By 2027, the majority (60%) of top A2000 firms will reallocate 35% of their customer service (CX) budgets to emerging products and skills, according to a recent FutureScape report by IDC.
Redefining customer experience
Increasing investments toward GenAI and AI-driven solutions redefine customer experiences. IDC predicts that by 2025, 60% of A1000 firms will SURPASS competitors through real-time AI-mined data on product usage, interactions, and sentiment to direct the service and support experience.
Additionally, more than half (55%) of A2000 firms will fulfill all customer journeys primarily through conversations on AI by 2026.
IDC projects that by 2028, 60% of A500 firms will use ubiquitous experiences, edge analytics, and GenAI to customise client journeys based on their desired outcomes and values.
From 2024-2026, IDC predicts that organisations will focus on the value of AI in real-time contextual conversational capabilities. The years 2027 to 2029 emphasise edge analytics, the shift from numerous point solutions to unified platforms, CDPs as the driving engine for better customer insights, and improving customer trust, and value parity.
Strategic approach
IDC recommends a holistic technological and strategic approach to navigate the digital business era.
"As organisations continue to struggle with data siloes, and the inability to prove business value from CX initiatives, there will be a need for structural and technological changes to enable better metrics to track the bidirectional flow of value, both for the customer and for the organization,” says Lavanya Jindal, research analyst, CX, Martech, and Value Streams at IDC.
There will also be a greater focus on those AI use cases that enable contextual customer conversations, and further translate to engagement gains, retention, and customer value," Jindal adds.
