MediaCom

Artificial intelligence fuels customer experiences of top brands

SYDNEY, Oct. 11, 2017 /PRNewswire-AsiaNet/ --

-- New research sponsored by Genesys finds iconic companies are more likely to 
use artificial intelligence to achieve customer experience excellence

New research highlights the importance of customer satisfaction and its impact 
on operational strategies and business growth among today's biggest brands, 
particularly those operating in Australia and New Zealand.

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A global survey of more than 550 senior executives across 30 countries and 
territories reports that 91 per cent of "iconic" companies — those that 
maintain both the highest levels of customer experience ( 
http://www.genesys.com/anz/omnichannel/customer-experience ) (CX) satisfaction 
and have world-leading brand recognition — deploy artificial intelligence (AI) 
solutions ( http://www.genesys.com/omnichannel/meet-kate ) to increase customer 
satisfaction, compared to 42 per cent of companies in their fields overall.

The new report from MIT Technology Review is sponsored by Genesys ( 
http://www.genesys.com/anz/ ) and called Getting to Iconic ( 
http://www.genesys.com/anz/about/resources/how-to-be-a-customer-experience-leader-getting-to-iconic?utm_campaign=APAC_2017_MIT_Report_Getting_to_Iconic&cid=7010B000001SGkJ&prc=2017_Q4_ANZ_Web_MIT_GettingToIconic-PR&utm_content=pressrelease 
). Respondents from Australia and New Zealand (ANZ) pointed to customer 
satisfaction as a key driver of their operational strategies. The report 
suggests a link between the customer-centric philosophy and a lack of 
technology maturity. Despite operating in an internet-saturated market, ANZ 
respondents consider themselves to be slower than their regional counterparts 
in deploying solutions that support their customer experience offering.

More broadly, the report reveals iconic firms are more likely to recognise that 
automated AI tools ( 
http://www.genesys.com/about/webinars/meet-kate-and-discover-blended-ai-by-genesys?cid=7010B000001gJcq 
) are most effective when they supplement and extend the capabilities of their 
customer support team, rather than replace human investment. As so, 60 per cent 
of survey respondents felt they had the right mix of "live" and automated 
customer communication channels, compared to only 26 per cent of the poor 
performers and 40 per cent overall.

Furthermore, the report concludes that iconic companies are using AI for more 
than just chatbots. Most respondents indicate AI is guiding their customer 
analytic capabilities. The report noted that optimising tools, applications and 
operational processes to engage with customers across every stage of their 
shared journey has always been a core growth strategy for successful global 
firms. This has only accelerated with the advance of technologies such as big 
data analytics, which turns customer information into predictive assets, and 
virtual assistants, which help firms more efficiently manage customer 
inquiries. 

Iconic companies are also nearly three times as likely to consider leadership 
in technology adoption as a crucial component of maintaining customer 
experience excellence. In contrast, only half of firms with low levels of 
customer experience satisfaction and low brand recognition currently employ 
enabling technologies — and ten percent have no intention of doing so.

"This research confirms what we anticipated – AI will be crucial in taking 
customer satisfaction to new levels," said Merijn te Booij, chief marketing 
officer at Genesys. "We're excited that Kate, our new customer experience AI ( 
http://www.genesys.com/omnichannel/meet-kate ), will enable a smooth and 
contextual handoff between bots and humans. The combined power of automation 
with the finesse of the human touch across the enterprise delivers the kind of 
blended AI solution every customer experience leader needs today."

Getting to Iconic includes the wide global survey and case studies from CX 
leaders such as Alibaba, BT Global Services, Lexus, Nubank, Uber, and Zurich 
Insurance. Other findings of Getting to Iconic indicate:

   -- Nearly 90 per cent of respondents from iconic companies felt they were
      adept at managing customer experience from an omnichannel perspective.
      This figure drops to 75 per cent for all responses, and 66 per cent
      amongst the poor performance cohort. 
   -- Iconic companies take a much more active role in managing their
      ecosystem. They are more than twice as likely as average companies to
      require that their ecosystem partners adhere to their CX standards, and
      nearly three times more likely to have their customer experience systems
      integrated with partners. 
   -- That said, a third of iconic companies indicate that they do not
      actively share their customer insights across their ecosystem, much
      higher than the average. Iconic companies recognise the competitive
      advantages of unique customer insight.  
   -- Corporate Social Responsibility (CSR) is also a differentiator for
      iconic companies: 75 per cent indicate it is one of the most important
      components of their brand value, compared to 21 percent among low
      performing companies.

"The leaders of iconic companies know that they also have to be leaders in 
customer experience technology investment," said Elizabeth Bramson-Boudreau, 
CEO and Publisher at MIT Technology Review. "But they also know that 
over-reliance on technology in search for efficiency gains can reduce, rather 
than increase, the levels of customer intimacy required for success."

Ms. Bramson-Boudreau added: "Iconic firms, realising the limitations of a 
technology-centric approach to maintaining desired customer management levels, 
place a high value on human capital investment, and are keen to strike the 
right balance between human and automated customer channels."

Overall, Getting to Iconic determines iconic companies are much more advanced 
in their deployment of leading customer experience technologies, including the 
use of emerging AI applications. They are also much more able to follow 
customers across all channels, and manage customer experience levels across 
their extended ecosystem.

The full Getting to Iconic report is available now. Download your copy here ( 
http://www.genesys.com/anz/about/resources/how-to-be-a-customer-experience-leader-getting-to-iconic?utm_campaign=APAC_2017_MIT_Report_Getting_to_Iconic&cid=7010B000001SGkJ&prc=2017_Q4_ANZ_Web_MIT_GettingToIconic-PR&utm_content=pressrelease 
).

About MIT Technology Review 
Founded at the Massachusetts Institute of Technology in 1899, MIT Technology 
Review derives its authority from the world's foremost technology institution 
and from its editors' deep technical knowledge, capacity to see technologies in 
their broadest context, and unequalled access to leading innovators and 
researchers.

Getting to Iconic is a briefing paper by MIT Technology Review based on a 
global survey of business leaders conducted between May and July 2017. Further 
insights were gained through in-depth industry interviews and are included in 
this report. 

MIT Technology Review collected and reported on all findings contained in this 
paper independently, regardless of participation or sponsorship.

About Genesys 
Genesys(R) powers more than 25 billion of the world's best customer experiences 
each year. Our success comes from connecting employee and customer 
conversations on any channel, every day. Over 10,000 companies in more than 100 
countries trust our #1 customer experience platform ( 
http://www.genesys.com/platform ) to drive great business outcomes and create 
lasting relationships. Combining the best of technology and human ingenuity, we 
build solutions that mirror natural communication and work the way you think. 
Our industry-leading solutions foster true omnichannel engagement because they 
perform equally well across channels, on-premise and in the cloud. Experience 
communication as it should be: fluid, instinctive and profoundly empowering. 
Visit www.genesys.com/anz on Twitter ( https://twitter.com/Genesys ), Facebook 
( https://www.facebook.com/Genesys/ ), YouTube ( 
https://www.youtube.com/Genesys ), LinkedIn ( 
https://www.linkedin.com/company/genesys ) and the Genesys blog ( 
http://blog.genesys.com/ ).

Media Contact

Renee Byatt
Genesys
renee.byatt@genesys.com 
+61 401988474

Anna O'Sullivan
H+K Strategies for Genesys
anna.osullivan@hkstrategies.com
+61 3 9868 9236

SOURCE: Genesys