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Machine Learning To Improve Customer Relationships

Generally associated with works of science fiction and digital games, artificial intelligence is almost always seen as something futuristic and far from becoming applicable in the corporate environment. However, the last few years have been marked by a swift change in this paradigm.

New technologies, such as Machine Learning, adopt AI principles to generate results and optimize work routines. They are equipped with mechanisms to use records strategically, reducing costs and maximizing the institution’s ability to attract new consumers. Could you find out how it works below?

What Is Machine Learning?

Machine Learning — or machine learning, as the term is known in Portuguese — is a technology that allows data analysis to identify strategic patterns. By evaluating the use of systems and identifying trends, IT tools optimize their functions, creating a more dynamic and personalized user experience and contributing to customer satisfaction.

Machine learning has been used extensively in industry to improve digital services. For example, the electronic recognition of documents, used by banks’ formalization and registration area, uses neural networks to identify the registration documents sent by customers (CNH, RG, CPF, and proof of residence).

How Does Machine Learning Improve Customer Service?

In defining consumer relationship strategies, machine learning can also play a strategic role. Discover some applications of artificial intelligence:

Electronic Identification Of Documents

The customer profile has changed, and digital transformation has hit the market. Customers are demanding and want quick responses, increasing the need for process improvements and new technologies. An interesting application occurs in the financial sector to speed up opening accounts, loans, and cards.

The emergence of Fintechs and the digital bank influenced traditional financial institutions to redefine their internal processes, whether for the bank branch or a digital operation. Operational efficiency and a focus on the customer experience are essential to face consumer changes, so banks have invested in automating internal processes and eliminating manual activities through technology.

Atomics is a solution that has transformed bank formalization and improved the customer service experience. This solution is capable of automatically identifying registration documents and extracting their information. Thus, data validation and verification are performed electronically, and the customer’s response time is reduced to minutes.

Artificial intelligence applied to bank challenges, together with cloud computing, is capable of revolutionizing banking processes and improving customer service.

Smart Push

One of its possible applications is sending notifications to customers according to their behavior, the so-called smart push. This tool uses data collected from applications or web pages to identify the best time to provide a discount or offer to each consumer, increasing conversion rates.

Chatbots

Chatbots — software that works within a messaging application and is capable of receiving, interpreting commands, and sending automatic responses — can use machine learning to optimize their responses. In this way, they can better achieve their main objective: to meet the demands of consumers with a natural, precise, and objective language.

As responses are sent and received, the chatbot can identify errors and evaluate language and data about the personality of each consumer. Such records facilitate improving customer service, which generates relevant user experiences and keeps people connected to the business for a long time.

Optimizing Processes And Gaining A Loyal Consumer Base

Implementing services based on machine learning must be done with a strategic focus. The company must create security mechanisms to prevent unauthorized access to data in analysis processes and maintain a clear privacy policy.

A Cloud Computing infrastructure can also be considered. As it is more scalable, it increases the enterprise’s ability to maintain its data analysis processes more accurately and agile, reducing business costs. Thus, the company always has solutions capable of maintaining consistent good performance.

Machine learning is gaining a strategic role in business. Therefore, companies must know how to modify their routines and adopt this new technology method to achieve bold and innovative results.

Also Read: Machine Learning: What Is It And What Is The Importance

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