We live in a connected world
Both inside and outside a business. Within an enterprise, connectedness means effective use of the Internet to improve operational efficiency, productivity, and leverage from systems. Outside the enterprise, connectivity leads to better customer experiences that customers cherish and value.
Effective processes and seamless operations within an enterprise reflect outside in the form of a wholesome experience and service delivered to customers in a timely fashion. Business leaders need revenue and higher operating profits, while IT departments look for a better infrastructure to run applications on.
Both of these intents meet to deliver a superior CX that enhances a business’ bottom line and differentiates it from the competition.
Artificial intelligence and intelligent automation are changing how businesses function. How they collect data, capture information, present it, and leverage it to gain more customers, convert more visitors, and expand their operations.
While the potential of artificial intelligence is undisputed, businesses are lagging behind in completely utilizing the technology for good. Business leaders are entirely aware of what AI brings to the table, but the question is whether AI is right for their business. Does it solve a problem?
AI Filling the Gap Between Business and IT
According to Gartner, the global business value derived from AI will reach $3.9 trillion by 2022, through improved customer experience, reduced operating costs, and new revenue generation. Gartner also predicts that automating decision-making by harnessing unstructured data will be a key driving force of this trend- growing AI-derived value from just 2 percent in 2018 to 16 percent in 2022.
Artificial intelligence is helping enhance operations in various industries, especially in manufacturing. The sector is witnessing unprecedented benefits from implementing the technology in operations. Industry 4.0 is rife with the applications of AI in using tech robots, automated inventory management functions, and several other areas of manufacturing that lead to a direct impact on revenue.
In a nutshell, AI is helping organizations slash operating costs, boost productivity, enhance agility and flexibility, boost innovation, and free up employees from mundane tasks to focus on improving customer interactions and experiences across touchpoints.
AI often functions as the foundation for other technologies such as IoT. Artificial intelligence can be considered critical in making sense of the huge volume of data IoT brings to us. As the use of IoT, virtual reality, and augmented reality increases, AI and ML will be key to not only managing the data produced by these technologies but also in supporting the stress on business networks.
As networks get supported by AI, organizations will become less complex and tangled in repetition and more agile, allowing more and more innovation to be spurred and implemented.
How a Robust Infrastructure Supports Differentiated Customer Experience
By 2020, we will manage 85 percent of customer interactions without a human. Needless to say, AI has a significant role to play in enhancing the customer experience. A majority of organizations today are experimenting with cutting-edge technology to step out of the legacy processes into those more evolved and modern to support the needs and demands of their customers.
Here are three ways how AI supports exceptional customer experience within an enterprise:
- Creating a unified customer view – Data unification holds great promise for enterprises that still store data in silos. For any kind of behavior analytics to take place, data needs to be held in one location with a unified view. This single source of truth can be seamlessly created with the help of AI, allowing companies to encash on a seamless customer experience powered by true, updated information.
- Real-time insights – For AI to positively impact customer experience, insights need to be delivered in the moment via the customer’s chosen touchpoint. Integrating these touchpoints within the organization is the key to real-time insight delivery. In the ideal case, these touchpoints are integrated with homegrown modern applications through APIs and enable the delivery of insights and knowledge in real-time. This insight delivery can help organizations create better customer experiences that reflect the customer’s interests and inclinations.
- Business context – Not only can AI deliver insights about an isolated event, but given the right context, it can help deliver a more personalized and tailored experiences to customers. Marking a certain interaction as an inbound call and another as order placement call can do enough, but not a lot. Given the right context of the sensitivity and importance of these interactions can enable AI to hyper-individualize an experience to the customer’s preferences.
With strategic and planned use of artificial intelligence in any enterprise, leaders can create a differentiated brand experience for their customers, and IT can rest assured of the robustness of their infrastructure with intelligent automation.
About the Author
Srinivas Miriyala is a Product, Marketing & Business Development at CloudFabrix Software Inc.
CloudFabrix can streamline your IT infrastructure, seamlessly integrating with all your systems. Their AIOps platform leverages real-time data to provide actionable insights helping with the management of priority tasks rather than wasting time in handling everyday tasks saving labor, money, and time. Srinivas is a Seasoned Product and Business Development professional with experience over 20+ years in Enterprise Software, Mobile & Telecom fields. Global work experience spanning US, Europe and Asia. Holds 3 US patents.
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