By Rashi Gupta (Co-founder and Chief Data Scientist at REZO)
Technology for MSMEs: The world, currently, is running on data. It is perhaps the most important resource for most organizations in the world, be they government or private. Unlike all other resources, data is not getting scarce. On the contrary, we are generating more and more of this resource with every passing day. An organization with relevant data in the correct format with the know-how to use it is practically sitting on a gold mine.
Data theft is one of the most common cyber crimes currently happening across the world. Data theft can not only lead to a loss in business but also IPRs and the reputation of an organization. In extreme cases, it can even put the lives of people at risk. Data theft from an organization can happen due to various reasons. However, data theft during the customers’ interaction with the company is the most common. Large corporations employ multiple cybersecurity products and personnel to keep the networks and data safe. However, still they cannot be 100 per cent assured of their cyber safety. The recent cyber attack on AIIMS, New Delhi where the data of thousands of patients was under threat, is an example of the vulnerability of organisations in the cyber world. The situation with MSMEs is much worse.
MSMEs have a very limited number of employees. More often than not, they are also crunched for capital and other resources. The majority of MSMEs are under the misconception that they are too small to be of interest to any cyber-criminal. For most MSMEs, it is financially impractical to employ high-end cybersecurity products or professionals, especially for their customer service departments. Customer service departments are known to be the weakest link in any organization’s network. Due to this, they become the most preferred target for cyber predators.
Voice automation with AI: The game changer
In the future, the number of scammer attacks on customer contact centers is only going to increase. They will not only increase in numbers but also in sophistication and severity. As the traditional tools of security are proving to be more or less futile, it is time to introduce AI automation to stay one step ahead of cybercriminals. AI automation provides several advantages to customer contact centers that not only prevent scams and data theft but also help take timely measures to minimise damage in case of any incident.
Reduces the possibility of human error
One of the most critical reasons for the success of scammers is their ability to trick human agents. Besides, humans are prone to make mistakes under the influence of emotional stress, mood, fatigue, etc. Automation with AI removes any such possibility. It uses preset protocols and follows algorithms to make sure that every process is followed thoroughly during every interaction with the customer or scammer.
Voice recognition is one of the key aspects of contact centers automation. Automation with AI can create a library of customers’ voices and compare the voice of the callers to those stored in the library. By this, it can verify the customer’s identity with voice and hasten the process of customer service. More importantly, establishing the customer’s identity through voice recognition also eliminates the need for customers to say or input their account details, passwords, pins, or any such information that could be used for scams. Automated AI contact centers can also be programmed to identify and recognize the nuances of one’s speech.
What makes AI driven contact centers the perfect choice for MSMEs
Although switching to AI-powered customer contact centers is the right choice for organizations of all sizes, it is particularly important for the MSMEs. For smaller organizations, any solution needs to be cost-effective and simple. When compared to outsourcing to traditional customer contact centers, AI-powered contact centers come at a fraction of the total cost. There is no training required for the Conversational AI bots and can be up and running in no time. Conversational AI can be made available to serve customers 24X7 at practically no extra cost. In case there are season hikes in customer calls, the system can easily be scaled up to meet the higher inflow. In simpler words, besides providing a potent shield against data theft, conversational AI provides several other benefits like efficiency and cost-effectiveness.
Rashi Gupta is the Co-founder and Chief Data Scientist at REZO. Views expressed are the author’s own.