As artificial intelligence continues to capture the imagination of the tech and mainstream media, Forrester’s new AI TechRadar report for customer intelligence professionals (CI) takes a pragmatic view of what it can do for business in the future.
Well publicised breakthroughs from major tech companies, like Google, Apple and Amazon, have placed AI high on the technology agenda. However, business leaders are struggling to make sense of how this technology could and should be deployed in their organisations.
“To put it mildly, this is confusing for businesses, who are trying to determine what is real and what is mere snake oil,” writes Forrester senior analyst and co-author of the report, Brandon Purcell. “Forrester believes AI will significantly disrupt the way organisations win, serve, and retain customers… eventually. To do this, it will take massive amounts of data to train artificially intelligent systems to perform their jobs well enough to replace their human counterparts.”
In the report, Forrester points out that as storage and processing power advances, AI is gaining some traction amongst businesses, allowing companies to generate insights and engage with their customers.
Forrester says AI is uniquely suited to help optimise customer interactions across touchpoints and channels. This is largely driven by the technology’s ability to process huge amounts of data, which can inform real time action. Moreover, in the near future, business leaders will be able to blend technologies such as facial scanning, text analytics, machine learning, and natural language generation (NLG) to better engage with their customers.
AI also has the ability to surface insights automatically, with banks today already using such technologies to detect anomaly for fraudulent transactions. Combing through massive data sets will also allow for better data analysis, particularly when it comes to unstructured data.
Despite these early successes, Purcell believes that it may take time and work before the real benefits of AI will be realised.
“AI is not a homogenous set of technologies, and some tasks will take longer to automate than others. And, despite the fact that the goal of AI technology is to free humans from some intelligence tasks so that they may more effectively focus on others, the process of creating this state has significant challenges for human designers and engineers,” Purcell comments in the report.
One of the main challenges facing the adoption of AI into mainstream business is the lack of a clear business case. Forrester points out that the research and academic communities were the first to develop and deploy AI technologies, and businesses are only now jumping onto the bandwagon. Organisations still require a clear ROI to justify an AI investment.
Time and skills are also potential hurdles. Artificially intelligent systems require massive amounts of training data to learn to perform specific tasks. While some vendors offer pre-trained solutions, even these will require many additional hours of training and refinement before they can be deployed.
When it comes to skills in the field, Forrester says there is a clear dearth of talent. “If data scientists are unicorns, then specialists in AI are their even more rarely mentioned winged cousin, Pegasus,” comments Purcell in the report. “There are a handful of notable researchers in academia who specialise in deep learning and AI, but the talent pool for businesses is extremely shallow. Additionally, since AI adoption for businesses is so nascent, there are even fewer people with the ability to deploy AI in a business context.”
Making use of its TechRadar methodology, Forrester identified and analysed the current and future prospects of 12 AI technologies and solutions in their comprehensive report. According to the analysis, the company placed two technologies in the Creation phase, six in the Survival phase, and four in the Growth phase. None were placed in the Equilibrium or Decline phases due to the relative immaturity of AI, with the company saying that, when it comes to AI, “…we are still in chapter one.”
Summing up the analysis, Forrester points out that, despite many doom-mongers, AI will not be a threat to most jobs. While there may be some losses in the call centre and other positions, for the most part, AI will free employees from banal or onerous tasks with little value-add. The report also assures readers that there is no imminent rise of the machines about to take place and that humankind is not facing an immediate threat from AI. In fact, it is the role of the Customer Intelligence leader to separate the myth from reality.
As part of its extensive AI research and analysis, Forrester has also completed a TechRadar report on AI for application development and delivery professionals.
Now download a bank account
Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.
This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.
“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.
“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”
The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:
- Download the Absa App
- Choose the account you would like to open
- Tell us who you are
- To keep you safe, we will verify your cell phone number
- Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
- Tell us where you live
- Let us know what you do for a living and your income
- Click Apply.
How we use phones to avoid human contact
A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.
Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances.
Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?
The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.
In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.
Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.
Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”
To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:
· I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?
With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.
· Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?
Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.
· I’ve lost my phone! How will I keep myself entertained now?
Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.