Conversational AI deployment can reduce agent labour cost by $80bn: Gartner
Conversational artificial intelligence (AI) at contact centres—places where organisations manage customer interactions—will by 2026 reduce agent labour costs by $80 billion, according to Gartner.
Worldwide spending on conversational AI solutions at contact centres is forecast to reach $1.99 billion in 2022, said the research and consultancy firm. “Gartner estimates that there are approximately 17 million contact center agents worldwide today,” said Daniel O’Connell, VP analyst at Gartner. “Many organizations are challenged by agent staff shortages and the need to curtail labour expenses, which can represent up to 95 per cent of contact center costs. Conversational AI makes agents more efficient and effective, while also improving the customer experience.”
Gartner projects that one in 10 agent interactions will be automated by 2026, an increase from an estimated 1.6 per cent of interactions that are automated using AI today. Conversational AI can automate all or part of a contact center customer interaction through both voice and digital channels.
“While automating a full interaction – also known as call containment or deflection – corresponds to significant cost savings, there is also value in partial containment, such as automating the identification of a customer’s name, policy number and reason for calling. Capturing this information using AI could reduce up to a third of the interaction time that would typically be supported by a human agent,” said O’Connell.
While the benefits of conversational AI are compelling, the technology is still maturing. A fragmented vendor landscape and complexity of deployments will result in measured adoption over the next two years.
“Implementing conversational AI requires expensive professional resources in areas such as data analytics, knowledge graphs and natural language understanding,” said O’Connell. “Once built, the conversational AI capabilities must be continuously supported, updated and maintained, resulting in additional costs.”
Gartner estimates integration pricing at $1,000 to $1,500 per conversational AI agent, though some organizations cite costs of up to $2,000 per agent. Therefore, early adoption of conversational AI will be primarily led by organizations with 2,500 or more agents with budget for the requisite technical resources.