Tag: customer data

Auditable AI provides the documentation and records necessary to pass a regulatory review. With novel artificial intelligence (AI) applications multiplying like rabbits these days, it may seem like the current wave of AI innovation is all beer and skittles.

Data is a key asset to any business – that’s why it’s crucial that it’s protected. Data can help businesses understand vital information, such as customer buying behaviour or enable digital payments. However, in the wrong hands, it can be abused. Consider the risk that cyberattacks and data breaches pose to businesses.

While COVID-19 is certainly not a thing of the past, as a society we appear to be starting to find ways of living with the virus and, for most people at least, taking the necessary precautions to protect ourselves from being infected by it. The same can be said for many businesses.

This year has seen many more businesses moving online, adopting ecommerce models in an effort to continue to reach their customers as COVID-19 wreaked havoc. While this has opened up markets to hundreds of thousands of new customers, it also has the potential to create vulnerabilities that cybercriminals can exploit.

We are on the cusp of the festive shopping season, with Black Friday and Cyber Monday kicking off the spending spree in the run up to Christmas and Boxing Day. However, this year’s shopping season will be very different compared to previous years as a result of the COVID-19 pandemic. The upshot is that many South Africans are emerging from the pandemic with considerably less spending power.

Experian - a consumer, business and credit information services agency – has experienced a breach of data which has exposed some personal information of as many as 24 million South Africans and 793,749 business entities to a suspected fraudster.

The insurance industry needs to get ready for ‘Insurance 3.0’ – the next stage of evolution for the industry to accommodate the changes brought on by our current pandemic. But wait, aren't we still trying to reach level 2.0? Yes and no.

Marketing ultimately drives the sales of any business. Without it, many companies wouldn’t sell their products or services and wouldn’t survive in a highly competitive environment. By empowering organisations to reach their target audience, marketing has become a modern-day business essential, particularly in trying times.

In a dynamic, connected environment where sensitive customer data is highly attractive to hackers and forms the lifeblood of the business, facing a cyber-attack is no longer a case of 'if', but 'when'. Of greater concern is how to minimise the impact on their business and on customer trust.

While it has become easy to fall into the trap of only paying lip service to customer experience (CX), it is one of the most important aspects of doing business in 2020. But how can companies differentiate themselves when their customers have so many different and unique options available to them?