leveraging artificial intelligence technology to improve the bill payment experience pdfs/b6...
TRANSCRIPT
Leveraging Artificial Intelligence Technology to Improve the Bill
Payment Experience
Leveraging AI Technology to Improve the Bill Payment Experience
Luke Stowe Chief Information Officer City of Evanston, IL
Max BisschopStrategic Partnerships and Direct SalesAlacriti
AI-powered conversational interfaces are transforming how consumers engage with businesses.
Around 39 million people, or 1 in 6 Americans, now own a smart speaker – up 128% from
January 2017.
Source: NPR and Edison
Research
Smart devices like the Amazon Echo, Google Home, and Sonos One will be installed in a
majority – that is, 55 percent – of U.S. households by the year 2022.
Source: Juniper
Research
More than one Google Home device was sold every second since the Google Home Mini
started shipping in October 2017.
Source:
TechCrunch
The global chatbot market will reach $1.25 billion by 2025.
Source: Gartner
Changes in Consumer Behavior
Changing Nature of Commerce
eCommerce mCommerce Conversational Commerce
Changing Nature of User Engagement
Websites Mobile Apps Chatbots
200961% of consumers preferred assistance over the phone.
Source: eConsultancy
2014The percentage of customers who used live chat for assistance increased to 58%, up from 38% in 2009.
Source: Forrester
201765% of millennials and 55% of consumers overall welcome
chatbots in customer service.Source: HelpShift
By 2020, 85% of customer interactions will be managed without a human.
Source: Gartner
About half (49%) of smartphone owners in the US use a voice assistant at least once a week.
Source: MindShare Futures, 2017
Nearly 50% of people are now using voice search when researching products.
Source: Social Media Today, 2017
By 2020, 50% of all searches will be voice searches.
Source: ComScore, 2017
Facebook Messenger Highlights from F8
Businesses are integrating services directly into the
digital channels consumers use the most.
Book Uber via Facebook Messenger
Representative
Clients
Get Fitbit Updates via Amazon’s Alexa
Connect to American Express via Amazon’s Alexa
Shop at Walmart via Google Assistant
What does this mean for payments?
Consumers expect a conversational bill payment experience:
Anywhere
Real-time
Personalized
Context-aware
AI for Bill Payments:Messaging Apps
“What is my payment due date?”
“How much do I owe?’
“Your payment is due on July 20, 2017”
“The amount due is $286”
“I want to make a payment’
“How much would you like to pay?”
AI for Bill Payments: Voice Assistants
“Alexa, Open Access Finance”
“When is my bill due?”
“Make a payment for the entire balance due right now.”
“Welcome to Access Finance. How can I help you?”
“Your bill is due on July 15th”
“Please confirm your payment of $150 using account ending in 2345 scheduled for today.”
AI for Bill Payments: Customer Service
Increase Customer Engagement Gain Customer Insights
Improve Customer ServiceEnhance Customer Experience
Leverage data for greater personalization.
Connect with customers on their preferred digital platforms.
Make it personalized, simple, and convenient.
Seamless responses in real-time.
Benefits
Thank You.
Max BisschopStrategic Partnerships and Direct Sales - Alacriti [email protected] | (678)-628-2467
Luke StoweChief Information Officer - City of Evanston, [email protected] | (847)-448-8177