Artificial Intelligence (AI) is transforming how we communicate and solve problems in our daily lives, from self-driving cars to voice assistants (Alexa, Siri), smart home devices, search engines, image and facial recognition, and customer service.
Chatbots have sped up reply time for complaints in contact centers and handle recurring queries. Predictive analytics algorithms use customer data and interaction history to predict customer behavior and preferences.
Intelligent routing algorithms use customer data and interaction history to route calls to the most appropriate agent or department. To mention a few.
AI is doing the same with call transcription. How?
AI Transcription. We’ll get into details in this article.
Let’s look at…
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AI in Contact Center
Artificial Intelligence (AI) is revolutionizing the way contact centers operate. By leveraging AI technologies, contact centers can provide personalized and timely customer support while streamlining operations and reducing costs.
From AI-powered chatbots and voice assistants to speech recognition, natural language processing, predictive analytics, and sentiment analysis, contact centers are seeing improved maximizing speed in query resolution and improving customer satisfaction levels.
To help your sales and customer service agents maximize productivity and efficiency, Aloware features AI Transcription and AI Bot.
These two AI solutions can help raise the bar of your contact center service delivery, save costs, be future-proof, and be ahead of customer service demands.
To understand AI Transcription, let’s understand its application in call transcription.
What is Call Transcription?
Call transcription converts spoken conversations from phone or video calls into written text, which can be produced in real-time or after the call has been recorded.
Its primary purpose is to assist your business in various areas, such as analysis, customer feedback, compliance, and marketing to some extent.
By transcribing calls, you can obtain a detailed record of conversations, which provides crucial insights into customer behavior, needs, and preferences.
This information can be used to improve sales techniques, optimize marketing strategies, and ensure compliance with legal and regulatory requirements.
Now, using the line “everybody wants to know what call transcription would be like if there wasn’t AI Transcription… ” as context, let’s look at two types of call transcription.
- Manual Transcription
- AI Transcription
Manual transcription is the process of transcribing phone conversations into written text.
It is typically done by your contact center agents or a human transcriptionist who listens to the audio recording of calls and manually types out the conversation.
The process is quite challenging, money, and time-consuming. According to Scribie’s data, AI transcription can transcribe a 60-minute file in 10 minutes, while human transcription can take up to 36 hours.
It isn’t far-fetched to imagine what call transcription would be like without AI transcription.
On the other hand, AI transcription uses artificial intelligence and machine learning algorithms to transcribe phone conversation audio recordings into written text automatically. The technology can identify different speakers, interpret different accents, and recognize specific words or phrases.
Aloware provides AI transcription, combining the advanced features of an AI bot to listen to your calls and highlight the essential keywords, sentiments, and critical moments.
So, Why AI Transcription?
According to a report by Salesforce, 66% of customers expect companies to understand their unique needs and expectations and are not treated like numbers.
Another report by Forbes states that customers want personalized, valuable, and immediate experiences from any business they engage with. A survey by Zendesk reveals that more than 65% of people have higher expectations for customer service today than three to five years ago.
These statistics suggest that customers want your company to understand their expectations and needs at a high level and that this demand is increasing over time.
AI transcription increases your contact center’s capacity to understand and deal with customer needs with prompt responses to complaints.
Features of AI Transcription For Your Call Center
Aloware’s AI transcription solution offers a range of features that can help your contact center operate more efficiently.
- Ultra-fast call transcriber
- Generate sentiment analysis
- Call visualizer
- Real-Time stats & reporting
Ultra-fast call transcriber
Agents can transcribe long conversations into written form in a matter of minutes.
AI-powered algorithms can then further analyze this text, which can detect specific keywords and the caller’s tone. It also highlights parts of the conversation that may interest supervisors.
All this information is available in real time through a dashboard interface. Providing contact center managers with valuable insights into the content and context of customer-agent interaction.
Generate sentiment analysis
By combining sentiment analysis with AI transcription, you can better understand the emotions and attitudes expressed in customer interactions.
This information can help you improve sales processes or service delivery, tailor marketing strategies, and develop better customer experiences.
Moreover, sentiment analysis can also aid in identifying potential customer churn or dissatisfaction before it becomes a bigger problem.
You can see a call’s tone as generally positive, negative, or neutral for a single call, a group of calls, or across team or ring group members. Using this feature, you can guide your team to success with relevant training.
With the help of a call visualizer, you can quickly and easily identify trends and patterns in call data.
Track the number of calls, call durations, hold times, and other relevant metrics that can help you to identify any bottlenecks or inefficiencies in your sales interactions and take corrective measures.
Aloware’s AI engine features an audio player that locates critical parts of conversations, diving deeper to confirm tone of voice, mood, or statements. You can review thousands of calls and create efficient training processes that deliver winning conversation outcomes.
Real-Time stats & reporting
You don’t have to wait until the end of a call to see a prospect or customer’s recurring ask or challenges.
See word clouds, sentiment graphs, and real-time dashboards that track conversation performance metrics across your team. Even with customizable keywords and phrases.
This way, your sales agents or customer care representatives can tailor their replies to win prospects over or meet customers’ needs.
What are the Benefits of AI Transcription?
- Increased accuracy
- Cost Saving
- Improved efficiency
- Enhanced customer service
- Valuable insights
One of the most significant advantages of AI transcription technology is its ability to transcribe calls with a high degree of accuracy.
While this technology is still improving and isn’t at a 100% accuracy level, you can get up to 85% accuracy.
Aloware’s AI transcription uses advanced algorithms and machine learning to produce highly accurate transcripts.
This means that call center agents can rely on the transcripts to provide a complete and on-point record of customer interactions.
AI transcription technology doesn’t only save money but also time costs.
So you don’t only save money that would have been used to hire a transcriptionist but also time cost, which is the amount of time it would take your agents to complete the transcription of a call.
Google Cloud claims AI transcription can reduce handling time by providing deep interaction context and turn-by-turn guidance on the conversation flow based on customer intent.
Gartner further predicts that conversational AI deployments within contact centers will reduce agent labor costs by $80 billion by 2026.
From these statistics, implementing AI transcription can save significant money for your contact centers in the long run.
AI transcription gives you a faster call transcription in real-time. And allowing your contact center agents to access transcripts immediately after a call ends.
Your contact center can reach a higher level of efficiency. Combining the features of the AI bot, you can handle multiple customer queries simultaneously, reducing wait times and providing quick responses.
Make Better Decisions
You can capture and analyze vast amounts of data from customer interactions, easily extract and analyze information to identify trends; and gain insights into customer preferences and needs.
Your business can also find areas of improvement in customer service, product offerings, and overall business operations.
For instance, your business can use AI transcription to analyze call transcripts and identify recurring customer issues or complaints.
Valuable insights from analyzing call transcripts can inform decisions to develop targeted solutions that address these issues and improve customer satisfaction.
Aloware’s Real-Time Stats feature allows you to see every conversation happening in real-time. We also provide instant feedback so that the following call conversation is even better.
So What Next?
Overall, AI transcription technology has revolutionized call transcription in contact centers. It has provided increased accuracy, efficiency, customer service, valuable insights, and cost savings.
Aloware eases integrating AI transcription into your contact center to improve customer satisfaction and productivity and obtain better analytics and insights.
Start by choosing the right solution. Let’s get you started.