S1 Ep 23 | AI Business Benefit: Is it Here Yet?

In this episode, Angus and Pete look at the impact AI is really having on the CX industry and people, jobs and the customer experience. The conversation highlights the need for a clear understanding of current capabilities and the challenges faced in data management and legal considerations. Ultimately, they emphasize the importance of a strategic approach to AI in customer engagement encompassing employee training and cultural change.

Takeaways

• Evidence of AI delivering significant business benefit is still hard to find.
• A lot of vendor claims seem unrealistic and lack context.
• Study shows no clear evidence of AI reducing labour costs.
• Businesses see more benefits when employers encourage AI use.
• A strategic approach to AI is necessary for real benefits.
• Training and cultural change will drive effective adoption of AI tools.
• Understanding current state is crucial for accurate ROI predictions for AI.
• Data quality is a significant challenge for AI deployment.
• Many organisations see security and privacy as the top challenge in AI deployment.

Keywords

customer engagement, CFO, financial metrics, ROI, project viability, compliance, opportunity cost, resource allocation, business case, customer experience