In 2024, the adoption of next-generation customer data platforms (CDP) will increase, thanks to the recognition of the benefits that this technology brings, beyond basic use in marketing. This is based on predictions made by a value analyst firm.
The Valoir 2024 report focuses primarily on data utilization for customer relationships (CRM). In this area, CRM solution providers leverage data integration and artificial intelligence (AI) to provide the benefits of CDP, which is a compilation of software tools that form a unified database. Improved benefits of using AI with CDP include more efficient sales conversations and data-supported prediction methods, such as lower sales staff turnover. customer service.
The Advantages of a Data-Driven Approach
Companies that adopt this data-driven strategy allow their sales teams and customer Be more agile, responsive and intelligent when interacting with your customers. Although CDPs have been around for years, the report highlights that today's ability to integrate, normalize and leverage trusted data empowers businesses to use AI algorithms and intelligent workflows to deliver value at the pace required.
I share Valoir's view that we will see an increase in the adoption of CDP platforms due to growing customer demand for faster, more personalized, reliable and intelligent user experiences. Companies that want to remain in the market must be able to provide value at the pace of demand: a standard of excellence defined by their customers, not themselves.
Five Valorir Predictions for 2024
Here are five additional predictions from Valorir for the 2024 business and technology landscape:
The merger of EX and CX
: By 2024, we anticipate greater integration of employee experience (EX) and customer experience (CX). By using larger sets of data, including human resources information, companies can focus on improving stakeholder experiences, which is central to customer and the service chain. Based on my research and direct interactions with business leaders, I believe that generative AI, natural language processing, and other machine learning-adjacent AI solutions can enrich both EX and CX. Trusted data is the fuel that powers the engine of AI-powered experiences.
The end of the polls
: Companies will opt for real-time voice and sentiment analysis to better understand the needs of customers and employees in critical situations. Smart companies will look for less biased and costly methods to improve their response abilities to new situations. To empower and engage their employees, companies will also adopt more regular and personalized touchpoints. I completely agree with Valorir's prediction about the principles operareal-time response tives. Companies need a new model operative that allows you to add value and correct course in real time. To achieve this responsiveness, companies must also focus on trust, data, artificial intelligence and automation.
The failures of AI
: Valoir points out that while AI will bring great benefits, productivity and automation in 2024, it will also experience failures. The lack of maturity of the technology, coupled with the lack of adequate policies and procedures, training and inappropriate safeguards, will lead to failures in its adoption and implementation. I believe success lies in establishing effective collaborations with suppliers and working with companies that have a proven track record in implementing powerful new technologies. I also believe that the successful adoption of any new innovation is based on culture (core values), people, processes and, finally, technology.
Skills boom
: The rise of AI makes it easier to create and update dynamic skill ontologies. Valoir indicates that companies need to better manage the skills their talent brings to the table at a granular level to ensure business continuity and succession. Additionally, increasing AI adoption requires awareness of which skills are most vulnerable to automation. Companies should also consider how to train their workers in adjacent and higher-level skills that will be needed in the future.
Impact of hybrid work
: There is a need for clear and consistent hybrid or remote working policies and practices to ensure all employees have equal opportunities for advancement.
READ MORE ARTICLES ABOUT: AI Courses.
READ THE PREVIOUS POST: OpenAI presents the 3rd version of DALL·E.