The current generation will say that they have never experienced a pandemic as big as the one that hit the world back in late 2019, causing disruption and upending society on scales larger than imaginable right up until today.
When this took place, Covid-19 single-handedly drove the acceleration of a landscape that encouraged and promoted technology, innovation and all things data. Think online meetings, online shopping, online classes from kindergartens to universities and yet, all these were just a small smidgen of the magnitude and impact the pandemic had on us.
One major effect that took place for the better was the growth and usage of artificial intelligence (AI) and analytics in a broad range of industries, including telecommunication, retail and many others. Let’s dive deep and see exactly how digitalisation has accelerated some of these industries:
Telecommunication
The telecommunication industry is one that had to drastically adapt and manoeuvre through the pandemic, especially when dealing with customers. It was notably important at that point for its infrastructure to run smoothly without disruptions because people relied on its service on a daily basis.
One of the main changes the industry went through is its customer interaction where everything physical had to be digitised. This encompassed all from sales to billing and to the fixing of cables and infrastructure. Telcos that already had a head start in this area flourished well, while others looked to various solutions to help them move past quickly.
Engaging in customer experience and having insights into what customers really want was a focal factor for many telcos. Where physical surveys were previously used, now telcos had to turn to digital tag surveys and data to collect relevant information.
One of the main changes the industry went through is its customer interaction where everything physical had to be digitised.
Retail
Retail is probably one of the most impacted industries due to Covid-19 when everyone went into isolation and lockdowns. But the adaptation of technology provided a new dimension for it to not only function but produce efficiency, profitability and continue to scale up from there.
Analytics uses customer data to specifically target people based on their gender, age, and background demographic, so sellers can plan and strategise marketing or advertising plans. It’s exactly how a buyer will most likely see the same category of items they previously searched for or purchased online. It was no longer needed for people to walk into a physical brick-and-mortar store, considering people were terribly fearful of catching the virus.
AI assistants today have been gaining popularity where an actual person is no longer required to answer enquiries or manage complaints as chatbots took over, allowing businesses to focus on more demanding tasks to ensure that it operates smoothly. All these became even more evident during and after the pandemic phase, as things ramped up in the e-commerce industries.
Analytics is using customer data to specifically target people based on their gender, age, background demographic, so sellers can plan and strategise marketing plans or advertising.
Solutions that matter and work
There is an undeniable increase in urgency and direction to create digital offerings as businesses began to move into the digital sphere. And there have been certain forward-thinking companies in Malaysia that have begun crafting reliable, AI-driven end-to-end intelligent platform solutions long before Covid-19 hit. One of them is TM R&D, the innovation arm for TM Group that focuses on building ecosystems to help businesses run more smoothly and efficiently with their advanced tech solutions.
There is an undeniable increase in urgency and direction in creating digital offerings as businesses began to move into the digital sphere.
Some of the solutions that TM R&D offers are Single Platform on Intelligent Customer Experience (SPICE.ai) and Analytics of Customer Experience (ACE). SPICE.ai is an integrated AI-driven customer experience platform that lets telecommunication companies to better manage customer service, enhance productivity, increase digital channels and lower customer complaints. Using AI and machine learning, the solution offers Automatic Speech Recognition (ASR) and Next Best Action (NBA), allowing customers to interact directly with the system minus a live agent. It also provides targeted marketing by suggesting new offers through recommendations.
Analytics of Customer Experience (ACE) on the other hand looks at analysing customer experience and footfall within a physical area and make suggestions on how to make the experience better. Businesses using ACE could gather insights about individual customers based on customer traffic, demographics, dwelling time, and interaction through emotions. It uses two non-intrusive techniques to monitor customers for further input and action. ACE is also cleverly designed as it can differ between customers and retail staff.
Pushing for a better future
To conclude, the decree for digitalisation isn’t new but questions on its validity and whether it was needed were answered by the pandemic. It is evident how things shifted so rapidly, bringing everyone into a clearer view and focus on the importance of elements like AI, data analytics, and everything technology. This seems to be just the beginning, and in a good way too as crisis pushes innovation and new ways of doing things. Many businesses have been propelled into a leapfrog position to adapt to a world that looks very different from pre-pandemic. It’s safe to say that in the coming years, more ground breaking solutions will be developed so stay tuned!
About TM R&D
Established in 2000, TM R&D is a world-class R&D company of TM Group; with a special focus on Intelligent Connectivity, Advanced Analytics, Artificial Intelligence, IoT and Digital Platforms. The organisation helps businesses to solve operational issues and co-create solutions for the global market. To date, TM R&D has commercialised 18 solutions and deployed seven platforms for TM saving the Group millions in operational efficiency and support. Additionally, TM R&D has generated more than 2,800 Intellectual Property Rights (IPRs) with 100 percent adoption of all its innovations since 2016.
For more information about TM R&D and its innovations, visit www.tmrnd.com.my or email your inquiry to business@tmrnd.com.my or follow them on LinkedIn (TM Research & Development) for more news and updates.
