We are almost at the halfway mark of 2017, and I thought it would be a good idea to capture some emerging trends, and explore how business will be impacted in the coming months…
Trend #1 – Chatbots
Bots seem to be everywhere these days. And, cutting-edge organizations are rushing to deploy them. Bots today are kind of what Apps were like, just a few years ago – it sounds like every one should have one. Surely, bots offer some real advantages, and chief among them is the ability to automate repeated tasks at a fraction of the cost (of a human/manual alternative). That’s a great use case for organizations that are in scale-up mode.
What role, if any, will bots play in your organization? How can your business leverage this emerging technology to reduce operational costs or improve responsiveness? How will that impact the team?
Trend #2 – Sinking Data Costs
Intuitively, we all know that data costs are significantly lower than they used to be. In India, disruptive players like Reliance Jio have already upset the apple-cart and eroded market share (and profits) of the established telcos. Worldwide, voice and messaging is rapidly being replaced by VoIP/VoLTE and web-based messaging, with data now being the primary use of a mobile phone. Broadband Data costs inside the home are also more affordable than ever.
What will this do to Internet and Mobile penetration in emerging markets? How will customer behavior change? Will users go beyond chat and e-commerce? Is your organization ready for the next phase of evolution?
Trend #3 – Aadhaar, Everywhere
In the India context, we are witnessing no less than a revolution in terms of data linkages and availability. 1 Billion+ users have already registered for an Aadhaar id, with 93%+ coverage among adults. This, naturally, establishes a strong foundation for payments via financial inclusion, but that’s not all there is to it. Increasingly, services like filing IT returns and booking air tickets are being linked to Aadhaar. The IndiaStack APIs already offer a robust platform comprising Aadhaar + eKYC + eSign + Digital Locker, reducing Customer Onboarding time from days to hours, and we have only just begun.
How will this ever-connected universe of data impact privacy and consumer protection? What will it to to service levels? How will customer expectations evolve over time? What is your organization doing to stay ahead of the curve, or keep up with the changing dynamics?
The answers will not be easy to come by, and may differ for each one of us. As we head into these winds of change, here’s hoping we ask the right questions… and embrace Change.