IBM THINK - Implications for Brands, CX and Business ... a short read
Ginni Rometty, IBM Chairperson said in her opening address at IBM Think, we are at an inflection point in history that occurs about once every 25 years. It is a point when business and technology architectures change at the same time, causing an exponential shift in business and society. Ginni believes today's inflection point is a result of exponential learning, driven by data.
In plain English, this means there is a LOT of data available today, add AI to this data, and you can deliver exponential learning for your business or organisation. Thereby presenting you the ultimate competitive advantage - 'you outlearn everybody else'. Welcome the Knowledge Age.
At the conference I looked at 100's of innovations developed using AI - After doing so, I agree with her. Below are my outtakes from the conference for business, brands and customer experience.
The key implications for brands:
1) Trust will be the currency of the future.
a. In an era where consumers start to understand that 'every move they make, everything they do' is recorded in some way and used by business or organisations, trust will rise to the surface.
2) Brands will be critical.
a. Brands are the vehicles to build trust. Consumers will cling to trusted brands like never before. I predict trust and reputation will be the key business KPI's.
The key implications for business:
1) Process transformation is about to grow exponentially.
a. The way we 'do things' will change. AI provides a new way of doing things PLUS the exponential learnings from data will map out new ways of working.
2) New Business Partners.
a. Companies will need new partners to solve these new challenges. These partners will require a combination of business and technological expertise.
The key implication for customer experience:
1) Customer experiences will improve significantly.
a. Your customers are going to have considerably better customer experiences from companies already using AI, e.g. Apple, Amazon, Google. Don't be left behind - these companies will set new benchmarks.
2) Personalised experience will be the norm.
a. We will expect everything to be personalised and customised, 'near enough' or 'close enough to my needs' will no longer be good enough.
These are the main outtakes of our study of business transformation powered by AI. This list is by no means exhaustive. In summary, while debate continues to rage about AI and its implications, there are some things that I absolutely know for sure.
1. AI is here, and it is going to be a big part of all our futures.
2. We haven't even started to tap the opportunities that AI provide.
3. Business transformation will be enabled by technology in the future.
Author: Elisa Adams CEO . These are Elisa's personal views and outtakes.
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