Customer Support is entering a new era!

According to Zendesk, 72% of business leaders now prioritize expanding AI and chatbots across the customer experience. These AI-powered assistants are transforming customer support by providing:

1. 24/7 Availability: Meeting customer expectations for instant support at any time.
2. Personalized Interactions: Analyzing customer data to offer tailored responses and recommendations.
3. Operational Efficiency: Handling high volumes of inquiries simultaneously, reducing wait times and costs.
4. Multilingual Support: Communicating effectively in multiple languages without additional staffing.
5. Continuous Improvement: Learning from each interaction to enhance future responses.

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Challenges in Global Customer Support

In today's global economy, businesses face unique challenges in providing customer support:

• Multilingual Support: Enhancing Global Reach
  Providing support in customers' native languages is crucial for customer satisfaction and loyalty. According to Common Sense Advisory, 76% of customers prefer to buy products and services in their native language. Moreover, 40% of consumers will not buy from websites in other languages, highlighting the importance of multilingual support.

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• Round-the-Clock Service: Meeting Modern Expectations
  Customers today expect 24/7 support, accessible globally. This expectation can be challenging to meet with traditional staffing methods, which involve hiring multiple shifts or off-shore resources. AI agents simplify this process, providing consistent and accurate support without the need for around-the-clock human staffing. According to Gartner, by 2028, AI will handle 80% of customer interactions, ensuring continuous and reliable service

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• Handling High Volumes of Inquiries: Scaling with Ease
  Managing a large number of customer inquiries efficiently is essential for maintaining satisfaction and retention. High inquiry volumes can strain traditional customer support teams, requiring lengthy hiring processes and training. With AI chatbots, scaling to meet demand is much simpler. By increasing server capacity, businesses can be ready for expansion instantly. According to a study by Juniper Research, The conversational AI market size is expected to increase from USD 10.7 billion in 2023 to USD 29.8 billion by 2028.

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Some Success Stories in AI-Powered Customer Service

Klarna's AI Assistant:

Challenge: Handling a high volume of customer service queries efficiently in over 35 languages.

Solution: Klarna integrated an AI assistant capable of managing refunds, returns, payments, and more, available 24/7.

Results: The AI assistant handled 2.3 million conversations in its first month, doing the work of 700 full-time agents.

• It reduced the average ticket resolution time from 11 minutes to under 2 minutes.
• There was a 25% drop in repeat inquiries.
• This AI solution is estimated to drive a $40 million profit improvement for Klarna in 2024.

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Fini's AI-Powered Customer Service Transformation for a Leading FinTech Giant:

Challenge: Handling a high volume of customer service queries with accuracy, consistency, and cost-efficiency for a major fintech company.

Solution: Fini AI integrated RAG GenAI Framework to automate support queries by overlaying LLM capabilities on internal company data. This included:

• High quality training data ingestion pipeline from multiple sources such as Zendesk, Google drive, web links, local excels/word files.
• Designing a rigorous QA feedback loop to enhance accuracy and monitor category wise performance.
• Ensuring consistency through dedicated account management and continuous improvement.

Results: The AI agent quickly became an integral part of support framework as it automated over 60% of support queries, alongside it:

• Reduced support costs by 40%.
• Increased accuracy from below 50% to over 95%.

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DistroKid - Platform that enables earning for Artists:

Challenge: Handling a high volume of complex customer service queries efficiently in over 500 categories, originating from 2 million+ registered artists across 60+ platforms.

Solution: DistroKid integrated a tailored AI-powered customer support solution with Fini AI using the RAG GenAI framework. The AI agent took care of the escalations end to end - unlocking smart categorization with 99% accuracy across the 500+ buckets, followed by custom handling for sensitive vs regular escalations and lastly enabling the human agents to feed updated information to the model to enable unlock strong feedback loops for continuous improvement.

Results: DistroKid was able to automate half of their query handling (starting from 0%) and achieved near-perfect categorization accuracy, alongside it:

• Freed up 10% of support manpower.
• Streamlined operations, reduced response times, and enhanced customer satisfaction.

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What are you waiting for?

P.S. Did you know that 79% of businesses now consider automation essential to their customer experience strategy? Don't get left behind – let's talk about how Fini can keep you at the forefront of customer service innovation.

At Fini, we understand the unique challenges faced by businesses across Fintech, EdTech, and E-commerce. Our customer service automation solutions are designed to help you stay ahead of these trends, offering:

• AI-powered chatbots for 24/7 support
• Seamless integration with existing support systems like Zendesk, Intercom
• Omnichannel support capabilities
• Continuous learning and improvement

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Ready to revolutionize your customer service? Visit https://usefini.com/ and see how Fini can help you implement these cutting-edge AI solutions!