Customer Data Meets AI

Everywhere you look, customer data is exploding. People (and their devices) are all connected—even household products are sharing data. Behind each and every interaction, device, and product is a customer. This equates to an unprecedented opportunity for companies to delight customers with experiences that are more intuitive, relevant, and predictive than ever.  Artificial intelligence (AI) embedded into commerce and customer relationship management (CRM) platforms creates striking new possibilities for the customer experience and beyond. Indeed, the business world is now entering a golden age of AI, and both customers and employees can expect to reap the benefits. AI startups received more than $5 billion in venture-capital funding in 2016, according to CB Insights, and IDC projects that worldwide revenues from cognitive systems and AI will reach $47 billion by 2020. Across industries, regions, and functions, the opportunities are significant. In fact, Accenture predicts AI could double annual economic growth in 12 countries by 2035. Meanwhile, the implications for the internal and external customer experience are equally compelling. Advances in algorithms and computing power, combined with the abundance of data from which AI algorithms can learn, equate to powerful new uses of AI that are transforming customer and employee experiences to…

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