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(USGovernment-News.Com, November 29, 2018 ) Due to substantial reduction in operational costs, Artificial Intelligence (AI) is extensively used by business organizations in customer support activities area. Artificial intelligence systems perform tasks that normally require human intelligence such as translation between languages, speech recognition, translation visual perception and decision-making. This technology increases productivity and reduces operational costs by enabling handling of customer grievances and other interactions without human intervention. It also helps provide multi-language support, manages support tickets in bulk, and auto responding of bulk emails. According to a study by Oracle, nearly 8 out of 10 businesses have already implemented or planning to adapt artificial intelligence in customer support by 2020.
The business support services industry comprises establishments engaged in performing activities that are ongoing routine business support functions that businesses. The business support services market is segmented into Document Preparation Services, Telephone Call Centers, Business Service Centers, Collection Agencies, Credit Bureaus, and Others - Business Support Services.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL BUSINESS SUPPORT SERVICES MARKET AT $31 BILLION IN 2017
North America was the largest region in the business support services market in 2017, accounting for more than one-third of the global market.
According to The Business Research Company’s Consultant, Nitin Gianchandani, telephone call centers have shifted towards Omni channel communication from the traditional model. Omni-channel communication is synchronized operating model in which all of the company’s channels are aligned and present a single face to the customer, along with one consistent way of doing business. It allows providers to give customers a more personal feel to resolutions. Customers can get convenient and on-demand service.
The companies covered are Tata Consultancy Services Limited, Hewlett Packard Enterprise Co, Genpact Ltd, A.T. Kearney, Inc., and Grant Thornton LLP. Tata Consultancy Services Limited was the largest competitor in the market, generating revenues of $1.3 billion in the year 2017. Tata Consultancy Services’ growth strategy is to continually extend the core IT services business by expanding its geographic reach, to develop mature capabilities to derive customer insights, building or acquiring emerging business and adopting or creating new business models and business solutions through regular innovation.
Business Support Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
About The Business Research Company.
The Business Research Company is a market research and intelligence company, which excels in company, market and consumer research. It has research professionals at its offices in the UK, India and the US as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, chemicals and technology.
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