Tag: customer experience (CX)

The emergence of Edge Artificial Intelligence (AI) is fundamentally transforming the way we think about data processing and decision-making. By shifting data analysis and processing to the very ‘edge’ of a company’s network, decision-makers can ensure their remote offices can access real-time computing across multiple locations.

As the year draws to a close, the festive season emerges as a pivotal juncture for both South African businesses and consumers, laden with anticipation and opportunity. With South African consumers facing financial hardships in the form of multiple interest rate hikes and fuel price increases, research indicates that South Africans are still projected to spend over R200 billion this festive season

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 digital native culture and the rapid pace of technological advancements have triggered a revolution in the way we communicate, with the proliferation of online platforms and digital communication channels. It has brought about a significant transformation, leaving traditional forms of communication forever altered.

In a dynamic world dominated by digital interaction, the power of connection is undeniable. The modern business landscape demands a profound understanding of omnichannel conversations as a key player for success.

The evolution of consumer expectations in the insurance industry is reshaping the traditional insurer-customer dynamic. Customers are no longer satisfied with a one-size-fits-all approach; they are looking for a more personalised, meaningful, and continuous engagement with their insurance providers.

Auto insurance is leading the charge with the adoption of dynamic pricing, which entails developing policies that are more cost-effective for low-risk customers and using a different premium model for high-risk policyholders. There is significant potential for life and health insurers to capitalise on this momentum and embrace this model within subsets of their product offerings.

Property technology (commonly known as proptech) is on the rise globally. The escalating significance of proptech within the industry is underscored by its staggering projected market value - poised to reach $86.5 billion by 2032.

A survey conducted by Gartner has found that chatbots will become the primary customer service channel for about a quarter of the world’s organisations by the year 2027, having evolved over the past decade into a critical technology component of a service organisation’s strategy.

Undertaking high-impact change throughout the organisation can potentially create business opportunities while entrenching resilient and engaging customer experiences. Fast, agile and dominant. These are the terms used to describe technology companies and that McKinsey believes are key to the success of the organisation.