#59 - The Future of Digital Customer Relationships (with Jamie Smith)
Sep 22, 2023
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Jamie Smith, digital technology expert, discusses the future of digital customer relationships. Topics include customer engagement channels, maintaining a human touch in digital interactions, intermediaries' influence on interactions, shifting focus from quantity to quality, and the evolution of identifiers.
Organizations should embrace self-sovereign identity and personalized channels to improve customer engagement, reduce costs, and build trust.
A new customer engagement channel centered around self-sovereign identity and personalization can revolutionize the way organizations interact with customers.
Personal AI has the potential to transform customer experiences, but privacy, trust, and governance considerations must be addressed.
Deep dives
The importance of self-sovereign identity for organizations
Organizations should take self-sovereign identity (SSI) seriously as it will impact how they interact with customers in the future. The current methods of customer engagement, such as call centers and push notifications, are becoming less effective due to cost-cutting efforts and digital transformation. Instead, organizations should focus on personalized channels where customers have more control, such as messaging apps, email, websites, and apps. By embracing SSI and empowering customers with their own digital tools, organizations can improve customer engagement, reduce costs, and build trust.
The need for new channels in customer engagement
Current customer engagement channels, such as messaging, email, websites, and apps, have limitations and can be overwhelming for customers. There is a growing need for a new channel that prioritizes the customer's control and experience. By giving customers their own digital tools, such as personal AI and digital wallets, organizations can offer a more seamless and personalized customer experience. This new channel, which centers around self-sovereign identity and personalization, has the potential to improve customer outcomes and create a 10x improvement in the way organizations engage with customers.
The potential of personal AI in shaping customer experiences
Personal AI has the power to revolutionize customer experiences and decision-making. With personal AI, customers can have their own digital tools that are trained on their data and preferences. AI can provide personalized recommendations, offer guidance, and help customers achieve their goals. This personal AI can go beyond simple tasks and extend to areas like health, politics, and purchases. However, as personal AI becomes more powerful and intimate, important questions arise about privacy, trust, and governance. Organizations should be mindful of these considerations as they explore the potential of personal AI in shaping customer experiences.
The impact of AI on identifiers and digital trust
AI is transforming the way identifiers and digital trust are managed. In the context of self-sovereign identity, individuals having control over their identifiers is crucial. AI can help individuals manage and utilize their identifiers more effectively, resulting in improved digital trust. Additionally, AI has the potential to offer personalized recommendations and guidance based on an individual's data, further enhancing digital trust and customer outcomes. However, with this increased reliance on AI, concerns around privacy, security, and digital intimacy must be addressed to ensure the responsible and ethical use of personal AI.
The emergence of a personal AI market and the role of organizations
A new market for personal AI is on the horizon, with individuals having their own digital tools that offer personalized experiences and recommendations. This market presents opportunities for organizations to provide value and build trust by participating in the personal AI ecosystem. Organizations will need to adapt their strategies and consider the incentives that drive customer engagement in this new landscape. Additionally, the concept of organizational identity and its role in the customer experience cannot be overlooked. As AI becomes more prevalent, organizations should focus on delivering personalized and valuable interactions while addressing privacy and ethical considerations.
Jamie Smith has over 15 year's experience designing and delivering digital technologies and disruptive business models around the world. He specialises in privacy, digital trust, Self-Sovereign Identity, Personal AI and helping organisations embrace new decentralised identity approaches and systems. He is currently Product Director at Gen Digital.
The full list of topics discussed between Jamie and Mathieu in this podcast episode include:
Exploring Customer Engagement Channels: What are the various channels organizations use today to engage with their customers, and what are their respective pros and cons?
The Human Touch in Digital Interactions: In an era dominated by digital communications, is there still value in maintaining a human touch in interactions between organizations and individuals?
Bureaucracy in Communication: How has bureaucracy infiltrated various communication mechanisms, and what does this mean for consumers seeking genuine interactions?
The Role of Intermediaries: How do intermediaries like Google and Apple influence our interactions, and what role do they play in the ongoing transformation of digital identity?
Quality Over Quantity: How can organizations shift their focus from quantity to quality in their interactions, ensuring more meaningful and impactful engagements?
The Evolution of Identifiers: How have identifiers evolved in the digital age, and what role do they play in shaping the future of customer engagement?
Empowering Consumers with Identifiers: How can giving control of identifiers to consumers enhance their interactions with organizations and deepen relationships?
Organizational ID and Trust: How can organizational identifiers enhance trust and combat fraud in digital interactions?
The Intersection of AI and Customer Engagement: (a) What are the exciting developments in the AI space, and how can they enhance customer experiences? (b) How can AI, when fed with the right signals, revolutionize recommendations and insights for organizations and individuals? (c) What is the potential of personal AI in transforming customer experiences, and how does it differ from organizational AI?
A Message to the SSI Community: What key insights and messages does Jamie have for the SSI community as they navigate the future of digital identity?
