UK organizations invest in digital tools for vulnerable consumers

Amid rising living costs, vulnerable consumers in the UK need more support. A recent study shows that many adults are in vulnerable situations, but only a small percentage identify as such. Organizations must take action to help these individuals and ensure they receive the support they need. Around 35 million adults in the UK may be considered vulnerable due to various factors, including health issues and financial difficulties. Despite this, only a small fraction of customer service interactions focus on identifying and assisting these customers. Younger adults are more aware of their vulnerabilities, with many under 34 recognizing their situations. This awareness can help in opening up discussions about financial and personal challenges. However, organizations should not entirely rely on self-identification for support, as this can place too much pressure on customer service agents. Financial pressures, like high energy costs, are a major concern for many households. A significant number of vulnerable consumers plan to reduce their energy use in the coming year. Organizations need to improve their support systems by adopting digital channels, which many vulnerable individuals prefer for their anonymity. Investing in AI and automation is essential for providing scalable support to vulnerable consumers. These technologies can help identify signs of vulnerability from customer interactions, allowing timely support when needed. AI can also streamline processes so that customers quickly receive appropriate help without having to repeat their stories multiple times. In conclusion, technology leaders must embed AI and automation into customer support strategies. This will ensure that all consumers, especially vulnerable ones, receive effective, compassionate assistance when they need it most.