AI in daily business functions | Andy Fitze | Engati CX
Andy Fitze takes the hot seat in this episode of Engati CX where we discuss the use of AI in daily business functions.
Andy is the Co-Founder - Managing Partner - CIO of SwissCognitive - The Global AI Hub. He’s also the President of the Swiss IT Leadership Forum. Andy pioneers in Global Corporate Growth Strategies and Digitalization Management Roadmaps Strategic and Tactical Leader for Multimillion-Dollar Global ICT Operations. He’s a digital enterprise leader and is transforming business strategies keeping in mind the best interest of shareholders, customers, and employees.
AI in daily business functions - A Video with Andy Fitze
AI in daily business functions
This section will contain a summary of our interview with Andy. But, if you’d like to listen to him speak, you can catch the entire video in the Spotify podcast embedded below.
Is AI really at the nascent stage? What do you expect to see in the near future?
Everyone wants to see the forecast of AI on a crystal ball, according to Andy. In terms of the readiness of AI, we’re quite far ahead. Now we have to consider managing the next steps in explainable AI.
We have to start the conversation about data, government structures, and data processing. We also have to discuss infrastructure- how we organize ourselves in corporate architecture. And general infrastructure- how can we use Cloud, especially for large corporations. It’s a huge hassle.
If you haven’t already integrated cloud into your architecture, you probably have some homework to do when it comes to AI.
Cognitive intelligent chatbots and automation will change the customer service scenario. Would you agree with that?
Approaching new technology and new opportunities is tricky. Replacing processes of manual work with new technology isn’t the best way to handle expectations from the customer side.
We have to rethink and re-engineer and think around the corner if it comes to replacement and engagement of technology in any customer interaction.
More or less, what we’ve done in the last few years is just replacing the person behind the counter with new technology. But to really achieve something outstanding, we have to think outside the box. It has to be absolutely customer oriented and it has to re-engineer interactions.
Think about this- why do we call? Why do we have these constant interactions with customers? So customers feel like they have a friend around them.
We have to bring something new to bring us to the next level.
We also have to think about the reception of new technology. A lot of people love chatbots, but it really depends on the industry, on the solution, and what additional services we already have.
Here’s an example. An SME manager has been thinking about incorporating a new technology to manage their workload. They’d like to have something like a banking chatbot for frequently asked questions, and information about their payments without having to manually search through bank statements.
So we have to develop a bot to match this specific use-case. We also have to ensure it has personality, and can handle these interactions. Which is a challenge.
Transaction chatbots is something all customers would like to have. To have answers.
The best possibility is when the transition from chatbot to live agent becomes so seamless, that the customer doesn’t realize a human has taken over. It should feel like they’re just talking to another agent.
All we need to do is provide an environment where we can help them.
How are startups leveraging AI, how are they benefiting from applying it to the digital world?
Startups are great for the economy and ecosystem. They have extended the work of large corporations in terms of having innovation in the ecosystem itself.
Startups push innovation at its best.
What corporations find risky, startups take those risks to achieve better solutions for their clients. And it’s paying off.
Startups have a better position in the market nowadays since most markets are now global- something we didn’t have 10-15 years ago. And it’s all possible because we live in a digital world now.
And it doesn’t matter what technology is being used- the combination of a global market with technology, and being a part of pushing innovation for the whole ecosystem is what creates a healthy startup environment.
There is a lot of talk on Singularity as a concept, when machines start replicating machines as a kind of skynet. What are your thoughts on it? Do you think singularity is likely to happen by 2028, as Google says?
Unfortunately, Andy doesn’t talk about terminator and sci-fi. That's for another episode!
To clarify, we have narrow AI and industry base that we can use now and we haven’t. We’re in a place now where we’re ready to implement these new technologies. We’re ready to engineer products and services around us.
But we haven’t. And the question is- why?
Why are we not there?
Why are we not using all of this tech?
We know technology has a large potential because of reports and research papers, yet we still haven’t used it. And here’s the truth- when it comes to prediction, we are always behind the curve. Andy who specializes in practical AI use cases knows that there is a potential in front os us to use it. What’s lacking is awareness. It’s our job to make people aware, to make the marker aware, and to show the best use cases of AI. We have to show how to use it, how to approach it, what the first step is, and how to befriend AI with all other technologies. And then the next step in front of us is to elaborate and develop AI in the future.
There are a lot of missing pieces before achieving singularity. One of the missing parts is how to navigate the new possibilities of any kind of new tools with ethics- how we deal with singularity, as a society.
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AI in daily business functions – A Spotify Podcast with Andy Fitze
We hope you learned a lot about AI in daily life. Engati CX will be back with a new expert in a new episode soon. Stay tuned.
Find Andy Fitze
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Now that you’ve learned about the use of AI in daily life, it’s time to learn about humanizing business. Check out our interview with Stacy Sherman to discover ways to enhance the employee experience.
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