Artificial Intelligence Applied to the Customer Experience in Latin America, 2018
Information technology (IT) is something of a misnomer. It has always been about data. We have become experts at generating, collecting, managing, transmitting, and storing data. With the advent of Big Data and its hardware equivalent, the Internet of Things (IoT), this ability to reduce the world to data streams has reached its ultimate expression. It is now possible to literally apply all available data to any problem we want to consider. There is one problem, though: not enough time or people.
Ironically, it is limitations in terms of people that has become a barrier to the effective use of data. This is because data is not information. Information is data in context, or more simply, the logical relationships within collections of data, and it takes humans to perceive those relationships. However, as the data collection expands exponentially, human perception will be inadequate to extract meaningful relationships from the same. In the past, the desire for more data led to what was called analysis paralysis, which implied the lack of data-delayed decision-making. Now, with the ability to access all the data available, we still have analysis paralysis, but for the exact opposite reason: too much data.
AI, especially machine learning (ML) technologies as applied to advanced analytics, provides a means to transcend the limitations of human analysis, and it helps to evolve from data-centric IT to information-centric IT. AI also provides the capabilities to deliver true intelligence technology, and once trained, it requires no human involvement to extract meaning from large data sets. AI is the secret ingredient for the transformation of IT.
This growth insight aims to analyze AI when applied to the customer experience. It targets AI applications in customer care as a whole, moving beyond just chatbots and virtual assistants (customer-facing). The regions covered include Brazil, Mexico, Central America and the Caribbean, the Southern Cone, and the Andean region.
The insight presents market definitions, overview, and drivers and restraints. It provides insights regarding growth opportunities, emerging trends, and key takeaways that will affect market participants.
Key Issues Addressed
What is AI all about (main elements and definitions)?
What are the greatest opportunities/challenges for its implementation in terms of customer experience?
What are the key drivers and restraints for growth in Latin America?
Who are the key competitors?
What are the main applications of AI beyond virtual assistants and chatbots?
Which are the key verticals and how do they apply AI for the customer experience?