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Artificial Intelligence For The Best Customer Services

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Artificial Intelligence For Best Customer Services,Startup Stories,2018 Latest Business News & Updates,Startup Stories India,Latest Technology News 2018,AI For Best Customer Services,Artificial Intelligence Features,AI Customer Service Sector


Implementing Artificial Intelligence improves the features and working of the customer service sector. It helps the companies to handle the task easily but has some disadvantages too. It might not be possible for a human to stay on for 24/7 to serve, but it is not a problem for artificial intelligence. They can give live services irrespective of time. The problem with the robotic technology is that they can’t understand all languages or some special characters, they just work with features pre-installed in them. Let us have a brief overview of the Artificial Intelligence in customer service.

Artificial Intelligence for Sudden Change in Service Sector:

Combining Artificial Intelligence and Machine Learning gives innovative and happy results. It works efficiently with fast servers. There are no time limitations for the AI (Artificial Intelligence) systems, sometimes technical issues may be raised which can be solved in no time.

Increasing Productivity and Accuracy:

Artificial Intelligence enables customer service agents to serve a customer in better and more efficient manner. Previously customer service agents should be familiar with each and every aspects of the company, but now it is not that necessary after artificial intelligence coming to use. It also serves the customer on the real-time basis, without any delay. Artificial Intelligence also helps to gather the information quicker and accurate.

Usage of Collected Customer Data:

The huge amount of customer data collected by the companies will be as the knowledge base for the artificial intelligent system. The more the data fed into the system, the more efficient it works and handles customers efficiently.

Multiple Language Support:

All the Multi-National Companies has the customer base from different regions, who speak different languages. And it is highly impossible to set a customer care center to handle in all the languages preferred by the customers. This can be done by using machines, making a machine learn multiple languages is easy. Hence the machines can handle it without much risk.

Auto Respond to Bulk Emails:

The ticket supervision system with Artificial Intelligence helps your support center by answering instantly to some general queries. All company’s content is retrieved by the system and it helps to answer a greater number of emails automatically.

ChatBots:

Chatbots are the automatic response system which gives a response to the customer queries automatically by searching the knowledge base, company’s database and approved external sources. Chat Bots give the real time and personalized responses to the customers. By this, if the physical agent is not active, the query of the customer can be solved.

Also, Read HOW ARTIFICIAL INTELLIGENCE AND CHATBOTS WILL CHANGE STARTUPS

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Mercedes Hits the Brakes on EVs: Profit Woes Lead to Focus on Gas-Powered Cars

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StartupStories - Mercedes

Luxury carmaker Mercedes-Benz is experiencing a shift in gears, prioritizing gasoline-powered vehicles over its previously ambitious electric vehicle (EV) strategy. This comes after disappointing sales figures and shrinking profit margins for their electric offerings.

The Dream Runs out of Charge:

Mercedes, a leader in the luxury car market, had set a goal to be fully electric by 2030. However, sluggish sales of their electric vehicles, particularly the high-end EQS and EQE sedans, have forced a recalibration of their plans. The company’s profit margin dipped to a concerning 9% in the first quarter of 2024, falling below their long-term target range.

Why the Slow Charge?

Several factors are contributing to the lackluster performance of Mercedes’ EVs:

  •  Price Point Pinch: The high price tag of Mercedes’ electric cars, ranging from $70,000 to $120,000, limits their appeal compared to more affordable electric options. 
  •  Competition Heats Up: Other luxury carmakers like Tesla and BMW are offering strong competition, with some even surpassing Mercedes in EV sales growth. 
  •  Infrastructure Concerns: Gaps in charging infrastructure and anxieties about range remain significant deterrents for potential EV buyers.

Back to the Drawing Board:

In response to these challenges, Mercedes CEO Ola Källenius announced a revised strategy. The company will:

  •  Extend Focus on Combustion Engines:  Production of gasoline-powered and hybrid vehicles will continue well into the 2030s, catering to customer demand.
  •  Rethink EV Strategy: Mercedes will analyze consumer preferences and market trends to refine their electric car offerings. This may involve focusing on more affordable models or improving features to enhance range and charging efficiency.

The Road Ahead

The shift by Mercedes highlights the complexities of the automotive industry’s transition to electric vehicles. It underscores the need for car manufacturers to balance ambitious environmental goals with the realities of consumer behavior and market competition.

Is this a Permanent Pause?

While Mercedes is putting the brakes on its all-electric vision, it doesn’t necessarily signal a complete retreat from EVs. The company may leverage this time to strengthen its electric offerings and ensure they are competitive in the rapidly evolving market. Only time will tell if Mercedes can reclaim its position as a leader in the electric vehicle race.

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Artificial Intelligence

Reddit Soars After Strong Earnings and Upbeat Outlook

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Reddit, the social media platform known for its online communities and meme culture, saw its stock price jump significantly after releasing its first earnings report since going public in March. Investors were impressed by the company’s strong financial performance and optimistic forecasts for the future.

The report highlighted a surge in user engagement, with daily active users increasing by 37% to 82.7 million in the first quarter. This growth was accompanied by an 8% rise in average revenue per user, indicating Reddit’s success in monetizing its platform. 

Perhaps the most significant factor driving the stock price increase was Reddit’s forecast for the second quarter. The company projected revenue to fall between $240 million and $255 million, exceeding analyst expectations. Additionally, Reddit anticipates achieving break-even status or even generating a profit, surpassing predictions of a loss.

This positive outlook can be attributed in part to Reddit’s flourishing advertising business. The company is also capitalizing on a new revenue stream: content licensing deals with artificial intelligence (AI) firms. Reddit’s vast collection of user-generated content provides valuable data for training AI models, attracting companies like Google.

Analysts believe Reddit is still in its early stages of monetization and predict continued growth in the coming quarters, fueled by advancements in ad targeting and measurement tools. This optimism is reflected in the stock price surge, which has climbed roughly 70% since Reddit’s IPO.

Overall, Reddit’s first earnings report paints a bright picture for the company’s future. With a thriving user base, increasing revenue opportunities, and a promising outlook, Reddit appears well-positioned for continued success in the ever-evolving social media landscape.

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Artificial Intelligence

The AI Video Revolution: How Sora is Reshaping Marketing

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Sora, an AI-powered video generation tool by OpenAI, has sent ripples of excitement through the marketing world. Its potential to create high-quality videos from simple descriptions is a game-changer, impacting how brands connect with audiences. 

Here’s how Sora is elevating engagement:

  • Hyper-realistic storytelling:  Sora can craft visually stunning videos in seconds. This lets marketers ditch expensive productions and create content that resonates deeply with viewers. Imagine a travel company whisking audiences away to exotic locales through captivating, AI-generated videos.
  • Personalized marketing on steroids:  Imagine video ads that speak directly to you, not a generic audience. Sora can personalize video content based on user data, creating a more impactful connection. A fitness app could use Sora to generate videos featuring exercises you enjoy, making the marketing message relevant and engaging.
  • Experimentation playground:  Sora empowers marketers to experiment freely.  Since creating video content becomes faster and cheaper, brands can test new concepts and narratives without breaking the bank. This fosters a culture of creativity and allows marketers to discover what truly clicks with their audience.

Of course, there are challenges. Integrating Sora seamlessly into existing workflows and maintaining the human touch in storytelling are aspects that require development. But Sora’s potential to revolutionize marketing by creating  engaging, personalized content at scale is undeniable.

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