Tricky Balancing Act: Bots are Efficient, Humans are Essential
Chatbots are a powerful tool for assisting small and medium-sized businesses (SMBs) and banks with customer interactions on their platforms. They offer significant cost-effectiveness by reducing overhead, and provide scalability by handling multiple conversations simultaneously.
Additionally, chatbots can gather and analyze customer data to help organizations improve their services and tailor their offerings. There are important limitations to what chatbots can do. They have a limited understanding of nuanced or complex queries and often lack the emotional intelligence necessary to build trust and connect with customers who are seeking more personalized support. Chip Higgins and Ashleigh Ashbrook from Michigan State University Federal Credit Union will discuss how to strike the right balance between automation and human interaction to deliver a seamless and satisfying customer experience for the small businesses they serve.
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