As consumers get more comfortable with and understand its ability to improve their lives, companies are making investments to improve key supporting technology, such as translation, algorithms and discovery.
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In IBB Consulting’s work with media companies, we’ve identified three key areas where opportunity exists to integrate and machine to improve the customer experience, boost revenues, increase productivity and more. From Chatbots are computer programs which were engineered to converse in spoken or written form with humans. They are usually used in dialogue systems with a limited topic range. For example, they can answer basic customer questions or help you buy the correct train ticket. and content creation to new levels of personalization, the following areas are opportunities to integrate into everything from consumer-facing properties to internal functions.
Chatbots For The Customer Experience & Engagement Win
-driven chatbots can already interact with people on the web or on mobile to help find information, answer questions and sell services. We’re early in the game when it comes to how they will be deployed, with the goal being to ultimately get to a place where communicating with a chatbot feels no different than chatting with a real person. Most customer requests and issues are basic and can be handled by programming chatbots to understand questions and trigger words, then provide answers by querying specific data sources. From a customer care perspective, chatbots and virtual assistants can be a cost-effective way to meet the needs of customers any time of day, with no wait. If necessary, chatbots can be programmed to hand off to a human agent should the conversation become too complicated. Over time, this will not be necessary as machine drives continuous improvements and the chatbot’s understanding of how to address an issue it once could not.
Content That Creates Itself
can also serve the role of content creator. It’s not going to start writing TV scripts, but today, is smart enough to pull data from multiple sources to generate financial reports, sports commentaries and brief event summaries, it can aid in research or even basic content creation. However, while can report facts, it cannot add emotional responses or opinions. It also struggles to create detailed storylines. As machine continues to evolve, media companies can lean on the technology to produce other kinds of content, such as series and movie reviews that pull from, and aggregate in a cohesive story, what consumers are saying on social media.
Getting More Intelligent About Personalization
Today, personalization is a major differentiator as media properties compete for customers. Viewers are favoring tailored recommendations, like Spotify’s Discover Weekly. Netflix’s recommendation An algorithm is a fixed set of instructions for a computer. It can be very simple like "as long as the incoming number is smaller than 10, print "Hello World!". It can also be very complicated such as the algorithms behind self-driving cars. has been estimated to save the company $1B annually by keeping users engaged and reducing churn. can be used to customize service interfaces or web homepage experiences, hiding content that would not appeal to a certain customer, while putting a spotlight on precisely what will keep them watching, listening or clicking for long periods of time. can also be trained over time to offer recommendations that are personalized, but not too personal (aka creepy).