The Rise of Gen AI: Meeting Customer Expectations in the Digital Age
In today’s fast-paced world, customers have higher expectations than ever before. With the rise of generative AI (Gen AI), organisations are under pressure to stay agile and proactive in order to meet these new demands. Research shows that a single unsatisfactory customer experience can lead to 52% of customers switching to a competitor, highlighting the importance of taking action to keep up with evolving customer expectations.
Gen AI offers a valuable tool for companies looking to enhance customer experiences by providing unique and personalised interactions and recommendations. Marty Herbert, Director, Head of Experience Transformation at KPMG UK, describes Gen AI as a technology that delivers human-like, emotionally engaging, empathetic, and personalised experiences that reflect the values and personality of a brand.
According to Google Cloud, 97% of retail decision makers believe that Gen AI will impact customer experience. Alex Rutter, Managing Director AI GTM, EMEA at Google Cloud, explains that AI has redefined how retailers engage with customers through personalisation and automation. AI-powered virtual agents can provide personalised shopping experiences, freeing up retail contact centers to deliver seamless service. Companies like Victoria’s Secret are already leveraging AI to enhance customer experiences through features like AI-powered search.
Personalisation is key for organisations looking to improve customer experiences, says Jim Rudall, Head of EMEA at Intuit Mailchimp. By understanding their audience and using AI-powered tools to scale up customer communications, businesses can engage customers at scale while driving down costs and improving ROI.
While Gen AI offers significant benefits for customer experience, organisations must navigate challenges and ethical considerations. Herbert emphasizes the importance of developing a responsible AI framework and establishing an ‘AI Centre of Excellence’ to ensure fair, transparent, and accountable AI practices. Michael Conway, Partner and AI Transformation Leader at IBM Consulting UK & Ireland, highlights the need for businesses to build AI applications on a foundation of trusted, governed data and transparent, explainable AI models to address concerns around ethics, bias, and trust.
Looking ahead, Rudall predicts that customers will expect even more personalised communication from brands, with AI accelerating new methods for marketers to connect with their audience. Conway envisions hyper-personalised journeys created by Gen AI transforming how companies engage with customers and employees, offering tailored experiences and automated, customised offers.
With customer expectations on the rise, Rutter advocates for a data-driven approach to retail management that leverages Gen AI to cater to each customer’s unique needs. By integrating front line service with internal data processing, businesses can create memorable customer engagements and stay ahead of the competition in the evolving retail landscape.
In conclusion, Gen AI is reshaping customer experiences and driving the evolution of customer experience. By embracing AI technologies responsibly and ethically, organisations can meet the growing demands of customers and stay competitive in today’s fast-paced market.
