Artificial intelligence has become like a handy Swiss Army knife for businesses—great for boosting sales, improving efficiency, and connecting with customers. But new research from Texas McCombs looks at another way AI can be a force for good in society.
It can help businesses serve people who face challenges in accessing and controlling important resources, like those with limited options in the marketplace.
“AI is widely recognized for its operational and financial benefits, but it also holds promise for harnessing social good and helping businesses adopt socially responsible practices,” the researchers explain.
Support with challenges
They created an AI system that businesses can use to spot consumers facing challenges, address their specific needs, and reduce potential discrimination and inequalities.
By making customer service easier to access, more engaging, and more adaptable, AI can empower vulnerable consumers to better grasp specific information, enabling them to make more informed decisions.
For instance, existing AI tools allow businesses to analyze how consumers speak and react, offering real-time feedback to customer service reps and suggestions for improving interactions.
We’re all sometimes vulnerable. Vulnerability isn’t constant but can change. Cognitive and physical limitations, as well as emotional distress like job loss or personal setbacks, can affect a person’s judgment.
Understanding vulnerability
This updated definition of vulnerability opens up new possibilities for AI technologies to contribute to social good. With improvements in machine learning and natural language processing, AI can now recognize vulnerable consumers and assist employees in better serving and empowering them.
Recent reports highlight that customer service agents often aren’t aware when dealing with vulnerable consumers. AI, however, can analyze consumer chat responses in real-time, using cues to create a risk score for agents.
When AI identifies vulnerability, it can provide customer service agents with personalized tips and suggest specific measures. For instance, if a consumer seems overwhelmed or has difficulty understanding information, AI can recommend that agents explain options using simple language, including the pros and cons.
Although investing in designing and integrating AI into customer service is required, the benefits in both financial gains and reputation make it a worthwhile endeavor for businesses.
“Doing good often pays off,” the authors conclude. “When effectively implemented, businesses utilizing AI to empower their vulnerable customers can expect a positive spillover, fostering increased loyalty, improved customer satisfaction, and boosted profits.”
