The Secret To Happier Employees And Satisfied Customers

The world is discovering how powerful AI is in so many areas of our lives. In business, companies are using AI to interpret data, manage inventory, predict trends, support customers, make employees more efficient and productive, and much, much more.

Ten years ago, AI solutions were cost-prohibitive for many companies, especially SMBs. Only the largest companies with deep pockets could afford it. Today, it’s not only less expensive – within the reach of even the smallest businesses – but now, it’s even better. I compare this to how computers. Not all that many years ago, a computer cost hundreds of thousands of dollars and took up an entire room, and now we hold even more power in our hands in the form of a cell phone—which might cost nothing if you find the right promotion from one of the cellular carriers.

In a recent Amazing Business Radio interview, I talked with Jim Payne, the director of product marketing and customer engagement at RingCentral , about a study that was recently published with Metrigy Research Corp., How AI is Changing Employee & Customer Experiences .

One of the report's findings focused on the investments companies are making in CX (customer experience) and EX (employee experience). Companies were asked, “What are your plans to use AI for customer or employee interactions?” I was pleasantly surprised to learn that responses between the two were nearly identical:

· For customer interactions, 48.7% are currently using AI, and 33.5% plan to do so this year.

· For employee interactions, 48.6% are currently using AI, and 33.8% plan to do so this year.

Most companies focused on using AI for customer interactions in the form of digital self-service customer support. The goal was to give control to the customer for simple needs, such as checking the status of an order, checking a bank balance, and other questions or issues that don’t require a live agent. For the customer, it’s a faster way to get the information they need. For employees, they no longer have to spend time on simple, even menial tasks, and can focus on more complex issues that take more time.

Payne refers to this boost in efficiency as Artificial Augmentation, making customers and employees more productive, with the biggest benefit of saving time. Payne shared the perfect metaphor. “If I need to clear 100 acres of overgrowth and I gave you an ax, how long would it take you? A long time. But if I hand you a chainsaw, you could get it done much faster.”

This type of efficiency is happening in the customer support center. The research found that 40% of companies say AI reduces the number of customer interactions requiring live support. When live support is needed, calls are an average of 39% shorter. Payne gets excited and exclaims, “What would you do with nearly half your time back? That’s amazing!”

AI enhances the employee experience beyond efficiency. It creates less stress. The right solution provides employees with easy access to information, empowering them to create a better customer experience. The happier your employees, the more engaged they will be. And, happier and less stressed employees translates to higher employee retention.

And regarding the cost of AI, as mentioned, it’s affordable for any size company. Even small companies are now able to buy into an affordable AI solution. Payne said, “You’re able to do a lot more with less spending. Back in the day, if you wanted to use artificial intelligence, you needed a team of data scientists, you know, PhDs who are helping you do all your data labeling and managing your models.”

AI is transformative, reshaping the way the world works. It’s more than just a tool for increasing efficiency. It enhances the customer’s experience. It helps make employees more efficient, productive, empowered, and happy. It reduces turnover. As businesses adopt AI, they are investing not only in technology but also in a better future for everyone involved. This is more than just progress. It’s a shift where everyone, from the Fortune 50 to companies with less than 50 employees, can thrive.

Shep Hyken is a customer service and customer experience expert, keynote speaker, and New York Times bestselling business author.?Learn more about Shep's virtual?training programs and follow #ShepHyken for more customer service and experience insights.

This article was originally published on Forbes.com .

Check out Shep's latest research in his Achieving Customer Amazement Study , Sponsored by RingCentral .