HomeMarket NewsVerizon (VZ) Enhances Customer Service With GenAI Integration

Verizon (VZ) Enhances Customer Service With GenAI Integration

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Over the past couple of months, Verizon Communications Inc. VZ has been deploying innovative, human-assisted GenAI applications that streamline processes and ensure positive customer engagements.

These cutting-edge tools ease the business processes with Verizon and reduce the cognitive load on store and customer service employees. Designed to work alongside human representatives, these AI tools act as personal guides, leading customers to the best solutions and offers available. This approach allows Verizonโ€™s frontline representatives to build meaningful relationships with customers, underscoring the importance of each interaction.

Key Innovations

Personal Research Assistant: This technology helps Verizonโ€™s frontline teams sift through vast resources to provide accurate, personalized information swiftly. Employees can now respond to nearly 95% of customer inquiries accurately, significantly enhancing service efficiency.

โ€œFast Passโ€ to Resolution: AI intelligently pairs customers with the best-suited customer care representative, ensuring specialized assistance for specific needs. For example, a customer with an international service query is directly connected to an expert in international travel options, leading to quicker and more effective resolutions.

Personal Shopper/Problem Solver: This AI tool instantly analyzes a customerโ€™s profile, enabling employees to understand the needs better and provide tailored solutions efficiently. As a result, customer transaction times have been reduced by two to four minutes.

Segment of Me: AI enables highly personalized interactions by identifying unique customer needs and offering tailored solutions. This proactive approach has led to increased customer engagement and reduced churn rates.

These tools are already contributing to higher customer satisfaction and improved engagement across all service channels. Verizonโ€™s investment in GenAI is also driving operational efficiencies and fostering stronger customer loyalty, positioning it for sustained growth in a competitive market.

Moving Forward

With one of the most efficient wireless networks in the United States, Verizon deploys the latest technologies to deliver faster peak data speeds and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investment. The company remains focused on making necessary capital expenditures due to the expansion of 5G mmWave in new and existing markets, the densification of the 4G LTE wireless network to cater to huge traffic demands across multiple verticals and the continued deployment of the fiber infrastructure.

Verizonโ€™s 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, health care, retail and sports. The companyโ€™s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These are massive spectrum holdings, particularly in the millimeter-wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy a large number of small cells.

The stock has gained 12.3% over the past year compared with the industryโ€™s rise of 9.9%.

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Verizon, currently, carries a Zacks Rank #3 (Hold).

You can see the complete list of todayโ€™s Zacks #1 Rank (Strong Buy) stocks here.

Key Picks

Arista Networks, Inc. ANET, sporting a Zacks Rank #1, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has a long-term earnings growth expectation of 15.7% and delivered an earnings surprise of 15.4%, on average, in the trailing four quarters.

It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed datacenter segment. Arista is increasingly gaining market traction in 200- and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.

Ubiquiti Inc. UI, carrying a Zacks Rank #2 (Buy) at present, is a key pick in the broader industry. Headquartered in New York, it offers a comprehensive portfolio of networking products and solutions for service providers and enterprises at disruptive prices.

It boasts a proprietary network communication platform that is well-equipped to meet end-market customer needs. In addition, it is committed to reducing operational costs by using a self-sustaining mechanism for rapid product support and dissemination of information by leveraging the strength of the Ubiquiti Community.

NVIDIA Corporation NVDA, sporting a Zacks Rank #1, is another key pick in the broader industry. It is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the companyโ€™s focus has evolved from PC graphics to AI-based solutions that now support high performance computing, gaming and virtual reality platforms.

The companyโ€™s GPU platforms are playing a major role in developing multi-billion-dollar end-markets like robotics and self-driving vehicles. NVIDIA has a long-term earnings growth expectation of 30.9% and delivered an earnings surprise of 20.2%, on average, in the trailing four quarters.

Zacks Names #1 Semiconductor Stock

Itโ€™s only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.

With strong earnings growth and an expanding customer base, itโ€™s positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.

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Verizon Communications Inc. (VZ) : Free Stock Analysis Report

NVIDIA Corporation (NVDA) : Free Stock Analysis Report

Arista Networks, Inc. (ANET) : Free Stock Analysis Report

Ubiquiti Inc. (UI) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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