Intelligent SME.tech Issue 20 - Page 30

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// FEATURE // of customer interactions , particularly their successes and failures , is a crucial opportunity to vastly improve sales in any size business .

Improved customer protection
AI systems provide updated , innovative security for businesses and customer protection . One key example of this is fraud risk management in customer interactions .
Companies can implement Speech AI to detect speech , language and behavioural features that indicate fraudulent intent in the background of digital customer service operations . Programmed to detect distinct features such as negation , hesitancy and over-emotional reactions , Machine Learning evolves with the changing nature of fraud , providing businesses with vastly increased protection without placing customer service agents under unnecessary strain . Customers can rest assured that the quality of customer service will not decrease with the increased anti-fraud protection .
Additionally , Speech AI can detect features suggesting customer vulnerability . Demands for businesses to pay closer attention to customer protection are increasing , encouraging them to act more strongly in the interests of those using their products or services . By detecting customer vulnerability , businesses can ensure that customers are not taken advantage of or encouraged to make inappropriate purchases . In extreme cases , they can also refer customers to find additional help for their safety and well-being .
Increasingly comprehensive business security
Alongside assisting in fraud prevention , AI systems can help businesses maintain data security and organisation . Security and accurate record-keeping are essential for maintaining consistency with regulatory compliance – an area which is becoming increasingly complex in many sectors .
The ability to access accurate data extracted from text , audio , video or numerical formats can also protect businesses if individuals raise inaccurate claims of non-compliance , potentially avoiding fines or restrictions .
How is this technology being applied by larger companies ?
Investments in AI technology have increased over the past few years for many larger companies . As a result , these companies have fostered improved customer relations and targeted customer service , particularly in expanding fraud prevention and sales enablement strategies . However , while AI technology has proved especially effective in supporting the function of large businesses , there is increasing evidence that it can be just as effective in supporting SMEs .
With its incredibly adaptable nature , AI is likely to be increasingly adopted by smaller businesses to maintain pace with industry leaders , potentially rivalling them in the future .
How do these applications of AI technology assist in SME growth ?
Many SMEs intend to scale and grow as they find stability and
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