5 ways to navigate disruption with GenAI –

Is your brand unlocking the full potential of a generative AI?

Today’s digitalization is changing the way we do things, and that’s putting it lightly. As the AI industry booms and technology bleeds into almost every facet of our day-to-day, brands are feeling the pressure to evolve with the rest of the world and meet customers where they’re at.

One strategy that’s gaining momentum is the use of GenAI, or generative artificial intelligence, to enhance and optimize the customer experience. This probably comes as no shock to you, as everyone seems to be flocking to invest in the tech — 85% of enterprises believe investment in GenAI is critical in the next 24 months, and North American businesses plan to invest 67% more in GenAI in 2024 to drive efficiency, experience and growth.

So how can your brand not only keep up but thrive in this tech-obsessed landscape? How can you cut through the clutter to meet your customers where they’re at? GenAI is a major key to your success, but how you use it can be a make-or-break situation. That said, let’s break down five ways to use GenAI to navigate disruption.

1. Manage, monitor and analyze operations

GenAI can be your behind-the-scenes superhero if you understand the power it can bring to your operations. By taking advantage of machine learning and data analytics, GenAI can give leaders real-time insights in one place — trends, KPIs, predictive analytics and more — that seamlessly integrate with existing systems. These analytics have a wide range of applications depending on what data they’re set on, helping decision-makers improve in areas like operations, customer interactions or agent performance. In fact, ISG research shows these applications carry the highest amount of mature use cases, with 57% of predictive analytic use cases categorized as mature.

2. Overcome complexity with cross-functional data

By breaking down silos and connecting the dots, GenAI enables brands to gain a holistic view of their sales, marketing, supply chain or customer data. This helps leaders gain a comprehensive understanding of what’s happening from an operations standpoint, which helps them pinpoint areas of improvement. 

3. Improve process efficiency and technological development

GenAI can learn and adapt to new data, allowing it to stay abreast on tech advancements and evolving business landscapes — which is pretty handy in a world that’s constantly changing. Brands can rely on GenAI to develop solutions that reduce workload and quickly update systems.

4. Quickly adapt to evolving customer expectations

The ability to learn about your customers is invaluable. GenAI is like a secret weapon to understand them, with key insights on how and where they’re connecting. Once brands have the knowledge, they can now strategize and cater to how customers want to be served, through which channels and deploying which features.

5. Create proactive and personalized experiences

GenAI has revolutionized CX by making customer interactions with each individual more proactive and more personal. Since GenAI can study customer habits and conversational sentiments, it can understand preferences, behaviors and needs on a granular level, and then generate insights or even direct copy to enhance interactions. A good example of this is a virtual assistant that either deals with customers directly or is a helper to a human agent. Armed with insight into what the customer needs, it can predict customer preferences and anticipate their needs, enabling your brand to tailor offerings and recommendations in real time.

Is your brand unlocking the full potential of GenAI?

According to ISG research, most enterprises rank their own customer experience low…just 20% rated their performance significantly higher than their peers.

If used correctly, GenAI can be an invaluable “co-pilot” for agents and operational leaders in the contact center to help supplement their own judgement and intelligence. But success hinges on your ability to understand how to use this technology and make it work for you to amplify your productivity and efficiency. To guide you through the process, Foundever™ has partnered with ISG in a new whitepaper: “Navigating Disruption with Generative AI Strategies.” In it, we outline the strategic role of generative AI, how to use it to build a future-proof CX ecosystem and how to scale your strategies for long-term success.