Customer Service: Do You Want It Good, Fast, or Cheap? How About All Three?

Back in the “olden days,” say 10 – 20 years ago, there was a popular phrase in the business world: “Do you want it good, fast, or cheap? Pick two.”

Obviously, the thinking at the time was if it’s fast and cheap it won’t be good, and if it’s cheap and good it won’t be fast. Having all three was simply thought to be impossible, and compromises had to be made somewhere.

But now, maybe, things have started to change….

In a recent interview for our “CX Insights from Verint” series, Dave Singer, Verint’s Global Vice President for Go-to-Market Strategy, cited that old saying when talking about how AI is transforming customer service. Dave’s conclusion is that AI is not transforming customer service; rather, it’s allowing customer service to finally reach its full potential.

Let’s explore how this is happening.

AI and Customer Service

AI’s impact on how companies can provide top-level contact center customer service—and improve overall customer experience—goes beyond just automating tasks.

Ultimately, it’s about meeting rising expectations for speed, personalization, and consistency in every interaction. Yes, your customers want it all, fast, good—AND maybe not cheap per se but delivering the value they expect.

Fast Customer Service

Today’s consumers simply don’t want to wait. They want answers to their questions and solutions to their problems now. AI-powered bots can do just that, automating workflows, improving efficiency and first call resolution, handling many interactions at once, and delivering instant answers on any channel at any time, day or night.

For example, Verint AI-powered bots automate a wide range of repetitive and tedious tasks. These include pre-screening calls with the right questions at the start of the interaction to establish context and ensure proper routing—making interactions faster and more efficient.

Verint AI-powered IVA dramatically speeds up customer interactions with personalized self-service experiences. AI-powered transfer uses contextual data to intelligently direct customer interactions to the right resource, delivering the right outcome regardless of channel.

Good Customer Service

AI isn’t just about automating tasks for speed. It’s also about meeting today’s customers’ demand for, and expectation of, ever higher levels of customer service.

Customers have come to expect 24/7 availability with instant responses. They want personalized interactions, seamless transitions between channels, and the right answer the first time. Companies that can offer these top-notch customer experiences are the ones that tend to consistently outperform their peers.

AI is transforming customer service by combining intelligent automation with advanced analytics to streamline routine tasks, reduce wait times, and deliver accurate answers across channels. AI-driven self-service options allow customers to solve issues on their own.

AI also supports human agents, helping them deliver better customer service by providing real-time coaching and guidance, helping to ensure human conversations are more empathetic and effective.

Here’s another real-world example:

A bank deployed real-time coaching for those agents who were struggling with mortgage applications. With Verint Quality Bot, the bank was able to identify agents who were struggling to answer more complex mortgage questions.

Once these agents were identified, Verint Coaching Bot was able to offer real-time, non-disruptive assistance during calls to help guide them through the interaction. As a result, the bank saw an astounding increase in its contact center NPS — jumping from +3 to +39!

Customer Service at a Lower Cost

There’s no doubt that AI tools that provide agents with better access to immediate answers and coaching will result in more successful interactions. Agents who feel confident are more efficient and more likely to stay long term.

This improved agent efficiency, combined with automation, increases capacity and can deliver stronger, faster and measurable outcomes without the expense of adding headcount.

And, with agentic AI, tasks can be executed on behalf of the customer autonomously, again freeing up human agents to handle the tasks that need their particular skills and expertise.

And, of course, here’s another real-world example for you:

A global services company used Verint Genie Bot to identify and highlight the key behaviors and strategies that differentiate successful agents from their less successful counterparts. In just two days, the bot was able to identify strategies to both boost sales rates and customer retention for $6.5 million in additional revenue opportunities.

AI-Powered Bots Are Taking Customer Service to the Next Level

Verint AI‑powered bots help organizations elevate customer service while reducing operational expenses by combining intelligent automation, smart self‑service, and real‑time workforce optimization.

They handle high‑volume, repetitive inquiries with speed and accuracy, freeing human agents to focus on complex or emotionally sensitive issues. This reduces wait times, improves first‑contact resolution, and gives customers faster, more consistent answers across channels.

At the same time, automation lowers the cost per interaction by reducing the need for large support teams and minimizing manual work. AI also provides predictive insights and real‑time guidance, helping companies prevent issues before they escalate and enabling agents to resolve problems more efficiently.

The result is a customer experience that feels more responsive and personalized, delivered at a fraction of the traditional cost.

Learn more about the outcomes you can achieve with our specialized AI-powered bots.