Emerging Technologies – New Toys, No Value

AI is here. 5G is here. IoT is here. Where’s the customer?

In a world rapidly evolving through digital transformation, emerging technologies stand at the forefront of innovation. However, in the race to integrate the latest advancements, many businesses lose sight of a crucial element – the customer experience.

The Rise of New Technologies

From the realms of artificial intelligence to the interconnectivity promised by the Internet of Things (IoT), emerging technologies are reshaping our world in unprecedented ways. Take, for instance, the development of blockchain technology. Initially conceived for digital currencies, its potential for secure, transparent transactions is now being used in diverse sectors like supply chain management and voting systems. These technologies are not just tools; they are gateways to possibilities previously unimagined.

The Risk of Technology-First Strategies

Sometimes, companies get caught up in the excitement of new technology, much like purchasing advanced power tools but forgetting essential working parts of a house. This approach can lead to impressive but ultimately unliveable structures. Starting with an exciting new technology instead of focusing on user needs can make these investments pointless.

Creating Value with Technology

The key to successfully adopting new technologies is to see their value from a user’s perspective. What advantages do they offer? How do they improve customer service? By envisioning the future through the eyes of the user, companies can develop a plan to make that vision a reality. This user-centric strategy ensures technology acts as a bridge to the future, rather than just being a shiny new toy or another gadget with limited benefit.

Case Study

Service model overhaul – revolutionising asset support for a major financial institution

A financial institution was facing service issues with their incumbent support model, which impacted their customers’ network uptime and productivity. The incumbent was failing to meet the Service Level Agreement (SLA), and in-life assets lacked proper coverage for OEM technical and software support.