In the automotive space we’re seeing a continuous expansion of technology platforms and tools used by the industry to deliver across many business goals, these are largely driven by M&A activity in the tech space, and also of course the arrival of AI.

At Connectivity CX were focused on technology to deliver the best possible omnichannel guest experiences for our customers’ customers, and their prospects. We’re also heavily invested in technology to drive automation, improve efficiency, increase revenue and reduce cost.

Technology is an area which is vibrant, can deliver huge value, bring into play new experiences and better ways of working but can also be hugely frustrating and extremely costly. All technology has its good points and its bad points, ask anyone who has pondered if they made the right investment in their DMS over the last 10, 15, 20 years…

McKinsey reported recently that 75% of companies experienced software regret in the last 5 years. The average cost of failed implementation of that software was in the region of $29bn.

Over 50% of the companies we work with at Connectivity have not implemented an omnichannel approach to engagement with their customers yet. 50% of the worlds contact centres have not yet either?

This comes as no surprise when you consider the tools available, being sold to solve problems and deliver solutions, it’s a scary thought investing significant amounts of budget in something that might be the wrong solution? Its another tool your team have got to long on to and learn? And mistakes can be costly if you buy the wrong product.

Given the size and scale of the products around and if they integrate into your existing tools or workflows is simply vast.

And here’s the real rub. Customers and prospects don’t care how many tools you have got or how they integrate with your business or what they cost. Customers are just looking for the best possible guest experience that delivers on their needs through whatever channel of communication method they wish to use, on whatever day they wish and whatever time they like. Our job is to be able to respond, and quicker than ever before, delivering information, services and products they need.

Based on the size of the prize, the stakes involved getting things wrong along with the investment required, how do we at Connectivity CX view ‘hanging our hat’ on building, investing and partnering with the right technology partners to deliver the best tools possible to our customers, and what learnings do we have?

We have tried to take a balanced approach where we research what’s in the market, what we should build rather than buying in and what solutions we’re solving for to deliver the outcome goals.

Right now especially with AI, there is a lot of FOMO and in actual fact that can often lead to software or tech build regret investing in the wrong products.

So we recommend you take a balanced view, which takes more time. Invest in things that solve for problems while ensuring they deliver clear business value from the outset.

We recommend you create an environment for experimenting with things or a number of different tools to harness research or take the best experience of each and apply that to your own build or a different tech partner.

AI

Looking at AI specifically which is advancing at a significant rate we have moved very quickly from a place where people speak about AI because they feel they have to have to some form of solution or service but in actual fact don’t have a best business case for it. More recently we are now seeing that as new features are being invented every day the business use case and value is becoming much clearer to a much wider audience.

Within Connectivity CX we have seen a ten fold use in AI over the last 12 months, and we pretty much forecast we will see a ten to fifteen fold use in AI within the business in the next 6-12 months.

AI pricing is going to change significantly. There will be some consolidation in the market or other providers bowing out to the big players.

At Connectivity CX we don’t see jobs in the main being replaced by AI. Rather, jobs will be done by team members who harness the power of AI to deliver an outstanding personal service and greater productivity.

If any of our customers or RAA members would like a coffee and a chat about their current technology in place, what your needs are to deliver on your business goals moving forward, even if its to pick our brains about all the automotive software we use and have touched over the last 10 years working with our customers, drop me a line by email or SMS and I will happily meet up with you in person or online for a quick chat.

Allistair Carmichael
Connectivity CX MD
allistair@connectivity.cx
SMS/Call: 07891 22 33 44