Tag: customer data

South African businesses are rushing to adopt generative AI, attracted by its potential to boost efficiency, productivity and innovation. However, without a solid cybersecurity foundation, AI will act as a Trojan horse, exposing companies to advanced cyber threats.

Every organisation is working to harness artificial intelligence (AI) to improve sales and customer service experiences. However, great AI relies on data. Traditionally, companies have used structured data, such as rows and columns, often from customer relationship management (CRM) applications.

Does anyone remember when banks and insurance companies lamented that customer information couldn’t be leveraged effectively? This was because it was locked up in silos. Surprisingly, you don’t need a long memory - this was only about 12 months ago. And it remains a major issue for large organisations. Many still struggle to integrate disparate divisions dealing with the same customers, but separately.

Consumers are familiar with phishing emails, fraudulent SMS messages and social media scams. However, the scale and complexity of cyberattacks on critical sectors far exceed these relatively simple threats. Entire industries and governmental bodies face increasingly sophisticated attacks. These attacks can cripple essential services, cause significant economic damage and compromise sensitive data on a massive scale.

World Innovation and Creativity Day fell on the 21st of April, reminding us of the boundless potential inherent in human ingenuity and technological advancement. Artificial Intelligence (AI) stands at the forefront of this celebration, reshaping the landscape of business operations and customer engagement. The combination of advanced data analytics with cloud computing has propelled AI into the spotlight, making its integration more accessible across industries.

South African business leaders might be willing to invest in artificial intelligence (AI) to improve their business operations, but they are being held back by a crucial ingredient: technical skills. A recent snap poll we conducted shows that budget is not an issue, but a skills vacuum is.

As artificial intelligence (AI) becomes increasingly integral to business operations, data governance is essential to ensure the ethical and effective use of this technology. Integrating AI responsibly into business processes must be an organisational priority.

Moving to the cloud is essential. Businesses that don’t move to the cloud can, to some degree, add complicated layers to their legacy systems in an effort to keep up with the times, but eventually, they will be forced to make the move.

In recent years, South Africa has embraced the global phenomenon of Black Friday. While, for businesses in this country, it's tempting to focus solely on the immediate potential that this flurry of buying activity presents, small and medium enterprise (SME) should take a much longer-term view of Black Friday, understanding its real potential to underpin long-term growth.

The concept of diversity is well understood in most businesses, as is the negative impact of having leadership teams made up of people who are homogenous in their backgrounds, beliefs and cultures. Research has shown, for example, that greater diversity in start-ups is equated with greater likelihood of success.