RESEARCH REPORT
RESEARCH REPORT
Conclusion
Artificial intelligence shows promise across the world of customer experience. Understanding how best to use it across the CX value chain provides brands with guidance on where to begin their AI journey. For financial services companies, using AI to augment inefficient processes across the lending journey is the best place to start to see ROI without risking customer or employee trust. Stay connected with TTEC for more research on how AI impacts the CX value chain in popular industries and customer journeys. And learn more about making your customer experience AI-ready at www.ttec.ai.
The future of AI: Assisting humans at moments of friction
To win the war for talent and meet customer needs, financial brands must strike a careful balance by focusing on customer expectations and prioritizing employee experience (EX). We recommend investing in what matters to these employees: competitive wages, work-life balance, and a culture that matches their values. Increased costs in these areas can be offset by AI automation in others. As AI tools become more ubiquitous across the CX value chain, people will be a brand’s differentiator in the long run. Don’t count them out.
TTEC’s research shows that AI will not replace people along the loan application journey. In fact, AI has the biggest impact when the tools help people do their jobs more quickly with less friction. This optimized way of working leads to an easier loan process, happier customers, and the ability to handle more volume with the same number of resources. This also means that investment is needed in the human workforce to develop associates with technical knowledge, financial services expertise, soft skills, and empathy. AI is shifting hiring needs from tier 1 associates to more advanced associates who can help customers with more complex, technical, or emotionally charged interactions.
12 | AI/CX VALUE CHAIN ANALYSIS: BANK LOANS
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