Today’s Artificial Intelligence (AI) is what we like to call light AI. It uses algorithms and big data to analyze customers and behaviors, then spits out solutions or offers based off that data. The machines don’t posses any real “intelligence”.
But that doesn’t mean we should ignore it or overlook its capabilities. In the current AI era, this information is still super useful for personalizing a customer experience and learning more about your business. As telcos undergo their digital transformation, they should think of ways to transform their business using AI. This includes staying informed on new capabilities, because soon enough we will experience true, empowered AI!
Adoption of AI Among Gen Z and Alpha
AI has infinite potential and consumers have already adopted it in its early stages. So, it’s not a stretch to assume that further development would also have high adoption – especially among Generations Z and Alpha.
Born between 1995 and 2010, Gen Zs live a hyper-connected, on-demand lifestyle that centres around their devices. With a 97% device penetration rate, the Gen Z’s retail expectations are radically different from any generation before them.
Immediately following the Zs are the Alphas. Born between 2010 and 2025, these kids are already more tech savvy than the average adult. As the children of millennials, these kids are exposed to cutting-edge technology at home, and most have their own device by age 4.
AI in 2019
A primary use for light AI in the digital retail world is for personalizing products and offerings. In a previous blog, we touch on how personalization will grow in response to the demands of new customers.
We see AI in action when we use our Netflix account and scan the movies “suggested” to us or ask our voice assistant a question. These AI cases collect information from your previous interactions with the technology and generate personalized offers based on those interactions, predicting your next move.
AI in the Future
Through digital transformation and the expansion of AI, personalization is only going to improve. This has potential to really help retailers further transform their business.
These journeys are most effective when humans and AI work together to create exceptional, efficient, personalized experiences. AI plays a big role in these experiences, but it is important to note that no machine could ever create more customer value than a living human.
It’s a biological need – no matter our age – to interact with other humans. Without sales reps in-store working with AI, a big element of the experience will be lost.
What would your dream AI journey look like? How can you make it happen in your store?