Using AI: 3 Operational and Compliance Advantages

phonlamaiphoto / Adobestock

Debates about Artificial intelligence, its usefulness, and its drawbacks seem to be taking place everywhere in the collections industry these days. Some debt collectors have gone all in, others have dipped their toes in the proverbial waters, and still others have taken a wait-and-see approach. Here are three Operational and Compliance Advantages to consider if your organization is thinking about AI implementation.  

AI Provides for a Convenient Experience for Consumers 

IVR’s can be convenient, but their static nature doesn’t always allow a consumer to get to the right agent quickly and conveniently.  Conversely, AI solutions handle two-way conversations intelligently and efficiently. Whenever needed, it can transfer calls to a live agent; it processes payment, and offers settlements and payment plans as needed. This makes the user experience easier for consumers and the agents receiving these calls.  

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