The next generative AI success story could come from the call centre market – Yahoo Finance UK

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The next big generative artificial intelligence (AI) product will be auto summarisation applications, which will revolutionise the operations of call centres, according to an industry leader at this year's Chatbot Summit in London.
Generative AI products like ChatGPT and Google's (GOOG) Bard took the world by storm late last year. Yahoo Finance UK visited this year's Chatbot Summit in London on 12 October to discover what the next success story to come out of the AI sector could look like.
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According to one of the headliners at the event, the next big product to spawn from the generative AI industry will be less conspicuous than ChatGPT, but just as revolutionary.
Richard Bassett, who leads the digital and analytics business NICE, told Yahoo Finance UK that auto summarisation applications could revolutionise the way call centres operate.
As conversational AI technology develops, call centre operators are being offered the opportunity to reinvent their business models and deliver the big returns that were out of reach with the previous generation of AI tech.
Bassett described auto summarisation as the most significant break-out product in this area. He described how it could allow contact centres to automate a large portion of the tasks that they currently employ human agents to do.
He added that these artificial intelligence enhancements will lead to significant cost-saving measures for contact and call centres across the globe.
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"We can use AI to understand conversations and listen in to calls in real-time. AI can then automatically summarise, which would have taken a human agent one or two minutes per conversation. These are significant savings for organisations, and can also ensure consistency across the business," Bassett told Yahoo Finance UK.
London was home to the seventh edition of Chatbot Summit, an event that gives the big names in tech and industry a platform to showcase their innovations in the burgeoning field of generative AI and customer support automation.
This year included talks by business leaders from Google, Microsoft (MSFT), Mercedes-Benz Group (MBG.DE) and BT (BT-A.L).
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There were numerous startups at this year's event, all showcasing the innovative products that they are developing. However, the potential of AI to augment customer experience (CX) interfaces was a central theme at the summit.
As AI technologies, including large language models and generative AI, continue to gain traction in the contact centre sector, they have the potential to reshape a global industry generating $2trn in revenue and employing over half a million people in the US alone.
Many experts at the summit noted the accelerated learning and understanding of AI technologies and predicted further innovations in the near future.
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