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CISCO SYSTEMS (CSCO)
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Cisco : Artificial Intelligence in Customer Care

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02/15/2018 | 12:51am CEST

Workflow applications are ripe for disruption with the advent of artificial intelligence (AI). The magic of AI is tied to big data and the AI models. Customer care organizations that have access to rich datasets are prime candidates to ride the AI wave of change.

Companies will always look for ways to improve their profit margins, along with creating new and improved customer experiences. In the early stages of AI implementations, some aspects could be more hype than actual substance. But on a high level, artificial intelligence will transform the customer care world in three areas:

1. Digital customer experience

Chatbots are the most common way companies are implementing AI in customer care today. According to research by BT, almost 80% of customers surveyed are open to using chatbots for quick and simple queries. The trick is to design and offer chatbots that best fit your customers' needs. Many companies are currently in a trial phase, in which organizations try out a few ideas, rapidly access feedback, and refine what works and what does not. A few months into such a trial, you can make better strategic decisions about how best to use chatbots to serve your customers.

2. Intelligent routing

AI will help enable intelligent routing like never before. The magic here is access to the customer journey data. One example of intelligent routing is being able to gather Internet of Things (IoT) data and proactively engage with a customer. More than 75% of those surveyed like it when organizations notice that they are having a problem online and contact them directly to help. Other areas where we could see benefits are agent demand forecasting and staffing, and fraud detection and prevention.

3. Agent productivity

The advent of AI should not be seen as potentially leading to a reduction in agent staffing. Rather, its real benefits are in helping agents be even more productive. AI-induced automation will also optimize the use of live agents, allowing them to resolve problems faster, waste less time handling routine inquiries, and provide a better customer experience. This is where your agents turn into experts. You can use AI for identity management, agent insights, reporting, prepopulation of forms, and a variety of other functions.

Download the white paper 'AI in contact center and chatbot strategies ' for more information.


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Cisco Systems Inc. published this content on 14 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 February 2018 23:50:05 UTC.

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Financials ($)
Sales 2018 49 256 M
EBIT 2018 15 300 M
Net income 2018 -877 M
Finance 2018 25 610 M
Yield 2018 2,79%
P/E ratio 2018 -
P/E ratio 2019 17,74
EV / Sales 2018 3,66x
EV / Sales 2019 3,64x
Capitalization 206 B
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 48,8 $
Spread / Average Target 12%
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Managers
NameTitle
Charles H. Robbins Chairman & Chief Executive Officer
Tiang Yew Tan Senior Vice President-Operations & Digital
Kelly A. Kramer Chief Financial Officer & Executive Vice President
Guillermo Diaz Chief Information Officer & Senior Vice President
Roderick C. McGeary Independent Director
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