Trend 2
Reflect
The generative AI starting pistol has sounded, but as we race into 2024, don’t attempt to run past the competition, race towards understanding first.
The buzz around it may seem both deafening and familiar, but make no mistake, generative AI isn’t simply this year’s metaverse, even if the hype is similarly incredible.
Indeed, this document couldn’t genuinely claim to be a trends report if it neglected to mention this technology. And that’s not because everyone else is also talking about it. It’s because even in an off-the-shelf format, generative AI boasts real-world business use cases.
But these potential benefits pose a genuine risk of triggering a corporate stampede as companies fight to be the first in their sector to implement it.
Acting in haste could conclude with ownership of a costly technological solution in search of a problem. But the opposite is also true. Business leaders who decide to wait and see for too long could find themselves playing catch up for years to come.
Simply within CX delivery, there are a host of areas where generative AI could already add value without recourse to customization or intense user training.
For example, this can include chatbots that really deliver, simple-to-use knowledge bases, small-scale customer sentiment analysis, generating personalized offers and packages, and targeted marketing and communications content.
Any of these capabilities could give an organization that traditionally lagged behind CX leaders an automatic edge. However, to unlock the technology’s full potential, organizations will need to look at how generative AI aligns with their business as a whole. Its ability to add value or unlock efficiencies isn't confined to a single department or business function.
But a greater number of potential use cases also means greater potential risk. The impact of any training biases or inaccuracies rooted in the fact that generative AI doesn’t deliver narrow domain expertise could resonate not simply beyond a department but beyond the organization itself.
This is why organizations need to see this technology as a means of enhancing and not replacing human capabilities. Human oversight and emotional intelligence will be key to generative AI having a positive impact.
And, of course, like any data-fueled technology, organizations need to take an iron-clad approach to protecting customer data from day one and make preparations for government regulations that are already on the horizon.
