4 ways best-in-class companies are embracing Business 4.0
The convergence of digital, physical and biological technologies is transforming the world around us. This new world will be shaped by the companies that can best harness ‘Business 4.0’.
Digital to its core, Business 4.0 encompasses technologies such as automation and artificial intelligence. It is fundamentally redefining how organisations interact with customers.
The organisations that will thrive in the future will be those that align their business models with technological innovation. It is the responsibility of all companies – regardless of size or structure – to respond to this digital challenge now.
But some are better equipped to respond than others. Those that have been quick to rise to the challenge are already beginning to reap the rewards.
Four such companies outlined their approaches to Business 4.0 at the TCS Summit Europe 2017 in Madrid, and the ways technology is revolutionising how they drive growth.
1. Predicting customer behaviour
AI is becoming increasingly prevalent in the aviation industry. Airlines like KLM use the technology to respond to customers on social media, generate answers that assist call centers, and even carry out maintenance work on aircraft.
But there are other ways AI can be used to attract new customers and generate increased revenue. KLM is exploring how the technology can be used to tailor deals to specific customers.
Jos Kerssens, Vice President of Development Passenger Business at KLM, told TCS Summit delegates: “We’re trying to predict what will be the next destination or ticket for customers so we can make personalized offers.
This sales approach is not yet in operation, but it could eventually work by crunching data from social media platforms.
Kerssens added: “Attracting new millennial customers is hard, digital is key. The process has to be easy, fast and ‘awesome’ – if it’s not they will leave and never come back.”