Digital transformation has become a critical need for businesses due to reasons’ like improving customers loyalty, driving sales, and gaining meaningful insights. All of these aspects motivate companies to embrace digital transformation strategies and invest in modern technologies.
In the current world, the importance of digital transformation can’t be understated. It’s time to take it from a concept and make it real in your company by investing in new technologies or processes that will better serve customers’ needs, which are what will help attract them even more so than before because you’re providing an experience they need instead just giving away something for free as many companies do nowadays!
Are you wondering why I should embrace digital transformation?
Actually, there are so many reasons compelling businesses to embrace digital transformation.
For any company looking to make the leap into a digital economy, one of its key components must be customer service. And when it comes down to making customers feel understood and appreciated for who they are as individuals with needs that go beyond what can be solved by software or hardware alone? It’s not only important but absolutely necessary in order to achieve total success.
A successful business thrives on happy clients — which means understanding them better than anyone else does right off the bat because you’re going up against competitors just like yourself vying over those sweet spots where people spend most freely (and often).
From all of this, it is clear that digital transformation is very critical for businesses in this age to thrive and continue making business. That’s the reason digital transformation consulting is highly sought-after. Among all of this, AI is expanding its reach and providing various incredible solutions for different applications.
Ways AI Can Impact Digital Transformation Strategies’ Success For Organizations
1. Better Understanding Into Customer’s Preference
AI is helping to more precisely define customers’ preferences and needs, leading them into a deep understanding of who they are. This allows organizations that succeed with digital transformation projects from the beginning have better customer loyalty rates as well as improved satisfied clients based on having an accurate persona-based marketing strategy in place at launch time.
AI helps companies get closer than ever before by looking beyond surface-level similarities between people while also analyzing potential problems or barriers before it’s too late!
Digital transformation consultant tells that by using artificial intelligence tools like IBM Cognitive Business Analytics, which uses big data analysis techniques including machine learning algorithms, among others, organizations can make sure there won’t be any bumps along with your strive to embrace it.
2. Predict Customer Behaviour & Trends
The use of AI-based algorithms is making it possible to create propensity models by persona, and they are invaluable for predicting which customers will act on a bundling or pricing offer.
By definition, a propensity model relies on predictive analytics, including machine learning, that predicts the probability an individual has in purchasing certain products based on their previous actions with other companies’ marketing campaigns leading them towards conversion rates such as conversions upsell/cross-sell, etc.
Propensity models have proven themselves very effective at increasing customer retention while reducing churn percentages because not only does all this help you retain your current clientele but also potentially attract new ones through better targeting techniques via characterizing each person’s personality type so there can be more relevant communication.
Also, Watch Our Video on How Artificial Intelligence Is Redefining the Success Of Digital Transformation:
3. Data-Driven Marketing Insights
AI has made it possible for businesses and marketers alike to take advantage of data-driven marketing tactics. Data-driven strategies are becoming the forefront in identifying your customers’ needs as well as predicting their future behaviour with greater accuracy than ever before, all without human intervention!
When a digital transformation company uses AI to bring in more data-driven insight, it ensures that it brings the most optimal & accurate insight. The power behind artificial intelligence also enables companies like Facebook & YouTube who rely on ads to provide better targeting options which lead us into an era where cost efficiency can be observed across key tasks such as media buying or even customer service responses. It all happened just because of AI.
A new technology called AI can be used by producers to increase their sales. The use of machine learning allows for the analysis and presentation on why consumers are not buying certain products, as well as what they might need in order make up these purchases more easily accessible through an innovative design that caters specifically towards them with lower costs associated due to efficiency gains from decreased waste production.
Read Also: Artificial Intelligence Vs. Machine Learning Vs. Deep Learning: New Ethics of Future Advancement
4. More Consolidated Security
AI is revolutionizing how organizations digitally transform their security strategies. This is because the threats to customers’ identities and personal data continue to proliferate. It’s rare you hear any digital transformation strategy prioritize securing people over Programs or Processes (PIPs).
However, the exception maybe with the BMC ADE framework, which recognizes just how integral it can potentially become in order to attain that positive customer experience — one thing they want more than anything else!
The reason for this change comes down not only from an increased need among businesses these days. Instead, it is because of the individuals who are already so wary after many high-profile hacking scandals. It is where consumers had sensitive information leaked online without even knowing about them beforehand except through other means such as articles.
5. Seamless Customer Service
The future of customer service is AI-powered. Gartner reports that companies who embed artificial intelligence into their engagement centres will experience a 25% increase in operational efficiency while also revolutionizing how care is provided for customers.
A perfect use case gave the lack or limited data available on current contexts via digital transformations strategies within eCommerce sites or brick-and-mortar stores where people can be served remotely if the need arises; this information would make all aspects more insightful and better tailored towards individual needs.
Digital transformation companies in India are testing the capabilities of AI for customer services in different industries by implementing customer interest tracking and chatbot.
6. Better Decision Making
For many businesses, the process of making decisions is difficult. With so much data available and no time left in their day for sifting through all this valuable information. So, it becomes hard to know what should be done next with your company. In fact, there are other things you wish could get back onto the track like marketing efforts or sales goals that haven’t yet been.
It is reached by way of prioritization discussions among employees at headquarters (or wherever). When using artificial intelligence as an innovative toolkit within these types of decision-making processes. It will not only let managers find themselves more confident about future prospects due. Besides, a deft digital transformation consultant can help you curate better ways to employ it for organizational decision-making.
7. Tracking & Traceability
The power of artificial intelligence is amazing. It can be used to identify patterns in large scopes data, helping organizations improve where needed with minimal time investment and providing insights about an organization that might otherwise go unnoticed or unheeded by those involved.
The benefits being derived from AI-powered systems are numerous: identifying inefficient processes while also saving money on unnecessary costs; gaining visibility into entities who have been previously difficult for managers to oversee due to their geographical dispersion across the globe (no matter how small); Improving decision-making abilities through automation which reduces human error rates significantly.
Owing to that, most supply chain companies embrace digital transformation consulting to leverage AI to improve their workflow.
8. Empowering People
There is a strong fear that the rise of AI might be humanity’s end. But it couldn’t be much further from reality. Though still an emerging technology with limitations and vulnerabilities in its programming. And, it needs to improve for humans as well as other machines alike.
Artificial intelligence could potentially make our lives easier by making things more efficient or personalized at times depending on what tasks need doing — including those involving Digital Transformations such as ones where we’ll see faster processes achieved through automation, saving time & money while empowering people along the way too.
So ultimately, both sides benefit. Humans get their jobs done better than ever before. Thanks largely due-in part because there will no longer have been any human effort required. And AIso who now have greater autonomy over how they do.
9. Improved IT Infrastructure
Evergreen IT infrastructure and integration is the new standard. This is because organizations capitalize on insights gained from AI to better scale customer experiences. Flexible, quickly adapting systems are needed for every aspect of a company’s supply chain: supplier onboarding; quality management (in case something goes wrong); strategic sourcing — getting an edge over competitors because you know what they need before it does!
This means updating your ERP or purchasing platform with features like voice recognition software. Hence, employees don’t have to take orders orally anymore-and maybe even use facial recognition at some point too.
Read More: IoT vs AI: The Difference Between the Internet of Things (IoT) and Artificial Intelligence (AI)
10. Cost Reduction & Higher Productivity
AI is making a significant impact on the manufacturing industry. It is reducing up to 20% of the conversion costs. New research from BCG suggests that producers will get more productivity. This will also help to generate additional sales.
This is because they can develop innovative AI products tailored for specific customer needs in shorter lead times. These products are based on the process automation concept that uses computer vision algorithms or related technologies like machine learning.
Keeping customers, employees and partners informed about digital transformation initiatives is a good way to earn trust. In these uncertain times, transparency matters more than ever before. Hence, organizations should be transparent with their communication plan when creating any new framework or strategy. It will help them to fit well alongside COVID-19 pandemic response frameworks.
The Modeling Framework is an excellent example of maintaining vendor relationships during public health emergencies. If you want to leverage AI to carve a mind-blowing digital marketing strategy, you should adapt for digital transformation services. However, you need to ensure to connect with a digital transformation company deft in employing artificial intelligence in different scenarios.