Digital Lifescapes

Enterprise leaders with large customer care organizations are exploring Artificial Intelligence (AI) applications to improve their online customer experience, increase operational efficiency, and reduce costs to improve profitability. Trained AI can be used to automate tasks, such as answering routine questions, freeing up contact center agents to focus on more complex inquiries. AI can also be applied to personalize the customer experience by recommending new offerings. Additionally, AI can be deployed to analyze vast amounts of existing customer data to identify support trends and patterns, which can be used to improve the overall customer experience. Customer Care AI Market Development Worldwide Contact Center (CC) and Conversational AI, including virtual assistant end-user spending is projected to total $18.6 billion in 2023 -- that's an increase of 16.2 percent from 2022, according to the latest market study by Gartner. "Near-term investment growth rates for CC and CC Con...

More CIOs and CTOs are exploring the commercial value of intelligent systems that can enhance their organization's performance. Global business value from artificial intelligence (AI) is forecast to total $1.2 trillion in 2018 -- that's an increase of 70 percent from 2017, according to the latest market study by Gartner. Moreover, AI-derived business value is forecast to reach $3.9 trillion in 2022. According to the Gartner assessment, there are three different sources of AI business value: Customer experience: The positive or negative effects on indirect cost. Customer experience is a necessary precondition for widespread adoption of AI technology to both unlock its full potential and enable value. New revenue: Increasing sales of existing products and services, and/or creating new product or service opportunity beyond the existing situation. Cost reduction: Reduced costs incurred in producing and delivering those new or existing products and services. AI Technology ...

Why wait for your business model to be disrupted? The most savvy CEOs and informed CIOs will structure their business and technology investments to capitalize on the new economic realities of an emerging Digital Economy, according to the latest worldwide study by Gartner. "In the flash of a digital business moment, a customer may become a partner or even competitor," said Betsy Burton, vice president at Gartner . Digital business transformation requires an organizational architecture that empowers economic Agents, and can cope with an exponential increase in interactions from many different things. Gartner calls new economic models arising from digital business the "economics of connections." Why Connected Agent Ecosystems Matter This idea builds upon Metcalfe's law, which was originally used to describe telecommunications networks and states that the value of an agent within a network increases exponentially as the number of connections increases. ...