enterprise AI solutions

5 Steps to Enhance Customer Experience with Artificial Intelligence

In a customer-centric world, businesses focus on maximizing customer loyalty, advocacy, and satisfaction. If you are a business seeking ways to improve customer experience, the following five steps will guide you on how you can leverage Artificial Intelligence (AI) to deliver a better customer experience.

Step 1: Devise a Customer experience strategy

Before you identify use cases for AI integration or decide what your enterprise AI solutions should ideally do, you must have a well-built customer experience strategy. You must have a clear vision of how better your customer journey should be. If you lack resources who can actively participate in devising such a strategy, you should outsource.

Step 2: Chart out and examine customer journey

Chalk out how customers interact with your business. Prepare a complete sketch demonstrating a complete cycle – from the discovery of product and presales to closing the deal and beyond. Identify key touchpoints and figure out the best way AI can help in enhancing customer experience at those points. You can also seek enterprise digital strategy advisory services to recognize those touchpoints in the current customer journey.

Step 3: Plan integrations with the best AI tools that help in understanding customers effectively

We can’t deny the fact that your organizations already have tons of data collected from sales representatives, basic customer experience assessment tools, social media, and more. According to Gartner, this data isn’t fit to use for assessing real-time insights into customers’ journeys. Businesses can leverage fully-fledged AI solutions that mine, categorize, arrange, and analyze the data that sums up the customer journey.

Step 4: Decide what would be best- to develop AI software from scratch or buy an off-the-shelf solution

Based on your requirements and budget, decide what suits your business- getting enterprise AI solutions developed for your business from the ground up or buying an off-the-shelf solution. If you choose to get it developed, make sure to hire best Artificial Intelligence consulting services to plan its effective development and deployment. On the contrary, if you choose to buy a white label solution, make sure it has all the required features.

Step 5: Track performance

Recognize key performance indicators (KPIs) and then set milestones for performance tracking. Focus on small victories and let their frequency create a momentum for welcoming the bigger ones.

Bonus: Step 6: Leverage the Best Artificial Intelligence Consulting Services

After considering the 5 step methodology, here is a bonus step that should be followed for improving the efficiency of the above-mentioned process. Formulating customer experience escalation strategy, examining customer interactions and engagements, planning effective integrations, getting Enterprise AI solution developed and monitoring, tracking performance can be a daunting task. Partner with best Artificial Intelligence consulting services and it won’t be difficult for you.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

Enterprise Blockchain Consultants

How is Blockchain Accelerating Digital Transformation: Part 1

Technology is steering the change from tradition to modernity in almost every aspect of life. Emergences and advancements in technologies powered by innovations have been reinventing the world for businesses and customers.

A survey by Computerweekly shows that COVID-19 has accelerated digital transformations. At such a crucial phase, it is indispensable for the heads of innovation, CTOs, CIOs, and more to leverage enterprise digital strategy advisory and recognize the most effective use-cases and exploit technologies to the maximum potential.

Blockchain remains the talk of the town, dominating conversations about digital transformation. The points below explain the potential of blockchain to steer digital transformation.

  1. Blockchain as an archetype for digitized transactions

The technology powering the incorruptible digital ledger of financial transactions, along with cryptocurrency, can potentially bring a high level of trust to peer-to-peer transactional frameworks. This also eliminates the need for a centralized authority to drive transactions.

As blockchain provides a simpler framework equipped with a high level of trust and security, it becomes an ideal choice for businesses that need to improve their transactional processes.

By leveraging the services of enterprise Blockchain consultants, businesses can successfully integrate blockchain into their operations.

  1. Blockchain as a fillip of business procedures

Speed sets you apart. With the help of digital transformation powered by the most dependable technologies such as blockchain, businesses can ensure speed in their processes.

Blockchain doesn’t just expedite the processes but also makes them more efficient. Therefore, it is a perfect stimulant for processes.

Businesses can embrace blockchain to set up a digital environment consisting of perfectly optimized processes.

Takeaway

The above-mentioned are the two advantages that businesses can benefit from, by integrating blockchain. We’ll talk about some more benefits in the next part of the blog.

Leverage Blockchain and digital transformation advisory service by Millennial Partners

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

digital transformation strategy

Key Development Areas for Digital transformation Strategy of Retail Banks- Part 1

As the wave of digital disruption is influencing every industry, the retail banking sector needs to take decisive steps to keep a competitive edge in the market, increase customer stickiness, and create new revenue streams. The digital revolution for retail banking aims to improve the banks touchpoints with their customers. By adding value to services offered, digitization is set to positively augment the customer experience.

In the ecosystem of fully-digitized banks, many high-level retail banks still strive to deviseanappropriate digital transformation strategy.

This blog discusses the four development areas to improve customer experience and accomplish fast-paced growth with digitization.

  • Fully-digitized Onboarding Process

The online opening of the account responds to the growing demand for customer empowerment by offering the convenience of place and time to customers. The ideal automated process incorporates online account opening requests (disposal & approval), online document upload & online facilitation of all further actions required for onboarding.

  • Round-the-clock Advisory Services

Retail banks must offer online customized as well as non-customized advisory. It would help customers make better decisions related to returns, savings, and investments – anytime, anywhere. The online advisory requires online onboarding of customer profiles and historical data, collection of situational data through detailed questionnaires, and other tools.

  • Smarter Money Management Solutions

The offerings (of this bracket) being delivered in most of the retail banks at the moment are like the tip of an iceberg. In the future, customers would require high-level forecasting tools that can automatically examine and classify account movements. The smarter solutions would estimate and predict future transactions based on client historical behavior.

  • Complete Customization of Services Coupled with Virtual Assistance

A customer wants to be heard and treated as a high priority. Customization and 24*7 Virtual Assistance responds to the need. A detailed customer profiling and deep analytics of complete historical data can help retail banks leverage customization in all extended services. The 24*7 assistance via traditional calls, messages, or chatbots would fill the gaps in customer experience.

These 4 key areas can enhance the customer experience through digital transformation. Retail banks can leverage enterprise digital strategy advisory services to gain an in-depth understanding of all key performance areas.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.