What Every Executive Needs to Know About AI
AI is changing the game
It will change how companies deliver value to their customers, and it will supercharge productivity. In some industries, these transformations will lead to the emergence of entirely new business models. Going forward, robust strategies need to incorporate the risks and opportunities posed by this dynamic technology.
Reinvented customer value
AI will revolutionize the way that customers interact with companies, transforming what they value from products, services, and experiences.
Intelligent agents will transform what customers value via:
HYPERPERSONALIZATION
VALUE-ADDED SERVICES
AGENT-LED DISCOVERY
Enabling detailed customization of offerings at scale
Reimagining service experiences and democratizing personal assistance/advice
Shifting discovery from a manual, multistep search to a proactive, streamlined agent-led chat
This transformation creates significant opportunity across industries for both business-to-business (B2B) and business-to-consumer (B2C) players
Hyperpersonalization
Value-added services
Agent-led discovery
AUTOMOTIVE
RETAIL
Imagine if …
… an intelligent agent could provide customized conversational decision-making support to help customers find their dream car
Personalized recommendations Based on users’ budgets, hobbies, needs, and preferences to identify best-fit models, features, and financing recommendations
Decision support Conversational support in natural language to synthesize input and drill down into decision drivers to provide options and talk through trade-offs
Seamless scheduling Virtual assistant to help schedule appointments for test drives at locations close to the customer at most convenient times for their schedule and nearby traffic
Supercharged productivity
AI will empower companies to transform key elements of their operations, fueling productivity gains and expediting innovation.
Intelligent agents will transform worker productivity:
KNOWLEDGE TASK AUTOMATION
WORKFLOW AUGMENTATION
CONTENT AND OUTPUT GENERATION
Democratizing knowledge and technical skill sets using supercharged search and synthesis capabilities
Performing non-routine functions, information processing, or judgment-based tasks
Creating original content (e.g., creative, code, etc.)
This transformation creates significant opportunity across industries for both B2B and B2C players
Workflow augmentation
Content and output generation
Knowledge task automation
MULTI-INDUSTRY
An intelligent agent …
… can minimize product formulation time while increasing output quality
Fast and efficient innovation process Creates new product formulations quickly and more accurately by analyzing data from existing products and identifying patterns in chemical components and proportions
High-quality formulations Ensures that formulations meet company or market criteria by setting product specifications
Targeted recommendations on going to market Receives recommendations on which regional markets or customer segments to target first based on market intelligence
An intelligent agent …
… could support sales agents to easily cross-sell beyond home and auto
Streamlined meeting prep and follow-up Intelligent agent could recap past interactions in preparation for a meeting, interrogate transcripts to confirm specifics discussed, and draft follow-up emails (including recaps, recommended products, and action items)
Personalized product recommendation Based on customer profile and interaction history, suggests relevant products and content from internal knowledge base
Customer-centric coaching and insights Coaches based on customer sentiment, what worked vs. did not work, and how to improve; also provides insights on how a series of conversations are evolving
An intelligent agent …
… could simplify and optimize supply chain decision making
Reduced stock-outs with intelligent forecasting Intelligent agent leverages large datasets, including historical sales data, reviews, and economic indicators, to produce more accurate demand forecasts
Optimized production planning Analyzes production capacity and inventory levels to identify potential bottlenecks or capacity constraints, enabling manufacturers to ensure that they are producing enough product to meet demand, while avoiding overproduction
Automated supplier matching AI-powered algorithms analyze and compare requirements of a given need with the offerings and capabilities of potential suppliers, making the decision-making process more efficient and expedient
An intelligent agent …
… can generate code and debug existing code
Automated code generation and speech-to-code Intelligent agent generates new web code using a set of user-input requirements, specifications, and design patterns Converts natural language description of software features and requirements into code, bridging the gap between software engineers and nontechnical stakeholders Intelligent automation and debugging Automates repetitive tasks, such as code formatting or code review, to help developers to focus on more complex tasks Analyzes patterns and logs to detect bugs and errors in existing code and suggests resolutions
