DIGITAL TRANSFORMATION ACROSS INDUSTRIES
Different industries are reaping the benefits of data-driven intelligence to increase their performance, optimise their processes and enhance their bottom lines. In this blog, we shall look in brief how this is taking places in the different industries, in the form of an overview.
Automobile industry - Digital technology is bringing in the scenario where the focus has moved from products to providing “mobility” experiences to the customer base. With the supply chains going high – tech and modularisation of production capabilities, the vehicular industry can meet customer demands in a better fashion – and deal with the opportunities that are disrupting the industry.
Banks – Banks and allied industries are using artificial intelligence (AI), machine learning, blockchain, and advanced analytics to provide more relevant and superior customer service to their many clients. A superior engagement leads to client loyalty and chances of up selling as well as increasing their public relations in a subtle way.
Insurance industry – Digital and intelligent tech is being used to make the industry into a “lean and mean machine”, deal smoothly with regulatory requirements and even minimise risks. The aim is to increase client base and provide a good customer experience to distinguish between various products that the companies sell.
Oil and gas – The focus on digital transformation in this sector is to reduce manual processes and bring down overall costs. Tech is an enabler to improve functioning and to make the companies as efficient as they can / want to be.
Retail sector – Retail companies and outlets are harnessing digital intelligent technologies to improve the overall customer experience and engagement issue. Thus, customers engage with these brands as per their convenience, get access to relevant & detailed information and so on. This improves customer retention as well as they convert to unofficial brand ambassadors.
Manufacturing industry - companies are finding paths to deliver the lot size of one on a global scale based on outcome-based models that are based on client requirements and experiences.
High tech industries – Firms are transforming their supply chains into intelligent networks that perform effectively as clients purchasing behaviour is seeing quite a few changes. The focus is on service and customer satisfaction.
Hospitality industry – Hospitality industry and hotels are using digital tech to enhance the customer experience as smooth and seamless as possible. From digital check – ins / outs to menus which are on electronic devices are just some examples of how tech is being used in a large way. Client loyalty is on the increase based on the use of intelligent tech as relevant data is used to keep repeat customers happy for example if a repeat client likes particular drinks, snacks, pillow types etc, the same is provided. Everything is noted, used to build superior client engagement to keep them coming back visit after visit.
As you can see from the above, digital technologies and artificial intelligence are being harnessed in big ways in different verticals by companies of all sizes to keep afloat and more.