Increasing Agent Capacity with Intelligent Virtual Assistants

Intelligent virtual assistants (IVAs) for voice and digital customer interactions are critical in driving artificial intelligence (AI) outcomes in the contact center.

Increasing agent capacity is the name of the game, and IVAs help businesses achieve it by providing self-service that contains customer interactions and improves first contact resolution (FCR).

Rudimentary chatbots and interactive voice response (IVR) systems rely solely on pre-determined customer journeys, often failing to truly understand a customer’s need. On the other hand, AI-powered IVAs can understand a wider range of customer intents and accurately resolve issues.

In this report, we explore the benefit of using AI to power self-service, the outcomes that can be achieved, and real-world case studies of successful IVA implementations.

How AI Delivers Better
Self-Service Outcomes

Brands that use AI for self-service are up to twice as likely to achieve better outcomes.

Businesses using AI to deliver self-service are much more effective at achieving higher containment and first contact resolution rates, across both digital and voice channels. This is essential for increasing agent capacity, allowing businesses to either lower their support costs or reassign agents to revenue-generating initiatives and complex issues that require the human touch.

  • Self-Service Containment Rate

    • Digital

      1.5x

      more effective with AI
    • Voice

      2x

      more effective with AI
  • First Contact Resolution Rate

    • Digital

      2x

      more effective with AI
    • Voice

      2.1x

      more effective with AI

Ready for better self-service outcomes?

Get a Demo

Building Confidence in AI for Self Service

AI gives CX leaders confidence in their ability to meet future self-service demands.

Using AI to deliver self-service doesn’t just help businesses generate outcomes today. CX leaders who are already harnessing AI are significantly more likely to be highly confident in their ability to meet customers’ needs two years from now. Businesses using AI to deliver self-service recognize the value it generates, and this breeds confidence for future contact center performance.

Confidence in meeting customer needs two years from now

  • Digital Self-Service

    with AI 65%
    without AI 45%
  • Voice Self-Service

    with AI 52%
    without AI 24%

Businesses Are Continuing to Invest in AI for Self-Service

Over half of businesses are increasing their spend on the technology.

Given that CX leaders who are already utilizing AI feel more confident about meeting future self-service needs, it’s no surprise that 89% of businesses using AI-powered IVAs plan to maintain or increase their spending over the next 12 months.

This suggests that businesses are seeing a return on their investment and are continuing to invest further to increase interaction containment and first contact resolution rates, helping to improve agent capacity.

Get a Demo

Expected change in spending on AI for self-service during next twelve months

89%
Plan to maintain or increase spend

There Are Opportunities for Increased AI Self-Service Deployment

Almost half of businesses using AI for self-service aren’t deploying on voice and digital.

  • Digital and Voice

    53%

  • Digital Only

    36%

  • Voice Only

    11%

How Businesses Are Using AI for Self-Service

Of the businesses using AI for self-service, 53% are using AI across both voice and digital channels. A combined 46% are using it for either voice or digital.

Businesses may have a specific need to only deploy AI for self-service for digital or voice, or they may simply be restricted by the limitations of their technology. In contrast, solutions such as Verint Intelligent Virtual Assistant can be used across any channel to increase containment and first contact resolution.

Learn More

Many Businesses Are Yet to Implement AI-Powered Self-Service

Almost half of businesses are at risk of falling further behind.

Despite businesses using AI for self-service being around 2x more effective at achieving higher containment and first contact resolution rates, 47% of respondents are yet to implement AI for self-service and therefore missing the opportunity to deliver AI outcomes in the contact center through increased agent capacity.

And, because 89% of businesses that are already using AI for self-service are either maintaining or increasing their spend over the next 12 months, latecomers are at risk of falling even further behind.

  • Use AI for Self-Service

  • Don't Use AI for Self-Service

AI Self Service for Late Adopters: Getting Started

Almost three-quarters of businesses not using AI for self-service today plan to in next 12 months.

Of all businesses not using AI for self-service, 76% plan to do so over the next year.

Broken down by company size, only 26% of larger companies (2,500> employees) are yet to implement AI for self-service, and 20% plan to do so in the next 12 months. The most cited reason for implementing AI for self-service is to increase containment (60%), which is a key factor in increasing agent capacity. For smaller companies (2,500< employees), 61% haven’t yet implemented AI for self-service, but 46% of those plan to start in the next year.

  • Plan to use in the next 12 months

  • Do not plan to use in the next 12 months

We Asked CX Leaders about Their Priorities for the Next 12 Months

AI-powered self-service can help achieve each of their priorities.

Get a Demo
  • Improving first contact resolution in this multi-channel environment.

    Senior or Global Vice President, Insurance

  • To ensure high-quality responses while focusing on faster resolution.

    Director or Senior Director, Healthcare

  • Reducing our average handle time without losing on the service quality.

    C-Level Executive, Travel

  • Increasing first call resolution while maintaining a low agent churn rate.

    Director or Senior Director, Financial Services

  • Achieving better response time for digital channels.

    Senior or Global Vice President, Insurance

  • Improving our average handle time and customer satisfaction while balancing our agents’ workload.

    C-Level Executive, Retail

Verint Intelligent Virtual Assistant for AI Self Service

Businesses are already saving millions of dollars with AI-powered solutions such as Verint Intelligent Virtual Assistant.

Are you ready to maximize your self-service with AI? Currently, 53% of businesses are self-service effectiveness, and are up to twice as likely to achieve successful outcomes as those who don’t use AI. For those yet to adopt this technology, 76% plan to do so within the next year. The time for action is now!

Get a Demo
  • $10M
    Saved Annually

    A bank contained >10M digital interactions with 80% containment rate

  • $10M
    Saved Annually

    An insurer contained 10M digital interactions at a 67% containment rate

  • $6M
    Saved Annually

    A travel firm contained 6M digital interactions at a 95% containment rate

Increasing Agent Capacity with Intelligent Virtual Assistants

Download the PDF version of this report.

Download Now