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5 things you need to do to ride the AI innovation wave

Artificial Intelligence (AI) is more than simply a trend in technology. It is transforming industries, businesses, and our daily lives. To stay ahead in today's fast-paced world, organizations and individuals must embrace the AI innovation wave.

You can only fully appreciate AI's magnificence and huge strength by taking a broad view of its capabilities. Therefore, the overwhelming force of the AI wave may be frightening unless you know how to capture it and use it to your benefit.

In this blog post, we will explore the top 5 things you need to do to ride this wave successfully.

  • The top 5 things you should do to take advantage of the AI innovation wave
  • Conclusion

The top 5 things you should do to take advantage of the AI innovation wave

1. Move to the cloud

Businesses not using the cloud fall behind. The company's reliance on outdated technologies, lacking scalability, security, and efficiency, has put them at a competitive disadvantage. Staying behind in technology trends is challenging and can lead to revenue and customer loss.

However, companies that have started adopting a cloud-native approach have seen a significant increase in innovation. The first step towards advancing innovation is replacing old IT infrastructure with a streamlined, cohesive platform, which accelerates the speed of innovation.

Achieving cloud migration is essential because it creates the foundation for ground-breaking invention.

Related article: AI in customer service: 10 ways artificial intelligence can improve customer experience

2. Reboot your digital strategy

The last 10 years' worth of digital CX projects have mostly failed to live up to expectations. They have become fragmented, isolated, and more concerned with specific touchpoints than the whole customer experience. Customers have therefore had a disjointed and unpleasant experience.

In addition, resuming your digital efforts may seem impossible, but artificial intelligence (AI) is poised to enhance your digital exchanges by accessing an unparalleled reservoir of data. AI has made it possible to focus on the best exchanges between high-achieving agents, resulting in better self-service that predicts customer needs, personalized interactions, and swiftly and effectively resolves problems.

Digital CX is, in other words, no longer an option. For every business to compete in today's digital world, it is essential.

3. Go big with AI—or go home

Don't make the same mistakes twice while selecting a new artificial intelligence infrastructure. Keep your "frankenstack" simple and unconnected.

Further, select a straightforward and reliable platform that integrates all apps, data, and AI natively to provide more comprehensive customer experiences. It is only at that point that you can provide the smooth, streamlined experiences that your customers want. 

Through the extension and application of insights gathered throughout the company, this approach helps the whole business.

How to catch the AI wave without wiping out

Building upon the first three crucial phases, let's examine the last two areas of focus that may assist companies in quickly and effectively catching the wave.

4. Develop a methodical approach and plan to get wave-ready

Saying "we already have digital channels" is insufficient. Customers expect you to demonstrate it.

Even though many businesses currently provide chat, email, and SMS, this is another situation where it's important to keep the bigger picture in mind. Companies that want to lead in digital must have a five-year strategy in place before they can add the next new channel.

An all-in-one platform offers a strong starting point for capturing the AI wave.

Companies may add channels as required, support over 30 channels, and expand upon that when they add more in the future with a single, unified platform. It's a more sensible strategy than depending on a "rinse and repeat" strategy, which forces you to start again with a different vendor who might not be as knowledgeable about digital.

Basically, having a unified platform will prepare you for the waves. 

Live is a full omnichannel platform that helps companies worldwide grow their profitability by optimizing and automatizing their internal and external communication and processes, enabling their customers to engage actively with their brand.

5. Find your center of gravity to grow CX at scale

A strong foundation is crucial for companies to navigate the AI wave, requiring a comprehensive CX strategy for scaled growth. A unified platform provides stability, strength, and a solid foundation for AI endeavors.

However, how can you determine your center of gravity? Avoid making too many drastic changes to stay faithful to that overarching goal. Determine the priorities of your customers to stay focused on your main objectives. When you realize this, you'll be able to make decisions that will always lead you in the right direction.

According to the statistics, customers complaints, businesses report that an average of 76 percent of customer issues are resolved on first contact. On the other hand, study shows that top channels through which companies offer customer service are e-mail (56%), messaging channels (51%), and Google search results (40%).

Businesses who want to give customers a smooth and integrated experience across all available channels and touchpoints can benefit from the omnichannel customer experience (CX). After customers contact your company for information about a specific product, an effective omnichannel approach may increase in-store visits by 80%

It's vital to use AI to enable interactions at every level since a piecemeal approach might quickly come apart. This includes:

  • AI in management
  • AI for customers
  • AI in the agent realm

Achieving long-term success on the AI wave is difficult but possible. To effectively plan for the future, it is crucial to maintain calmness, balance, and focus on the present moment.

Conclusion

It takes a mix of expertise, strategic planning, and a dedication to constant development to ride the AI innovation wave. 

By understanding the basics of AI, identifying relevant use cases, investing in talent and training, fostering a data-driven culture, and embracing collaboration, you can position yourself or your company at the forefront of AI innovation. Those that proactively adapt and take use of AI's potential will surely benefit from this game-changing technology as it continues to advance.

Learn more about how the Live product family can help you support and improve your customer experience strategy.

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