A much smarter, adaptive and scalable solution is to use intelligent platforms. Such platforms allow product owners to work with their market to understand the very many ways a customer needs to go about their journey to mastery and provide them with an experience that increasingly recognises the experience that the customer wants or needs and serves that up, evolving intelligently over time. This is the power and promise of AI. Whilst AI today is primarily focused around operational efficiency, automating processes to increase accuracy and reduce cost, over time the robots will be deployed to work with customers inside the user experience, keeping the experience novel and engaging.
Big Tech, such as Ant Financial, Google and Facebook, are rapidly capturing share with this data and event driven model. As they do, and gather a rich war chest of data that Big Tech is integrating into every part of our lives and capitalizing on every aspect of real-time data insights. They’re becoming the “go-to” payments providers for many of us and as Google is showing, banking is next.
Data is not just for risk decisioning. The real prize is in engagement and this will be delivered by intelligent platforms that keep pace with the customer.