The global bank and McKinsey collaborated closely to develop, test, and launch a customized customer-facing chatbot that meets customer requirements using cutting-edge AI technology.
NG receives 85,000 phone and online chat requests
every week in its main market, the Netherlands. The traditional chatbot
successfully resolves 40–45% of these interactions, but a weekly average of
16,500 clients require assistance from a human representative. Customers can
only get live assistance for non-urgent inquiries within the designated
business hours, perhaps resulting in longer waiting periods.
The capacity of generative AI to engage with
human language in innovative manners enabled QuantumBlack, McKinsey's AI arm,
and ING to investigate the potential of advanced chatbot technology in
enhancing the customer experience and delivering instant support.
Creating advanced chatbot capabilities
ING and McKinsey partnered for seven weeks to
develop a generative AI chatbot that offered immediate support in mitigating
evident risks. To identify problems, the team conducted a thorough analysis of
the chatbot. The ultimate solution employed a multi-step pipeline to extract
knowledge from various data sources and assess the helpfulness of answers,
thereby providing the consumer with the most optimal response. The system would
disambiguate and provide the client with options based on the many useful replies.
Ultimately, precautionary measures were taken before addressing the customer's concerns. In the beginning, ING included risk stakeholders and utilized QuantumBlack Labs, McKinsey's AI and machine learning innovation hub, to create custom safeguards that prevent the provision of mortgage and investment advice.
Picture courtesy: mckinsey.com
During testing days, a proportion of 10% of Dutch
mobile app support chat users were assigned the Gen AI chatbot. Superior to the
conventional chatbot, it provided clients with more comprehensive and precise
answers, thereby facilitating a speedier resolution of their inquiries. Since
September 2023, the pioneering AI chatbot has been utilized by a multitude of
consumers, marking the inaugural real-life customer-facing trial in Europe.
The chatbot was developed and implemented
significantly faster than previous industry-standard chatbots, which typically
require several years to achieve optimal performance. Within only seven weeks,
the newly implemented chatbot successfully assisted an additional 20% of
customers in avoiding extended waiting periods and achieving quicker
satisfaction compared to the previous alternative. With advancements in
technology, an increasing number of clients may opt for a chat instead of
making phone calls, reducing the workload on ING's call centers.
ING prioritized skill development in over 50 support areas within the Risk,
Contact Center, Analytics Office, and Technology departments. This was done to
empower these departments to independently expand their AI initiatives.
The ING and McKinsey collaboration devised a
strategy to enhance chatbot performance twofold over six months.
The Article is Based on:
.jpg)
.jpg)
0 Comments