But where GenAI makes the difference is that even as it pulls up information it can also generate and provide a context. This is because GenAI tools are based on large language models (LLMs) and equipped with enhanced levels of natural language processing (NLP) capabilities. It also represents a departure from traditional AI systems in that it excels not only in pattern recognition but also in creative and generative capabilities that closely resemble human output.

GenAI’s creative prowess includes the generation of synthetic data that can replicate real-world information. These datasets are designed to be indistinguishable from human-generated data and are crucial in enhancing customer service by facilitating the development and training of AI models—a capability beyond the scope of traditional approaches.

Importantly, GenAI uses a conversational tone that makes the interaction more relatable. It takes agent empowerment to a different level as the application can create personalized content and elevate the CX. These capabilities have profound implications—by empowering to join the dots in a meaningful manner, it has plugged the gaps in harnessing AI.

Translating GenAI-powered CX into ‘Moments of Delight’ 

Gartner predicts that by 2025, 80% of customer service and support organizations will be applying GenAI technology in some form to improve agent productivity and CX. Another Gartner poll finds that 38% of leaders want to improve CX and retention with GenAI applications.

Over time, GenAI will blend within the customer service organization seamlessly assisting agents by taking over repetitive tasks; summarizing customer information from multiple channels; providing context with sentiment analysis, and many such activities. GenAI-enabled systems will move from providing updates and information to bridging the gap between the digital and human realms. According to BCG, GenAI-enabled customer applications will initially assist human agents, and eventually, bots will become as good as human agents.

Customer reps will be empowered to answer more complex queries with accurate responses based on real and synthetic data. For instance, if a traveler has a botched reservation during a vacation, GenAI will assist with insights into the customer journey, gaps in the reservation, insights into current rates, customer preference, and comparative rates with new reservations, while also throwing up data about different loyalty programs—all on a single screen empowering the agent to kickstart an informed conversation on an empathetic note.      

In effect, bots will execute the tedious work allowing agents to focus on establishing a human connection during a moment of crisis. At the same time, GenAI’s capacity to analyze customer sentiment and predict churn will assist representatives in proactively addressing issues with offers and outreach programs.

As systems mature empowered bots will become indistinguishable from humans assisting customers with most queries, transitioning from reactive to proactively solving problems by directly reaching out to customers with preventive solutions.

Eventually, GenAI-enabled support will be customized to act as a personal assistant of individual customers who fully understand the relationship with the company, anticipate needs, and interact with other systems to get a complete picture of the customer life cycle.

Getting the Next Steps Right is Vital

Companies are fervently experimenting with use cases to identify the correct ones. This is a crucial step in training the model on business-specific data. Use cases with the highest ROI are ideal to start with and empower agents with context around the customer, product, and interaction, as well as guidance on how to best solve the customer’s issue. Research finds that a connected agent strategy improves contact center efficiency by 30%, and reduces attrition.

While GenAI is good to act as an assistant, it is still not mature enough to demonstrate human-like agency. Businesses will take time to figure out the right use cases, correct model, the ROI and align it with the overall strategy. Yet the action on the ground is more important than intent and a well-formulated strategy around customer experience is the natural thing to gravitate to—it is where the biggest learning, refining, and impact happens. The unprecedented race has begun and a thoughtful strategy that encompasses design, strategic alignment, workforce collaboration, and synthetic data will empower organizations to achieve GenAI-enabled CX transformation.

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Much of the disruption is being driven by technology and medical advancements facilitating a holistic approach—preventive and continuous care as opposed to treatment; omnichannel engagement as opposed to facility-based interactions; and personalized care as opposed to standardized protocols.

At the same time, US healthcare market is witnessing a flux with increased mergers and acquisitions and non-traditional players entering the market. Retail pharmacies such as Walgreens and CVS Pharmacy are making fast moves into healthcare with new models of primary care, just as Amazon’s acquisition of care provider Primary One is set to disrupt delivery, insurance, and pharmacy services.

These trends—fanned by an imperative to reform healthcare delivery—are converging towards preventive and value-based approaches to healthcare, which are gaining currency across all stakeholders.

DIGITAL ACCELERATING NEW HEALTH TRENDS

Digital is playing a crucial role in accelerating reforms towards affordable care; new patient-centric models; improved health outcomes and lowering the total cost of care for members and customers. Significantly, consumers are driving digital innovations demanding convenience and choice with new models of delivery such as telehealth, embracing m-health applications and virtual care via remote monitoring.

Healthcare reforms like The Affordable Act have triggered a shift amongst insurers to engage with consumers directly and digital channels like member portals presented opportunities to deliver new customer experiences (CX). Digital empowered providers and payors to drive CX and better health with deeper collaboration amongst specialists, equipment manufacturers, and support services. These imperatives are forcing healthcare to innovate at speed and scale to create best-in-class products that appeal to consumers.

RAISE THE GAME WITH DIGITAL PRODUCT DEVELOPMENT

Healthcare companies are at a crossroads struggling to focus on value-creation while designing superior digital products due to IT skill shortages and high attrition rates. Winning healthcare companies are beating this challenge by partnering with specialist digital product studios and healthcare IT consulting services to create products at speed.

According to Gartner, the shortage of IT skills is the most significant barrier to emerging tech adoption, and attrition amongst IT employees is higher than in other professions—tech workers change jobs every 2.7 years while employees in other professions do so every 3.2 years.

Lack of career development is the number one reason for attrition and IT employees usually do not find satisfactory career paths in non-IT companies as they may not have the technical breadth and depth.

CRAFTING HEALTHCARE EXPERIENCES WITH DIGITAL PRODUCT STUDIO

Digital product studios are a select breed of partners with a deep understanding of healthcare with a digital-native lens helping organizations identify, design, and build the right digital products. Teams comprising UI/UX designers, developers, project managers, and CTOs with scalable resources coalesce to build outstanding digital products.

Specifically, the following benefits accrue when partnering with this category of partners to develop healthcare IT solutions.

Digital-native lens for UI/UX: Deep understanding of the healthcare customer journey to design experiences with UX design principles, intuitive interfaces, seamless navigation, and personalized experiences for insurance claims and payment; physician consultation; support services; treatment, and prevention.

Digital Assurance: Brings ownership to ensure digital transformation success with quality assurance across the chain in process, data, and CX. Stabilize healthcare user journey with unified digital experience testing, automation, and AI-powered methodologies.

Automation: Intelligent automation combining RPA and AI/ML to automate provider lifecycle management; patient engagement; claims adjudication; and risk adjustments for payors and providers.

NEWVISION’S HEALTHCARE PLAY

NewVision has been partnering with top US payors and health-tech companies to deliver cutting-edge digital products by leveraging the following key concepts.

Embrace a service-design approach: Develop a data-driven understanding of how payers use digital tools and widen the spectrum of services to meet new needs across the provider lifecycle.

Understand the power of new platforms: Deep collaborations with industry giants like PEGA, UiPath, and Microsoft where a platform approach uses data to develop intelligent, highly customized experiences that integrate several services with a single touchpoint.

From establishing new Cloud-based platforms to operational processes, emerging market leaders must prioritize flexibility, speed, and ongoing development to break through current internal systems that are typically silos.

We elevate the game from passive partners of healthcare IT services to active co-creators of value-driven healthcare.

If you want to know more about our Digital Product Studio services, write to us contact@newvision-software.com 

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A technology services provider with a digital native mindset understands the significance of this shift and embeds agility and adaptability in its DNA. This equips the service provider partner to quickly identify new technology trends and translate them into value by combining a deep understanding of the business environment, functional needs, and new operating models.

For instance, when IDC says worldwide digital transformation investments will reach USD 3.4 trillion by 2026 it presents opportunities for a digital native technology company to pro-actively invest and build capabilities in emerging technologies such as Cloud, automation, digital product engineering, data engineering, and automation to create continuous value for its customers.

Thriving with Digital Transformation

A digitally transformed business is empowered with disruptive capabilities that include the following.

UX-LED DIGITAL PRODUCTS: An ability to create innovative digital products to meet customer expectations, replete with UX design principles, intuitive interfaces, seamless navigation, and personalized experiences. Companies like Apple, Uber, and Airbnb have excelled in this area creating immense stakeholder value.

PREDICTIVE ANALYTICS: Employs advanced analytics and tools to extract actionable insights from vast amounts of data. For instance, Netflix utilizes analytics to understand user behavior, viewing patterns, and preferences to personalize recommendations and optimize the content library accordingly. Data-driven decision-making enables companies to understand customers better, predict trends, and drive strategic initiatives.

AUTOMATION-LED EMPOWERMENT: Empowers the workforce with automation, transparency, and streamlined internal processes. Technologies like RPA can weed out inefficiencies of manual processes allowing employees to focus on higher-value activities—chatbots in a customer service center can handle routine queries while agents attend calls that require empathy and understanding.

Winning with a Digital-Native Partner

The road to digital transformation is fraught with danger with a failure rate as high as 70% – 80% according to research. Working with an experienced digital-native partner navigating the transformation journeys of many companies provides access to institutional knowledge and industry best practices to ensure predictable and successful outcomes. Specifically, benefits include the following.

INTUITIVE DESIGN APPROACHES: Deep understanding of business that places the customer at the heart of everything it does. This enables the partner to design innovative digital products or enhance existing ones by defining customer journeys via intuitive design approaches with cutting-edge technologies. From ideation to design and development, digital-native partner brings value with a user-centric approach and a commitment to creating continuous value.

AGILE METHODOLOGIES: Businesses can take advantage of a continuous feedback loop, frequent experimentation, and feature adaptation to achieve the best business outcomes by using an agile and iterative approach to development and problem-solving.

TESTING & ASSURANCE: Testing capabilities assure digital products are highly available, secure, and deliver high performance in the production environment.

MIGRATE WITH CLOUD-NATIVE ARCHITECTURES: Successfully migrate with Cloud-native architectures to take advantage of flexible, scalable infrastructure. Empowered with agile infrastructure, businesses can experiment frequently, expand quickly and collaborate with partners seamlessly by exploiting the API economy.

DATA & ANALYTICS: Translate the latent power of data into powerful insights and informed decision-making. Data is the fuel for digital transformation and an expert in advanced data architecture and analytics can help you unlock meaningful insights from vast amounts of data to identify new opportunities, optimize operations, and enhance customer experiences.

ENABLE AUTOMATION: Drive driving operational efficiency and agility with robotic process automation (RPA), workflow automation, or IT process automation. Streamline repetitive tasks, reduce errors, and enhance productivity, while allocating resources to strategic activities to accelerate growth and innovation.

LEVERAGE ACCELERATORS & BEST PRACTICES: Working with a vast array of customers across industries, digital-native technology partners have insights into different verticals and are able to pass on the insights to businesses in the form of accelerators, institutional knowledge, and industrialized processes that shorten the time to digital transformation.

NewVision As Partner of Choice

Businesses need technology services providers who are more than technical experts to navigate the course as digital partners in the quest for transformation. NewVision is a digital-native technology company with an entrepreneurial mindset that works alongside customers to facilitate digital-enabled growth; provide scalable models to support expansion; and manage and optimize business operations to bring certainty, reliability, and predictability to drive success.

The post Designing Successful Transformation Strategies with Digital-Native Technology Partner appeared first on Newvision Software.