Key Points
- Next generation Artificial Intelligence a key source of concern.
- RBC expects the dominance of fully automated 'conversational AI' by 2043
- ChatGPT, an advanced AI language model developed by OpenAI, is capable of understanding and generating text based on the prompts you give it, represents a significant leap in natural language processing.
Next generation Artificial Intelligence a key source of concern
ChatGPT, an advanced AI language model developed by OpenAI, is capable of understanding and generating text based on the prompts you give it, represents a significant leap in natural language processing. Enabling AI to generate coherent, contextually relevant, and almost human speech-like text responses in a conversational manner is a significant step change. The key characteristics of ChatGPT’s AI model - Generative; Pre-trained; Transformer – give it a wide range of applications, from answering questions to helping users draft content, translate languages, etc. Since Open AI used human AI trainers to fine tune the language models and utilized human feedback and reinforcement learning techniques to ensure a best-in-class experience for us all, Chat GPT can provide timely, accurate, and contextually relevant responses to whatever question you ask it (most of the time). So how will it affect the customer service industry?
Application to the CX industry
RBC highlights two specific academic papers that lay out which parts of the customer service industry could be affected by the new AI disruptive tools: the University of Pennsylvania paper, “GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models” (March 27, 2023, Link) and a collaboration of researchers from Princeton, UPenn (again) and NYU, “How will Language Modelers like ChatGPT Affect Occupations and Industries?” (March 18, 2023 Link) whose conclusion is that, “We find that the top occupations exposed to language modeling include telemarketers and a variety of post-secondary teachers...”
RBC also singles out a March 2023 article by Forbes Technology Council member, Gal Rimon where he asked “Will ChatGPT Replace The Contact Center Agent?” and concluded that, “The short answer is that it will not replace the agent anytime soon, but it will transform the role as we see it today. While it is not certain that automation will ever fully replace the human touch and emotional intelligence (EQ), there will be new challenges and opportunities to enhance customer service.” Rimon argues that ChatGPT will increase customer service expectations, personalize content and accelerate time to proficiency, helping agents differentiate.
AI deployment risk factors
However, if some observers like Rimon focus predominantly on how ChatGPT has the potential to enhance CX service provision, RBC adds that others caution over the significant risk factors inherent in implementing the LLM and word prediction approach of ChatGPT and analogous systems. The risks include potential for misinformation; bias and discriminatory behaviour; relevance and importance of staying on topic; relevance of training data; security, with highly-regulated industries such as banking and insurance needing to consider how customer data is being ingested when using third-party technology; and integration.
To conclude, RBC expects the dominance of fully automated 'conversational AI' by 2043, with the attendant deflationary wave that will hit the industry. However, based on the emerging expert evidence, RBC also thinks that commercial adoption of GPT AI models is likely to be tentative in the near term. Over the medium term, significant new functions could be required from outsourced CX providers managing a hybrid of human + AI solutions, driving increased outsourcing penetration and creating brand-new revenue streams.
