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Today’s newsletter:

• AI’s impact on Customer Service

• Top News: iPhone 16 sales will be impacted by the delay of Apple Intelligence

• Trends

AI’s impact on Customer Service

The customer service departments are experiencing increased call volumes and talent shortages. Meanwhile, customers expect personalized experiences across channels like calls, live chat, and email.

Many consumers still prefer picking up the phone for customer support, placing a strain on call centers thus AI is being utilized to reduce the burden on call centers.

The retail industry is receiving the most benefit from AI. 70% of retailers believe their annual revenue has been boosted by AI. Some retailers are delegating 250,000 calls to AI per day. Moreover, AI is only handling the first stage of queries and if the matters are too complex it often transfers the call to a human.

Why it matters?

The customer service industry traditionally has a high turnover rate due to the high-stress environment of dealing with angry or upset customers. This is a crucial industry from a consumer standpoint if delegating tasks to AI ensures quality and satisfaction amongst remaining employees. It’s a win-win situation.

Top News: iPhone 16 sales will be impacted by the delay of Apple Intelligence

During Apple’s WWDC event, they announced to roll out their Apple Intelligence during the Fall, but later delayed the release. All of this is hurting Apple’s iPhone sales and their users because Google has been releasing AI features on Android.

More Information about the iPhone 16 will be released today at their event.

Why it matters:

Over the past few years, iPhone sales have gone down and they have fallen behind their rivals in the development of AI. Apple Intelligence was going to make them more competitive.

Upcoming Trends to watch out for

• Wallstreet is losing its excitement over AI : Nvidia had a great quarter but its stock still went down over the last week.

• The rise of Chinese models: China is leading the race for text to video models with the help of KlingAI and minimax

• There will be no programmers in the next 5 years: This statement was made by Stability AI co-founder Emad Mostaque in 2023. This is becoming a reality with the release of new AI applications such as Cursor AI and Replit agents

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