Investments in Customer Experience (CX) technology is all set to soar as 74 per cent of organisations in the Middle East plan to invest more than $200,000 in 2022 reveals the Intelligence Report launched on the sidelines of Customer Experience Live Show Middle East on 24th May 2022. This investment is set to increase as the metaverse ambitions of organisations are getting materialized, and over 75 per cent of companies that took the survey have either completed a pilot or have an active team working on metaverse projects.
Providing key insights on the regional CX industry the report states that Middle Eastern organisations are building their CX capabilities and constantly undergoing a metamorphosis in order to adapt to business pressures and uncertain economic conditions. Businesses are showcasing agility and undertaking a tactical approach to CX as 62 per cent of companies plan to revisit their long term CX strategies while 40 per cent plan to make significant investments within 1 year.
Artificial intelligence has changed the way brands connect with customers, making it easier to create personalized experiences and nurture long-term relationships. As organisations seek to increase customer understanding, improve loyalty, and reduce churn rate, 48 per cent believe that digital transformation implementation or expanding AI, chatbots, analytics, and cloud capabilities are of utmost importance to meet consumer demand and enhance the experience.
Riding the wave of digital transformation, Middle Eastern businesses have a vital task at hand of taking all these customer experience challenges heads-on and delivering on increasing customer expectations. Leaders of the region’s growing businesses came together at Customer Experience Live Show Middle East held over two days from 24-25 May 2022 at The Meydan Hotel, Dubai to delve deep into exploring emerging technologies, business models, and customer-centric strategies to deliver strong corporate performance and tackle current challenges.
Organized by Customer Experience Live, a unique digital platform, the event is dedicated to the regional CX industry, enabling organisations such as Emaar, Azadea, Mediclinic, Mashreq, First Abu Dhabi Bank, Al Rawabi, Unilever, Careem, OSN Talabat, GE Healthcare amongst others to create seamless interactions that reflect and enhance the value of a brand at every touchpoint. Supported by Sprinklr, Oracle, SAP, Ujet.cx, First Hive, Hootsuite, Qualtrics, Emplifi, Valtech, Freshworks, Calabrio, Uniphore, and Verint, the event saw over 600 senior leaders gather and share insights on how they transformed CX and automation into a growth lever for their organisations.
Speaking at the launch of the Customer Experience Live Intelligence Report for 2022, Ayusha Tyagi, Managing Director, Customer Experience Live, said, “Organisations have struggled with unique challenges like the great resignation, change management, organizational inertia in the uncertain economic times, subsequently, there is growing reliance on intelligent automation, AI and cloud to create the enterprise of the future and reduce pressure on employees, customer service and contact centre agents. Cloud experience management is enabling organisations to equip their employees with analytics that can assist them in delivering exemplary service to their customers. This is seen in the results wherein 57% companies are investing in total experience management and cloud experience management solutions while 42 per cent are re-evaluating VOC platforms”.
Adding further Ayusha Tyagi said, “The Middle East is clearly a market growing in global prominence for the CX industry with organisations showing quickness in adapting next-gen solutions driven by the vision of the top executive leadership. The role of the CX is evolving fast and CX leaders who can predict performance gains and risks, ahead of the competition, will be able to create a competitive advantage for their organisation. By analysing patterns in customer behaviour, businesses can foresee demand, forecast revenue, and estimate the impact external forces will have on their business. Time and again data is touted as a magic ingredient in CX's success. Accordingly, 56 per cent of companies are reevaluating their data analytics and data security platforms and 42 per cent are enhancing their CRM and CDP.”
“To deliver a happier and more engaged customer, organizations must break the silos by unifying care and marketing under one platform,” said Haitham Elkhatib, Divisional Vice President, Sprinklr.
Organisations that have effectively invested in the digitization of the CX journey and made a mark to that effect were recognised at the Customer Experience Live Awards held on the first day of the Customer Experience Live Show Middle East. Mashreq Bank, AXA GIG Gulf, Spotify, Medcare, Raya CX, Verint, channels by stc, Riyad Bank, Fakeeh Care, flyadeal, ADES Arabia Al Mouj, Omantel, PDO, solutions by STC and Beema were winners in 2022.
The CX show was further complimented by Intelligent Automation, AI & Bot Show 2022, Middle East's only IA show prioritising the intelligent automation agenda for corporates while helping business leaders explore strategies to unlock momentous new capabilities, reduce costs, increase efficiencies, be leaner and customer-focused. As hyper-automation and personalisation take centre stage, intelligent automation is the common winning strategy being leveraged by organisations to transform processes and deliver the bottom line.
“Data is the cornerstone of CX. At Medcare we have invested in having all our listening & learning ports activated so that we are able to capture true Customer voice from all channels. We are constantly listening to their needs both “stated and unstated” and creating Unique Medcare Service Signatures” for them to have a memorable experience with us”, said Shanila Laiju, CEO, Medcare on receiving the Best Service Design Transformation award.
“Workato’s Enterprise Automation Platform enables companies to orchestrate data, processes, and user experience across the entire enterprise. Workato is committed to the region to ensure organisations are able to gain monumental benefits through its platforms” said Robert Ekstrom, Vice President and General Manager EMEA, Workato.
Workato, UiPath, Automation Anywhere, Square Technologies, Resolve, Appian, Aspire Systems, Fournxt showcased how organisations can leverage intelligent automation and AI to be better prepared for the future of work.
As the future of work evolves, stakeholders will need to adapt to constantly changing work situations. There is no doubt digital CX and IA will enable enterprises to stay competitive and be future-ready. Subsequently, business leaders will reap triple wins ie cost redemption, efficiency gains and preparing work for future readiness.
To download the report and to know more about Customer Experience Live, kindly check https://www.customer-experience.live/cx-live-show
