IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

What AI should look like in the consumer-directed economy

By Contributor
Mon 21 Jan 2019
FYI, this story is more than a year old

Article by Avaya A/NZ managing director Peter Chidiac

Among all the opinions on what constitutes ‘customer experience’ (CX), one thing is certain: Consumers will not wait for businesses anymore.

We know that consumers now dictate the economy, and their constantly-evolving expectations are forcing organisations to establish new approaches to improve customer engagement. Specifically, customer service that is delivered effectively, efficiently and accurately to keep customers happy, and therefore factor towards all important customer loyalty.

While there are various ways to retain a loyal customer base – after all, what works in financial services is vastly different to the needs of hospital patients or travellers – it invariably boils down to the quality of the touch points through which customers interact with organisations.

According to an Australian study by KPMG, there are six CX components that are inextricably connected: Personalisation, integrity, expectations, time and effort, resolution, and empathy. Specifically, the report found that Australian consumers rated personalisation as the key driver for customer satisfaction, with over 20 percent ranking it as most important. This was closely followed by time and effort (19 percent) and integrity (18 percent).

But while these are quite distinct factors, they are only parts of a wider and more comprehensive strategy: Individualisation.

When discussing CX with Australian organisations – no matter their vertical – individualisation becomes a focal point as it refers not only delivering to the unique needs of any one consumer, but also anticipating their needs, and achieving a deeper level of engagement at the right time (and well before it’s too late).

Individualisation also resolves the omnichannel conundrum. A study by Gartner indicates that organisations have been trying to integrate channels to provide seamless access for customers and this has been going on for a decade, if not longer. However, the analyst firm found that omnichannel has left 85 percent of organisations with inconsistent engagement channels, resulting in unsatisfied customers.

While individualisation is being helped along by various technological developments, artificial intelligence (AI) is a stand-out. And in this case, we aren’t just talking about scripted web bots which are only prepared to deal with a predetermined set of queries. Instead, we refer to ‘conversational AI’ – a bot made for a specific purpose that leverages machine learning to expand its knowledge base by communicating with other bots without the need for human intervention.

So, what does this look like the in the real world? A large Australian financial institution is currently using conversational AI in the form of voice biometrics to streamline CX. Whenever a customer calls through, they can immediately start discussing their enquiry as the AI works away in the background to authenticate the caller by their voice print. The result is that the customer no longer has to deal with pesky ID questions.

This is just one example of AI’s potential to be a powerhouse in enhancing and revolutionising the CX by contributing to individualisation. When integrated with humans, organisations can do more than just respond to enquiries, but anticipate them. This also feeds into KPMG’s observation that Australian customers want an emotionally-positive experience.

According to another Gartner study, by 2020, AI will be included in nearly every new software product, including an increased use in retail. It is projected that over 30 percent of retail CIOs will prioritise investment in AI in response to changing customer expectations.

This presents numerous opportunities for organisations and consumers. Just think about the last time you booked a holiday; whether it’s conversing with travel agents or extensive research, the process is time-consuming and often exhausting as you scramble for the best airfares and accommodation, while also trying to figure out what to see while at your destination.

Machine learning creates endless possibilities within the travel industry that could wipe out this process. Imagine booting up a voice assistant on your phone, telling it you want to head to Switzerland, and having the bot create an itinerary that caters to your every need within a few minutes.

Due to the power of machine learning, the bots that make this happen learn about what you like and make suggestions accordingly – right down to finding the best chocolate spot in a smaller town. Travel agents need not worry though, as with the sheer number of options out there, agents will continue to play a critical role in humanising the automated process through empathy.

AI provides an element to CX that will help enhance a service with consistent and accurate information. It has the potential to offer a unified architecture between humans and technology to execute positive customer journeys, and efficiently provide a new level of individualised CX.

The aforementioned examples of improved CX are key to the future of customer loyalty. Through simplifying processes with the assistance of technology, organisations will aggregate KPMG’s model into a compounded bundle, thereby better addressing customer needs and ultimately allowing their businesses to achieve CX in tomorrow’s economy.

Related stories
Top stories
Story image
LG Electronics
LG Electronics brings on Aussie AV distributor Alloys
LG Electronics Australia Business Solutions has appointed Australian AV distributor Alloys as a new distribution partner.
Story image
Sustainability huge factor for APAC data centre managers
A new report reveals that 85% of data centre managers in APAC believe that sustainability will significantly impact operations and decision making.
Story image
Marketing technologies set to increase revenues - study
Marketing leaders say that investment in new marketing technologies (MarTech) will drive significantly increased revenues.
Story image
Aussie businesses buckle down on digital tech investments
Australian businesses are planning major investments in digital technologies to support ambitious expansion plans.
Story image
Remote Working
RDP attacks on the rise, Kaspersky experts offer advice
"Given that remote work is here to stay, we urge companies to seriously look into securing their remote and hybrid workforce to protect their data."
Story image
Artificial Intelligence
Salesforce announces new innovations for financial services
Salesforce has launched expanded financial services that offer more targeted and trusted automation to help teams unlock insights, deliver better customer service, and drive operational efficiencies.
Story image
Honeywell named Frankston facility services provider
Honeywell has been named the joint facility services provider for Frankston Hospital’s AU$1.1 billion redevelopment.
Story image
Jamf introduces new content filtering solution for education providers
Jamf has announced the launch of Jamf Safe Internet, a new offering that looks to deliver a safe online experience to students while offering better management options for admins.
Story image
Document Management
Regaining digital trust and enhancing digitisation in Australian Government agencies
Having a digitised ecosystem of documents, tools and data can help bolster security, improve workflow and ultimately create better services.
Story image
Enterprise service management: the importance of a one-stop shop
In an online world, employees and end-users want one place to go for all their questions and requests. Intranet technology and self-service portals are useful tools that help serve this purpose.
Story image
Marketplacer and Adobe accelerate partnership for enhanced commerce solutions
Marketplacer has accelerated its partnership with Adobe in order to further enhance the global commerce marketplace.
Story image
ASI Solutions
Western Australia CUA panel picks ASI as preferred supplier
Western Australia's Common User Arrangement (CUA) panel has chosen ASI Solutions as a preferred supplier for device hardware.
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
Artificial Intelligence
Eight top DevSecOps trends to support IT innovation in 2022
The use of DevSecOps practices is growing, as it is increasingly seen as the best way to produce high-quality and secure code. So what are the current trends?
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why it's time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Progress launches latest version of network visibility solution
In Flowmon 12 network solution, Progress has expanded its support for public cloud provider flow log monitoring and launched new features.
Story image
Rubber Monkey gears up for Aussie market with latest capital raise
Rubber Monkey is seeking to raise up to NZ$2.5 million of new capital through online investment platform, Snowball Effect.
Story image
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
To win at 5G, telcos must tame their quoting chaos
The catalogs of CSP (communication service providers) market offerings are set to explode as new digital services emerge, powered by B2B2X business models.
Story image
How organisations can mitigate IoT and IIoT security risks
IoT and IIoT come with inherent risks because they are often deployed faster than they can be secured, putting organisations in danger of cyber threats. Here are tips on how to mitigate those risks.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Registrations for the W.Media Sydney Cloud and Datacenter Convention 2022 now open
Are you a C-Level executive looking to enhance your knowledge in the cloud and data center space in order to get the best results for your company?
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Story image
WiFi as a Service market to reach $26 billion through 2032
As a result of the easy management of wireless infrastructure over cloud services, WaaS is experiencing rapid growth.
Story image
Video: 10 Minute IT Jams - An update from Paessler
Sebastian Krüger joins us today to discuss how unified infrastructure monitoring enables MSPs to seamlessly deliver services to their clients.
Story image
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
Story image
Ericsson and Ciena, Telstra enhance service capacity for Telstra's optical network
Ericsson, Telstra, and Ciena have announced new enhancements to Telstra's Next Generation Optical Network, which will increase the service capacity of Telstra's optical network to 400 GE (Gigabit per Second Ethernet).
Story image
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
Colt launches new SASE Gateway solution with Versa
Colt Technology Services’ customers now have access to an integrated full SASE solution that brings together SD WAN and SSE features.
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Story image
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Story image
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Story image
ABI Research
NaaS market expected to reach $150B by 2030 - research
"The market is immature and fragmented, but telco market revenue will exceed US$75 billion by 2030 if they act now and transform to align with requirements."
Story image
Southern Cross Cable
Southern Cross Cable launches the SX NEXT cable to connect NZ to the world
The new Southern Cross NEXT fibre cable (SX NEXT) is set to connect Australasia to the US and further enhance connectivity between New Zealand, Australia, and the US.
Story image
BT builds on Equinix partnership with new cloud offering
BT has launched a next-generation cloud connectivity offering extending its global network into strategic carrier-neutral facilities (CNFs) and building on its existing partnership with Equinix.
Story image
What brands can expect from Amazon Prime Day in Australia
Amazon Prime Day is the annual two-day shopping event, kicking off this year from July 12-13 and is the global online shopping platform's biggest sales event. 
Story image
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Story image
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.