The need to develop and implement AI strategies will, for many companies, require a change in how executives and management teams currently operate. AI will not only impact how operations are managed across the entire organization but also require organizations to adapt their skillsets to achieve success.
Reflecting on workshops, speaking engagement etc., throughout this year, a constant theme has been the need for organizations to understand the extent of AI’s impact on current business operations. Some of the more pressing questions revolve around how businesses can adapt to the fast-paced changes and improvements in AI’s capabilities. How do you prepare for something that changes even before the preparation is complete?
Some challenges have quickly appeared, while others are still evolving and only now coming to light. What is clear, is that getting it right or being successful depends on your own data and your capability of understanding how to apply your data.
The Realities of Big Data in the AI Era
Some organizations talked about “Big Data” on the superficial level of PowerPoint presentations – the “3 bullet points on a slide” approach where the complexity of issues eludes the executive levels as they require simplification of issues rather than simplification of solutions. AI has a capability to change every aspect of business operations, from HR and financial services to customer support – areas that execute strategies, as well as areas where strategies are laid out. To achieve success, all areas need to adapt, including the skillsets of those who strategize. Board members, executives, senior management – anyone involved in developing strategies - will increasingly recognize the need for these changes in the upcoming period.
The ability to adapt is crucial in today’s business world. Businesses are made up of people – people need to adapt. Change is happening rapidly - what’s new about that? Nothing has really changed; it has always been like that. It is true that change is a constant factor and has been on the agenda for many businesses over the years. These changes cover everything from market approach to efficiencies, products etc. There are many examples of disruption and radical change that have occurred, typically based on what was seen as a fundamentally new way of approaching a given market.
The Path to Success
AI has the potential to fundamentally change organizations. When understood and utilized effectively, it becomes the catalyst for changing how work is delivered within a workplace. Let’s be honest here, for many people who are currently involved in the strategy process within an organization, the perception is “AI won’t replace my job”. Maybe so – but it will be taken over by someone with a different mind- and skillset.
Observing the approach to AI within Customer Experience (CX) has emphasized the importance of understanding CX, CX data and how CX operations work for achieving success. Just like we would expect solutions designed for HR or finance to be done by specialists within those fields. CX operations however manage your customers, a quite valuable asset to manage correctly, and AI can have a significant impact on this area of your business. Get it right and your customers will reward you with loyalty. If you get it wrong all customers who are serviced by the AI will feel its impact, and so will your business.
So far, this year has taught us that organizations need to prioritize “AI readiness”. In doing so, hopefully they will also come to the conclusion that success with AI in CX depends on knowing where their data comes from, which data to use and how to ensure correct data moving forward. From my perspective, this is the key requirement for achieving success with AI in CX.
Are you ready to embrace the AI-driven future of CX? Nexcom is ready to assist. Schedule a call with one of our experts to get started.
