As generative artificial intelligence (GenAI) is enabling businesses to scale their customer service operations and provide more proactive and impactful customer experiences, it is anticipated that by the end of 2027, the proportion of AI investments across the Asia Pacific (APAC) region in GenAI will increase from 15 per cent to 29 per cent, according to the report by Infobip, a cloud communications platform with research insights from IDC.
The Infobip eBook titled "Unlocking the potential of GenAI in CX” states that several business functions are being prioritised for GenAI initiatives. Among the top areas that C-Level Execs are looking into using GenAI are Operations (47 per cent), Customer Experience (38 per cent), and Marketing (33 per cent).
The report also highlighted that APAC business sectors that are adopting GenAI are also following a similar trend as global top adopters of GenAI, especially within the Transportation and Logistics (74 per cent), Telco, Media and Entertainment (72 per cent), Financial Services (59 per cent), and Healthcare and Life Sciences (54 per cent) sectors.
Among the top factors include the accelerated pace of tech adoption such as GenAI (33 per cent), rising costs of CX transformation services (32 per cent) and increased digital offerings from competitors (31 per cent). Leveraging GenAI-augmented solutions may just be the ticket for companies looking for a way out of their CX challenges. GenAI empowers customers to curate their rich customer journeys and quickly troubleshoot problems while allowing businesses to scale and publish high-quality creations to multiple digital channels.
“Research shows that 69 per cent of the Chief Executive Officers (CEOs) in APAC see AI as a significant opportunity for business growth and differentiation. At Infobip, we are helping businesses of all sizes leverage AI to transform customer interactions. We believe that GenAI will enable businesses to create fully automated flows, delivering welcome messages, product recommendations, and support --both before and after purchase -- through a single automated conversation," said Ivan Ostojic, Chief Business Officer at Infobip.
Despite the huge potential of GenAI to revolutionise customer experiences, only 18 per cent of APAC businesses are still in the early stage of AI adoption while 64 per cent have either leveraged AI or Machine Learning in selected use cases. Just 18 per cent of APAC businesses have advanced AI/ML capabilities. GenAI's slow adoption among organisations may be due to certain key challenges that need to be addressed first, such as regulatory compliance and security concerns.
"GenAI is set to transform how we design, implement, deliver, and scale customer experiences. In IDC's June 2023 Future of Customer Experience Survey, 35 per cent of CX executives believe that innovations like GenAI and Web3 will be most pivotal in shaping their future CX strategies.,”said Nikhil Batra, Senior Research Director, IDC Asia-Pacific. (ANI)
