- With GenAI, customization becomes the norm. Marketing materials, training materials, even code – everything can be tailored to specific audiences and situations, leading to better engagement and results. – Jen Wong (CEO, Deeplearning.ai)
We’ve been talking about delivering amazing, personalized, omni-channel customer experiences for decades – now it’s time to do it… GenAI, fueled by big-data and real-time deep learning, is ready to help organizations deliver the customer experience they’ve aspired to for years. Here’s what you need to know.
Real-Time Personalization and Customization is here…
GenAI is capable of leveraging big data and real-time insights to develop personalized messaging and content for your customers. That starts with predictive analytics, moves to custom content generation, and wraps up with curated recommendations for what’s next. Doing so isn’t simple, and it requires an awful lot of experimentation, training, and monitoring. Given the scarcity of GenAI expertise and the urgency to respond to what are sure to be quickly innovating competitors, choosing the projects that have the right combination of the highest business impact with the greatest likelihood of technical success will be absolutely key in these early days. The underlying capabilities, though, are so compelling that we’ll eventually wonder how we engaged customers any other way.
GenAI is beginning to enable interactive, immersive experiences
The difference between conversational, nuanced GenAI-enabled interactions versus scripted chatbot sessions can’t be overstated. Users can interact with GenAI-enabled agents conversationally in their native language, ask complex questions, and receive nuanced, context-specific responses that in many cases are virtually indistinguishable from a human discussion. By the end of 2024, scripted chatbots will feel like dial-up internet – a sign that you’re way behind the times. Though still early days, in the future those interactions are going to be available in Augmented or Virtual Reality, with real-time video experiences.
Customer Analytics is moving beyond ‘What’, to include ‘Why’ and ‘So What’…
Customer Analytics platforms have been steadily delivering more in-depth analysis around what customers are doing and seeing along their journey. GenAI is now enabling deeper insights into ‘Why’ they’re taking those actions, what they think about the experience you’re delivering, and what the implications will likely be in the future. This increased insight – available to be analyzed and acted on by your marketing teams in real time, will be a deeply profound shift in your relationship with your customers: The ability to be instantly responsive to individual customers precise desires and behaviors is an opportunity to permanently upgrade your customer relationships. Customers will notice, and reward, companies who want to know them this well.
GenAI-enabled insights will enable optimized omni-channel experiences
These deeper insights are enabling organizations to rapidly identify drivers of customer dissatisfaction and pain points and take much faster action to eliminate them. This is particularly true for omni-channel customer experience, where different data structures, measurement methods, and the sheer volume of required analytics has historically limited our ability to deliver the harmonized experience customers are looking for.
What We’re Seeing in Practice
- Customer-Experience is going to be a primary GenAI area of focus in 2024: There’s just too much upside to figuring this stuff out not for this to be a priority for your team in 2024. You can start small, with focused experiments, but you need to start now… Customers will move to companies who figure this out first.
- Solving for Data Challenges is Critical, and Requires Time and Focus: You’ll likely find significant gaps in your data capabilities when you kick the tires on GenAI-enabled personalization and customization. Where that’s the case, customers are narrowing their use cases to a scope they can deliver well, and solving for foundational data and capability gaps in parallel.
- Commercial Solutions are pretty effective, and making leaps and bounds in their foundational capabilities: There are a wide range of commercially available solutions that are pretty impressive today. The reality, though, is these capabilities are going to rapidly mature in 2024 to deliver higher quality, higher impact, simpler solutions for enterprise use cases.
- Training on your data and specific context is crucial: GenAI solutions are a little like a summer intern – lot’s of positive intent, but significant training and oversight needed… You’ll need to provide your business’ data, policies, and best practices to deliver target state results.
- In-depth Monitoring is also critical, and it’s not simple to solve: This is an area that we’re all working to mature in 2024. GenAI solutions can struggle to deliver consistent, valid responses if not carefully engineered, trained, and monitored. Evaluating and monitoring output is much more challenging, though, when you’re not validating a scripted event
“Our job isn’t to sell shoes. It’s to captivate the hearts and minds of our customers.” – Phil Knight, Nike
GenAI is driving the next wave of customer experience innovation – delivering curated, personalized, and immersive experiences and raising customer expectations across industries. To win, you’ll need to understand these new capabilities, translate them into meaningful value for your specific customer-base, and move fast to ride the wave instead of being swamped by it…
Please click below to explore the next 3 blogs in the ‘Demystifying GenAI’ series.
● Your Team: Smarter, Better & Faster with GenAI
● Understanding what GenAI is Good At, and What it’s Not (Yet)…
● GenAI in 2024, Co-Pilot, Not Auto-Pilot
To learn more about how Accelerated Innovation can help your company develop their GenAI vision and get started on their journey, Contact us to set up a phone call.
