Tag: Artificial Intelligence (AI)

Ideas that begin as lockdown coping strategies can also revolutionise your business. As any South African business person will tell you, the COVID-19 pandemic has been a stressful time to be running a company. However, as we have worked to mitigate the effects of COVID-19, we have also gained a glimpse of what the future of business might look like. It is an exciting prospect.

To leverage data and automated communications, marketers have to embrace responsible personalisation. With consumers and businesses alike becoming ever more dependent on digital products, services and partnerships, our digital footprints are growing exponentially.

Even though the challenging economic environment is resulting in companies maintaining their focus on reducing costs, 2020 also brings with it many opportunities to grow the business. This can be attributed to developments happening in AI, BI and RPA that are starting to push boundaries this year.

For many enterprises, their siloed, traditional Supply Chain Management (SCM) systems are proving to be their Achilles’ heel when trying to operate in unprecedented circumstances, preventing business continuity and resilience.

What does the economic downturn mean for the asset management sector and how should we respond? The asset management industry is facing uncharted territory as it grapples with the impact of COVID-19 on business models and the challenge of integrating technology into their existing business models.

Businesses must release new, exciting digital experiences and products at higher velocities than ever before to remain relevant and continue to increase their share of wallet in this brave new world which we refer to as the post-digital era. This unprecedented pace of innovation has several unintended consequences, which, if not purposefully addressed, can erode trust and alienate customers.

We have released the latest 2019 South African Customer Satisfaction Index for Short-Term Insurance. There is a fallacy across many businesses that digital transformation and customer experience and satisfaction are interchangeable. They are not. 

Businesses will have to embed innovation in their DNA to future-proof their operations for the unparalleled pace of technological change in what we refer to in our Tech Vision 2020 as the post-digital era. In the past, businesses with a unique asset could enjoy a competitive advantage and sweat that asset for ten, twenty or even thirty years before their competitors caught on.

Digital disruption has clearly hit the banking industry hard across the globe. The first decade of the 21st century initiated enormous change in the way financial institutions operate and this has only accelerated over the years leading up to the current 4th Industrial Revolution (4IR).

People’s love for technology has let businesses weave it, and themselves, into our lives, transforming how we work live and interact in this new world which we are referring to – in our Tech Vision 2020 – as the 'post-digital era'. But now we are being held back.