struggle to keep up with workloads. Traditionally, AR’s core tasks are undertaken manually. It hits workloads hard, is a major source of frustration for AR teams, and is often the reason why teams lose talent. It’s also a source of frustration for customers. Customers who have a poor experience spend 140% less than those who have a positive customer experience. AI is already revolutionizing customer service functions and is set to transform the customer experience within AR. ↪️ 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻 AI-driven platforms collect customer data, which is used to tailor emails and other communications. Integrating AR systems with key business systems, such as ERPs and CRMs, can tie payment records to any customer interaction. Personalizing payment reminders ensures customers feel valued (not just another number on a spreadsheet), improving the overall collection process. ↪️ 𝗔𝗻𝗮𝗹𝘆𝘇𝗶𝗻𝗴 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗛𝗶𝘀𝘁𝗼𝗿𝘆 Leveraging AI to analyze your payment data helps your AR team proactively manage customers at risk of defaulting before the issue can escalate. From putting a payment plan in place to initiating the collections process earlier, AR teams have an opportunity to demonstrate empathy and strengthen customer relationships. ↪️ 𝗦𝗲𝗹𝗳-𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 Making it as easy as possible to pay means there are fewer excuses for customers to delay payments and keeps the Day Sales Outstanding (DSO) metric low. 67% of consumers would rather use self-service than speak to a company rep. Incorporating direct links in payment reminders, comprehensive FAQs, and AI chatbots for simple queries eliminates the need for customers to talk to AR when problems arise. Customers can pay when it suits them, not only during office hours. ↪️ 𝗛𝗶𝗴𝗵𝗲𝗿 𝗤𝘂𝗮𝗹𝗶𝘁𝘆 𝗜𝗻𝘁𝗲𝗿𝗮𝗰𝘁𝗶𝗼𝗻𝘀 By diverting simpler queries and time-consuming AR tasks to AI-powered finance systems, AR professionals have more time to focus on strategic tasks and managing relationships. So when a customer does need to talk to an AR team member, the conversation is more focused, rooted in a deeper knowledge of their account, and overall more positive. Brands that optimize customer experience achieve 5.7 times more revenue than their counterparts. But customers don’t only interact with sales or customer service teams. Every part of the business has a role to play, including finance. Let me know your thoughts in the comments 👇 Sources: PYMNTS, Harvard Business Review, Nuance Enterprise, Forrester #AI #automation #accountsreceivable Looking to bring your AR process into the 21st century?  Take a spin with Tesorio → https://lnkd.in/ePNwpV_M

💼 Artificial intelligence (AI) adoption in businesses, such as Klarna, could potentially replace millions of U.S. jobs. 🛒 Klarna, a fintech company, utilizes AI across its operations, notably with an AI chatbot equivalent to 700 customer service agents. 📊 Klarna's transparent sharing of AI's impact aims to highlight its efficiency and effectiveness in customer service, sparking debates about AI's role in the future of work. 🤖 CEO Sebastian Siemiatkowski emphasizes the current reality of AI's integration in the workplace and the necessity for society to address this significant change. 💬 Klarna's AI chatbot handles two-thirds of customer service inquiries, achieving customer satisfaction and reducing repeat inquiries by 25%. 💡 AI implementation aims to enhance productivity by eliminating less-productive tasks, allowing employees to focus on value creation. ❓ Concerns regarding AI's potential for mistakes or delivering inaccurate information are addressed through continuous monitoring and improvement. 🤝 Klarna's approach to hiring has shifted due to AI, leading to a reduction in recruitment and a focus on investing more per employee. 💰 AI implementation resulted in significant cost savings for Klarna, estimated at $40 million, through reduced reliance on customer service suppliers. 🌐 Larger societal implications of AI's impact raise questions about job security and the need for support systems for individuals affected by automation. #ai #efficiency https://lnkd.in/dUgH7dpR