Automation in the fields of customer service and employee onboarding may seem counterintuitive as it would appear to take away the human touch in dealing with stakeholders. Deploying chatbots and automated knowledge centers, for example, can be perceived as impersonal and insincere. There is a concern that its use would displease customers.
Sagi Eliyahu, Chief Executive Officer at KMS Lighthouse, has a different perspective of automation in the customer service and human resources fields. He draws from extensive experience leading a company that provides knowledge management systems for enterprises in asserting the benefits of automated systems.
Eliyahu believes that artificial intelligence (AI) and machine learning (ML) are no longer potential game-changers but real innovation drivers. “While there’s certainly a lot of hype to wade through before getting to its true capabilities, putting AI and ML into practical use for knowledge management purposes promises to transform organizational efficiency and competitiveness,” he says.
The metrics can speak for themselves, as KMS Lighthouse has brought about gains in performance, efficiency, and satisfaction for enterprise, government, and financial services clients around the world.
AIG reported a 150 percent increase in ROI performance over its original forecast. Similarly, Mizrahi Tefahot, one of Israel’s largest banks, noted a 15 percent reduction in customer call durations. The Israeli government cited a 20 percent increase in citizen satisfaction after deploying KMS Lighthouse. Tel-Aviv’s Sourasky Medical Center achieved a 40 percent rise in patient satisfaction by using KMS Lighthouse in employee training.
The roles of AI and machine learning
The combination of AI and ML, and knowledge management are powerful drivers of automation. “ML and AI are helping to address modern knowledge management challenges by making content more easily discoverable and shareable. Integrating AI and ML into a knowledge management system builds intelligent searches that result in greater productivity while improving how content is utilized,” Eliyahu adds.
Automation, e-commerce, and AI have become popular buzzwords during the pandemic. Digital transformation enables companies and individuals to cope with the impact of lockdowns and physical distancing rules on business.
Some may say that the pandemic has been a blessing in disguise, Eliyahu thinks companies are being “fortunately” forced to embrace artificial intelligence and automation for the benefit of their business operations.
“Backed with strong data analytics, machine learning is revolutionizing how businesses automate processes, gain insight through data analysis and engage with employees and customers,” Eliyahu says.
Automation is no longer just an option
Even with the economic disruption brought about by COVID-19, automation appears to be on track to play a prominent role in customer care and employee onboarding. It can even be argued that the pandemic has bolstered the demand for automation solutions as evidenced by the growth KMS Lighthouse has experienced recently.
The company saw a 90 percent year-on-year growth for H1 of 2020 after onboarding new customers and expanding existing accounts. It is riding on the same growth trend other Israeli firms such as Wix (NASDAQ:WIX) and Fiverr (NYSE:FVRR) are enjoying even during a pandemic and global recession.
The global knowledge management software market is projected to be worth $33 billion by 2023, expanding at a CAGR of approximately 12 percent for the 2017-2023 period. Automation will be a fixture in the next normal, and businesses that refuse to embrace it will be putting themselves at a severe disadvantage.
Eliyahu, however, cautions businesses and individuals from perceiving automation as a silver bullet that kills off all enterprise problems. “On its own, especially if it’s implemented hastily, automation software possesses limited value. Moreover, the answer to your organization’s woes—those inspired by COVID-19 and those that were around before the pandemic, is not simply to automate every task but empowering employees and customers with knowledge”, he says.