AI in the contact center: Key KPIs for banks and credit unions
The integration of artificial intelligence (AI) in contact center platforms is improving the customer experience (CX) and agent experiences across all industries. For banks and credit unions, contact centers that deploy AI, automation, and generative AI tools such as ChatGPT provide an opportunity to improve performance despite increased call volumes and chronic call center understaffing.
But how can banks and credit unions measure the impact of AI on contact center performance? A recent report by Talkdesk offers insights into AI-related contact center key performance metrics (KPIs) to guide banks and credit unions as they evolve their customer support strategies. The report was compiled from two years of data of nearly 3,000 customers across six continents and multiple industries.
Among the main takeaways of the report is that the rapid adoption by contact centers of self-service and automation technology, along with the ability of AI to optimize the work of the contact center agent, “has fundamentally reshaped how organizations are interacting with customers, though many are just beginning to measure the impact across traditional KPIs.”
Offering self-service options through automation and Gen AI frees up support agents to handle more complex customer issues. AI analyzes vast amounts of customer data to better understand their unique needs and preferences. AI also can expedite call routing to match customers with the appropriate agents.
The data shows that deploying Gen AI, for example, correlates with improved core contact center competencies such as faster response times. Specifically, average speed of answer decreased in 2023 to 8.7 seconds from 13.1 seconds in 2022 – a drop of 33.5% – despite an increase in total inbound calls of 21% to 390 million calls over the prior year.