The concept of cognitive computing and A.I has been much discussed recently, in the same way that real time marketing was a few years ago. While there have been a limited number of practical applications of this technology to date, there is no doubt that the concept is set to dominate the landscape for some time. All the big players such as Adobe, Salesforce and IBM are vying to take the lead here, with IBM’s Watson in particular making waves in the industry.
The next few years will see organisations start to get to grips with what cognitive computing can offer. While there is much fascination with the potential for cognitive, there is still an element of nervousness from many organisations, especially when it comes to A.I. This is not unfounded, as A.I has not yet reached the point where it can run without careful human monitoring.
There are still fundamentals to be worked out to achieve true machine learning where the machine is fully responding and recalculating on changing inputs without any programming from a human party.
More fundamentally, though, businesses need to look beyond a ‘gimmick-led’ application of these technologies and instead investigate how it can be applied to actively improve personalised customer experience.
For example, this could take the form of a holiday company knowing that an individual likes to ski, has two children aged six and nine, has been on skiing holidays before in the February half term and favours Italian resorts over French ones, and then drawing information from 1st, 2nd and 3rd party data as well as analysing weather statistics and flight information and then offering appropriate holiday options based on this information.
Again, data is the key here. The more relevant data that is gathered, the more personalised the experience for customers. The importance of having excellent processes in place to capture and manage data is perhaps more significant than ever. As data scientist Bradley Voytek famously said while at Uber: “I don’t need to know everything about everybody. I just need to know a little bit about a whole bunch of people.”
Those that succeed will be the ones who can properly leverage both data and technology to make customers’ lives better.
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