BCG Unveils DEEP AI: A BCG X Customer Management Tool

Boston Consulting Group (BCG) announces DEEP AI, a tool to boost customer value and enable hyper-personalised, end-to-end customer management at scale

As AI use continues to expand globally, it is consistently hailed as a technology that holds the power to transform customer experience (CX).

From helping businesses to create proactive engagement, to streamlining complicated processes, AI can be integrated into every customer interaction and delivering real-time. As a result, businesses are continuing to ramp up their technology investments, with 44% of global IT decision makers believing that generative AI (Gen AI) could save employees two days of time per week.

This is exactly what BCG is aiming to emulate with its new tool, DEEP AI.

The company is currently implementing DEEP AI and aims to work with companies to develop a robust data and AI infrastructure. Likewise, it aims to deploy BCG X’s state-of-the-art AI assets and launch AI-powered customer management campaigns.

Combining technology and humans to support end-to-end customer management

AI engines predict customer behaviours, deliver real-time upselling and cross-selling, in addition to pricing recommendations and inform test-learn-optimise campaigns. As DEEP AI is modular, companies can integrate only what they need to complement their existing technology products.

Having conducted plenty of research into enterprise AI, BCG is now working to help clients with strategy and organisation design, aiming to support new ways of working with AI. This will ultimately help ensure that data and analytics inform each customer management decision.

DEEP AI seeks to empower marketing and sales teams to use AI and technology to drive 40% more customer value. There is also a strategy in place to transform roles, including customer-facing teams, campaign management, data scientists, IT teams and CRM teams - all to ensure that data-centricity is focal to every customer interaction.

Key facts
  • 50% increase in customer acquisition
  • 20% increase in upselling and cross-selling
  • 20% reduction in churn
  • 10% increase in price realisation
  • 20% increase in adoption and utilisation
  • 40% reduction in bad debt

By integrating AI into CX management, companies can make automated and personalised recommendations that promote new acquisitions, reduce churn and drive-up customer value. According to BCG, this can take place in primarily digital contexts via call centres and in-person interactions.

BCG has more than 7,000 data science and advanced AI practitioners to assist its customers in AI endeavours. The company seeks to combine functional and industry expertise, technology expertise and responsible AI framework. Its technology build and design unit, BCG X, delivers AI services to clients to enhance business transformation.

“With GenAI at its core, our programs can integrate seamlessly with existing cloud services to help supercharge productivity and enhance financial impact from the ground up,” Sylvain Duranton, Global Leader of BCG X said via a LinkedIn post. “The team has already seen proven success across telco, finance, and insurance, with clients seeing a 70% reduction in total cost-to-serve and 20% increase in serve-to-sell.”

************

Make sure you check out the latest edition of AI Magazine and also sign up to our global conference series - Tech & AI LIVE 2024

************

AI Magazine is a BizClik brand

Share

Featured Articles

AI Agenda at Paris 2024: Revolutionising the Olympic Games

We attended the IOC Olympic AI Agenda Launch for Olympic Games Paris 2024 to learn about its AI strategy and enterprise partnerships to transform sports

Who is Gurdeep Singh Pall? Qualtrics’ AI Strategy President

Qualtrics has appointed Microsoft veteran Gurdeep Singh Pall as its new President of AI Strategy to transform the company’s AI offerings for customers

Should Tech Leaders be Concerned About the Power of AI?

With insights from Blackstone CEO Steve Schwarzman, we consider if tech leaders are right to be anxious about AI innovation and if regulation is necessary

Andrew Ng Joins Amazon Board to Support Enterprise AI

Machine Learning

GPT-4 Turbo: OpenAI Enhances ChatGPT AI Model for Developers

Machine Learning

Meta Launches AI Tools to Protect Against Online Image Abuse

AI Applications