Are Intelligent Virtual Assistants the Future of Customer Service?

There is a noticeable rise in the acceptance of AI-powered intelligent virtual assistants (IVAs) that meet customer service standards, according to a recent report by Kore.ai. The report highlights that customers in various industries, such as banking, healthcare, retail, travel, and telecommunications, increasingly depend on IVAs to obtain timely and relevant information through natural, conversational interactions.  

The survey results demonstrate that customers are unwilling to compromise quality for convenience. They demand precision, speed, and expertise in addition to automated self-service.

"Our recent survey shows there is a growing demand for IVAs across industries, and they are reshaping customer interactions. For enterprises, this data isn't just insight – it's an imperative to recalibrate modern customer engagement strategies, adapt to new expectations, leverage the technologies at hand - conversational and generative AI and LLMs - and position IVAs as transformative tools that redefine how technology and humans come together in the customer journey," said Raj Koneru, CEO of Kore.ai.

While users prefer the assistance of advanced AI technology for complex service interactions, they also appreciate a seamless transition to a live agent when necessary. The study illustrates various use cases across different industries, showcasing the wide-ranging applicability of these solutions for consumers.

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Users prefer automated assistants and hate repetition  

Although a 7% gap remains in approval ratings between IVAs (70%) and Live Agents (77%), consumer preference for IVAs is steadily increasing for simple and complex interactions.

Additionally, 66% of respondents preferred receiving order status information within 30 seconds from an automated assistant (IVA) rather than waiting 3 minutes with a live agent.

As many as 79% of consumers expressed strong displeasure at repeatedly explaining their situation or problem, identifying it as their most significant customer service frustration.

Moreover, 61% of respondents find it highly frustrating when they cannot connect with a live agent. They appreciate when an automated assistant (IVA) intelligently decides when to transfer the call.

Another recent report by 8x8 talks about the necessity of AI and automation in contact centers, highlighting that 80% of contact center and IT sector leaders believe that AI capabilities will soon become essential, and 41% think that companies failing to embrace these capabilities will fall behind.