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What is behavioral economics? Why does it matter to you?

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Podcast Episodes

What is behavioral economics? Why does it matter to you?

375. AI That Understands People: Blending Tech and Behavioral Science

In episode 375 of The Brainy Business podcast, Yves Boudreau, head of technical sales at Google Cloud, provides valuable insights into the intersection of generative AI, language models, and behavioral science in business. Yves, with a background in technology and a keen interest in applied behavioral science, emphasizes the responsible adoption and application of AI and large language models. He highlights the importance of understanding the social science perspective to ensure responsible usage and discusses the benefits and limitations of AI in improving performance. 

The conversation delves into various aspects, including the potential risks of relying on AI-generated content, the significance of proper training in using AI tools, and the role of behavioral science in conjunction with AI. Yves’ expertise and experience make this episode a must-listen for business professionals interested in AI and behavioral science, as it offers valuable insights for more responsible and effective AI implementation in businesses.

In this episode:

  • Implementing AI in call centers revolutionizes customer support efficiency.
  • Elevate user satisfaction by refining the search experience with AI.
  • Streamline operations with self-service mechanisms for enhanced efficiency.
  • Mitigate adverse effects of perverse incentives in call center operations.
  • Elevate customer service standards through strategic AI integration.
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SHOW NOTES:

00:00:00 – Introduction
Yves Boudreau, head of technical sales at Google Cloud, discusses the intersection of AI and behavioral science, emphasizing responsible adoption and usage of AI technology.

00:05:44 – AI’s Impact on Business Performance
Yves mentions a study showing that consultants using AI outperformed those who didn’t. AI can increase efficiency, improve outcomes, and provide valuable insights when used effectively in business operations.

00:09:05 – Responsible AI Adoption
Yves highlights the negative impact of using AI without proper understanding and training. Google Cloud provides free workshops to ensure customers understand the technology and use it responsibly.

00:11:52 – Ethical Usage of AI
Yves discusses the ethical considerations of using AI, emphasizing the need to prevent misuse, privacy infringement, and manipulation of AI models. Responsible AI usage is crucial in both consumer and business contexts.

00:13:22 – Preventing Nefarious Use of AI
Yves explains the measures taken by Google Cloud to prevent malicious activities, such as attacks, reverse engineering, and tricking AI models. The focus is on using AI for good and closing loopholes to ensure responsible usage.

00:14:37 – AI and Show Notes Optimization
The conversation delves into the use of AI in creating show notes and the challenges of optimizing the process. There is a discussion about the limitations and potential errors in AI-generated summaries.

00:16:21 – Teaching Effective AI Use
The focus shifts to the importance of teaching effective AI usage, particularly in educational settings. The guest emphasizes the need to guide students in discerning accurate information from AI-generated content.

00:18:18 – Impact of AI on Performance
The conversation explores the impact of AI on consultants’ performance, with a focus on how AI can elevate those with less expertise. An analogy is drawn between AI and tools that revolutionize manual tasks.

00:19:27 – Evolving Podcast Summary Creation
The discussion touches on the variability in podcast summary creation and the importance of adapting to changing norms. It emphasizes the need for prompt engineers to guide effective use of AI in search queries and content creation.

00:25:08 – Behavioral Economics and AI
The conversation shifts to the intersection of behavioral economics and AI in influencing consumer behavior. It highlights the role of AI in analyzing customer interactions and optimizing customer service processes.

00:28:42 – Evolution of Customer Support Departments
Yves discusses the evolution of customer support departments, including the combination of three departments into one and the transition from 24-hour call centers to more efficient hours.

00:30:58 – Impact of Digital Transactions on Call Centers
Yves shares insights from Matthew Dixon’s research, indicating that over 80% of phone calls to contact centers are due to failed digital transactions, showcasing the impact of technology on customer service.

00:32:13 – Power of AI in Contact Centers
Yves emphasizes the potential of AI technologies in contact centers to improve customer experiences and empower agents. He discusses the need for behavioral scientists to guide the adoption and usage of AI tools.

00:34:24 – Leveraging Contact Center Data
Yves highlights the valuable insights hidden in call recordings and chat transcripts, advocating for their use to gain a competitive edge in business. He emphasizes the need for companies to embrace and leverage this data.

00:38:34 – Improving Customer Experience
Yves stresses the importance of providing efficient and effective customer service, aiming to minimize the need for customers to contact the business. He underscores the role of AI in enhancing the overall customer experience.

00:43:12 – Improving User Experience on Delta.com
Yves discusses the challenges of finding trip credits and flight credits on delta.com and the importance of making the search experience more user-friendly. The conversation delves into the need for more information in search prompts and the importance of user feedback for product improvement.

00:44:55 – The Challenging Call Center Environment
Melina shares her experience working in a call center and discusses the behavioral aspects of call center interactions. They explore the impact of incentives and metrics on call center agents and customers, emphasizing the importance of understanding human behavior in customer service.

00:46:55 – Behavioral Insights in Call Centers
The conversation continues with a focus on the behavioral aspects of call center operations, including the impact of incentives and customer behavior on call center performance. They highlight the challenges of logic and empathy in customer interactions and the importance of understanding human behavior in service delivery.

00:49:17 – Embracing AI and Technology
Melina discusses the increasing role of AI in call centers and business operations, emphasizing the need to embrace AI for time-saving and optimization. They highlight the potential of AI to improve self-service aspects and customer experience, emphasizing the importance of incorporating technology and human behavior in business operations.

00:50:52 –  Conclusion,
Melina’s top insights from the conversation. What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media — you’ll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.

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