In the digital world, customers tend to value experiences over things. In addition, growing customer expectations are compelling enterprises to change the way they think, understand and deliver customer experiences (CX).
Also, many organizations have begun to realize the transformative power of digital transformation and have adopted the same to increase customer acquisition and retention by offering connected and personalized CX. By leveraging various new technologies such as AI, AR, RPA, chatbots, Cognitive Services and others, enterprises have successfully enhanced CX and accelerated customer-led business growth.
"In 2022, organizations are projected to spend nearly $2 trillion on digital transformation, spurred by a proliferation of new digital technologies and a fear of disruption by tech-enabled competitors."
In this webinar, we will discuss how business operations across industries can deliver elevated experiences and increase their bottom line. Apart from that, we will focus on helping businesses understand how to accelerate their efforts at transforming digitally. Lastly, our experts will cover strategy development for digital transformation so that you can adapt to change and accelerate business growth.
- Overview of digital transformation
- Adopting the digital edge in redefining CX
- Major challenges on the road to digital transformations
- Embracing the DT to quantify the ROI of CX
- Use cases - Technologies unlocking success in DT
- Developing digital transformation strategies
Questions & Answers
The following are the answers to the questions that were asked during the live webinar.
Question 1: What are the current trends surrounding digital transformation?
Answer 1: Some of the very prevalent digital transformation trends include:
- Adoption of cloud
- Developing AI-powered application integrated with machine learning(ML) capabilities.
- Data is an untapped goldmine so strengthen your business with data analytics.
- Developing customer data platform (CDP) integrated with customer database to help business in unified data collection, processing, analysis and extraction of insights.
- Follow DevOps approach and digital security to improve security and compliance.
Question 2: How can I digitally transform my business?
Answer 2: This is an interesting question; I would suggest initiating this by changing your mindset from being product-focused to being customer-focused. This means that instead of focusing on the features of your products, put more emphasis on catering to the wants and needs of your target customers. Start creating innovative digital experiences that are personalized, quick and affordable.
Question 3: What are some of the digital technologies businesses must have to enhance CX 24/7?
Answer 3: Some of the indispensable digital technologies that every enterprise must adopt for CX management are:
- Conversational AI or Chatbots
- Data analytics
- Smart web apps
- Robotic process automation
- Self-service kiosk and more
Question 4: What types of digital transformation leads to improved CX and ROI?
- Process Transformation – Transforms your business process and services by integrating innovative digital technologies. Example - Adopting data and analytics to retrieve and process information for improving better customer experience and ROI.
- Business Model Transformation – Transforms a business model by including new digital technologies that drive revenue and improve the customer experience. Example - How Netflix digitized business from a mailbox DVD business to the streaming service.
- Domain Transformation – Domain transformations happen when a business is able to expand into another domain successfully. For example - Amazon, launched its own streaming platform (Amazon Prime) and Amazon Web Services (AWS) - now the largest cloud computing/infrastructure service.
- Cultural/Organizational Transformation – Implementing different systems with innovative technologies for employees and making the staff adjust and accept challenging changes. The espousal of digital transformation is worth if it enables your brand to deliver a better outcome to your customers.
Question 5: What are the impacts of implementing AI in the healthcare domain?
Answer 5: AI has a major role in enhancing the healthcare system.
- With Computer Vision integrated systems, healthcare can improve clinical decision support by reducing the frequency of errors and support clinical judgments while diagnosing symptoms, treating diseases, and prescribing medications.
- By developing AI-powered bots, healthcare can eliminate the effort put on burdensome tasks of checking insurance eligibility, getting prior authorization, scheduling appointments and sending reminders.
- Big data analytics can help healthcare organizations to predict a possible risk of disease onset.
- Another good contribution of AI in healthcare is remote patient monitoring which helps healthcare officials to actively monitor a patient’s condition and reduce the need for readmissions due to lack of supervision and care.
- The virtual care provider is a boon during such pandemic time. AI helps doctors to virtually consult patients via video conferencing interpret the patient’s symptoms, provide the diagnosis. This provides patient get healthcare service at their doorstep and reduce costs of travel and visit for patients.
These are just a few, actually, there are many more amazing examples of AI in healthcare.
Question 6: What is the ideal time-frame for implementing data engineering over historic data?
Answer 6: This depends on the quantity of data and KPIs required for analytics. In most cases, enterprises have unstructured data that first needs to be structured and then made available for data engineering. This process may take a few weeks or a month based on various varying factors.
Question 7: Who is responsible for moving the business into the digital transformation space?
Answer 7: The C-suite plays a decisive role in architecting the organization’s digital transformation, by adopting the latest technologies. They are the chief drivers to the move from siloed business processes to a new holistic digital ecosystem. And the benefit of this shift is optimized efficiencies which eventually result in better customer service and ROI.
Question 8: Are there certain technologies now that have a strong early adoption vs other?
Answer 8: Every technology is integral for business growth and ROI. This is why most businesses today realize that it is indispensable to identify their business requirement, strategize and build a technological solution surrounding their business model to derive value. Yes, there are new technologies such as artificial intelligence (AI), machine learning (ML), cognitive computing, robotic process automation (RPA) and others that unlock new business opportunities from siloed data and advanced applications. These technologies have strong early adoption. However, the advanced AI-based applications with ML capabilities and others are built on top of mainframe technologies such as .NET, web frameworks, mobility and more.