Why This Voice AI Company Hasn't Touched Inbound Calls Yet πŸ‘€

Β· Source: AssemblyAI Β· Field: Technology & Digital β€” Artificial Intelligence & Machine Learning, Project & Product Management, Banking & Financial Services Β· Depth: Intermediate, quick

Summary

A speaker discusses the current landscape of AI-driven call solutions, noting that traditional Interactive Voice Response (IVR) AI solutions for inbound calls have about 35% market saturation in the banking and credit union sector. Their company initially focused on outbound calls, a less saturated market, demonstrating quick return on investment (ROI) and building client trust. This success has led clients to request inbound solutions. The primary barrier to fully adopting inbound AI, beyond technology, has been the lack of a solid, up-to-date knowledge base. While Generative AI (GenAI) improves knowledge management, issues remain regarding document currency, relevance, and direct applicability to consumer queries. To address this, the company is first implementing an internal knowledge base for client contact center teams to assess documentation quality before deploying inbound AI.

Key takeaway

For entrepreneurs considering AI solutions in customer service, your initial focus on an underserved area like outbound calls can quickly prove value. This success can then organically drive demand for more complex offerings, such as inbound AI. However, ensure your clients have a robust, current knowledge base in place before deploying inbound solutions, as data quality is paramount for AI effectiveness.

Key insights

Outbound AI success builds trust, opening doors for inbound solutions, but robust knowledge bases are critical.

Principles

Method

Implement an internal knowledge base for client contact centers to validate documentation quality before training and deploying inbound AI solutions.

In practice

Topics

Best for: Entrepreneur, AI Product Manager, Director of AI/ML, AI Operations Specialist

Related on AIssential

Open in AIssential β†’

Editorial summary, takeaway, and curation by AIssential. Original article published by AssemblyAI.