Artificial Intelligence Use in Customer Service Is Rising | ETF Trends

More and more, companies are shifting towards artificial intelligence (AI) as its first point of contact when it comes to customer service. The movement towards AI is already happening, which can only fuel exchange-traded funds (ETFs) focused on this type of disruptive technology.

Per a Forbes article by Unabel cofounder Joao Graca, a “2019 report found that 24% of customer service teams were already using AI and 56% were seeking AI opportunities. And when used wisely, it’s working: Among teams employing AI for customer service, 82% reported increased first contact resolution (FCR) rates, while 79% reported increased CSAT or Net Promoter scores.”

The article noted five ways, in particular, where AI would benefit customer service. One of those ways is improving the writing skills of customer service professionals to improve communication.

“AI can help customer service agents write more clearly and with better grammar. Improving the quality of writing in customer support channels can increase customers’ perception of a brand. Credibility matters, especially when a customer is already confused or upset,” the article said. “AI-powered writing assistants enable workers, including customer support agents, to check everything from grammar and spelling to style and tone. This reduces errors while helping agents clearly express meaning to customers.”

To take advantage of this growing trend, investors might want to give Global X Artificial Intelligence & Technology ETF (AIQ) a look. AIQ seeks to provide investment results that correspond generally to the price and yield performance of the Indxx Artificial Intelligence and Big Data Index.

The fund invests at least 80% of its total assets in the securities of the underlying index, which is designed to track the performance of companies involved in the development and utilization of artificial intelligence and big data.

AIQ Chart

AIQ offers investors:

  • High Growth Potential: AIQ enables investors to access high growth potential through companies involved in the development and utilization of artificial intelligence and big data technologies.
  • Unconstrained Approach: AIQ’s composition transcends classic sector, industry, and geographic classifications by tracking an emerging theme.
  • ETF Efficiency: In a single trade, AIQ delivers access to dozens of companies with exposure to artificial intelligence and big data theme.

“I believe artificial intelligence will continue to expand its capacity to support customer service,” Graca wrote. “Many teams are working on improving natural language processing, decreasing bias in AI and increasing the speed and quality of customer service interactions. That said, there’s no time like the present to start putting some of the amazing AI tools to work for your customer service program.”

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