AWS re:Invent 2023
Principal Financial Enhances Cx Using Call Analytics and Generative Ai Aim223

Title

AWS re:Invent 2023 - Principal Financial enhances CX using call analytics and generative AI (AIM223)

Summary

  • Presenters: Arthika Sardana Chandras (Senior Product Marketing Manager, Amazon Bedrock), Chris Lott (Senior Solutions Architect, Amazon Transcribe), Miguel Sanchez (Analytics Director and Regional Chief Data Officer, Principal Financial Group).
  • Key Topics: Customer experience in contact centers, AI/ML and Generative AI applications, AWS services for post-call analytics.
  • Challenges Addressed: Improving self-service, reducing agent admin time, and enabling managers to analyze 100% of calls.
  • Solutions Discussed: Self-service virtual agents, real-time call analytics and agent-assist, and post-call conversation analytics.
  • Customer Benefits: Significant reduction in call times, improved agent training and performance, operational cost savings, and enhanced customer experience.
  • AWS Services Highlighted: Amazon Connect, AWS CCI solutions, Amazon Transcribe, Amazon Comprehend, Amazon Bedrock, AWS language AI services, Amazon S3, AWS Lambda, AWS Step Functions, DynamoDB, Amazon Athena, Amazon QuickSight, Amazon Chime SDK Voice Connector.
  • New Features Announced: Multi-billion parameter speech foundation model for Amazon Transcribe, call summarization in the transcribed call analytics API.
  • Principal Financial Group's Use Case: Processing 30,000 customer calls daily, integration with Genesys Cloud, leveraging AWS Transcribe for high-quality transcripts, sentiment analysis, topic and intent identification, PII reduction, and reporting with QuickSight.
  • Roadmap for Principal Financial Group: Email interaction processing, integration with Google Analytics, improving topic hierarchy definition, and deploying an intelligent agent using AWS QNA Bot and Kendra.

Insights

  • Generative AI's Impact: Generative AI is significantly enhancing customer experience by providing more accurate and efficient self-service options, aiding agents in real-time, and offering deep insights from post-call analytics.
  • Customer-Centric Solutions: AWS is focused on addressing the specific challenges faced by contact center personas (customers, agents, managers) with tailored AI/ML solutions.
  • Operational Efficiency: AWS services are enabling businesses to achieve substantial operational efficiencies, such as reducing call times and agent training duration, and saving on operational expenses.
  • Data Privacy: AWS's focus on PII reduction and obfuscation within its services is critical for regulated industries like finance.
  • Open Source and Flexibility: AWS's open-source approach with the CCI solutions allows for customization and integration with existing systems, providing flexibility for businesses to adapt the solutions to their specific needs.
  • Strategic Partnerships: Principal Financial Group's strategic partnership with AWS and their aggressive cloud migration goals highlight the importance of cloud services in modernizing financial services.
  • Future Roadmap: Principal Financial Group's roadmap includes multi-channel customer engagement, leveraging AWS's language AI services for a comprehensive customer experience, and the deployment of intelligent agents to further enhance customer interactions.
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