iIt only seemed like yesterday when the key to success depended solely on how good a product or service was. Today, this still stands, but another essential factor takes all the limelight—experience. Research conducted by PWC asserts that over 86% of the general populace is willing to spend more if that means they get to enjoy a better customer experience. That’s saying something!
Technology has come a long way, and today we live in a world where service is seamless, products meet perfection, and every innovation is a mind-blowing one. From chatbots that are present at our beck and call to mails that practically write themselves, we’ve turned into an increasingly customer-centric world that very closely resembles a futuristic sci-fi movie. And we’re just getting started.
Five Historical Waves of Transformation
Before the 1700s, life looked like this—travel was a far-fetched dream; food and clothing were locally produced within each community, education was poor, and opportunities were bleak. Healthcare was scarce, so the start of sickness was pretty much the end of the world. Fast forward to around 1760, and humanity was hit with a rather massive wave of transformation, the first of its kind. Little did we know there were more to come, and each wave was a force with which to be reckoned!
The First Wave: Industrial Revolution
The first wave is where we witnessed a creation that was nothing short of a miracle—machines. A giant leap was taken from painstakingly hand-making goods to machine-making iron goods, textiles, paper, and whatnot. Powered by steam and water, utilitarian tools were created, and entire factory systems came to fruition. What previously took months to make could be completed in a matter of hours and in large numbers to boot. The industrial revolution changed the way we carried on with daily life: economic growth saw a boost, standards of living were considerably improved, even healthcare saw hope.
The Second Wave: Age of Railways
If we thought the first wave was all we had in store, we were wrong. The first wave paved the way to the second, where we saw people moving miles in comfort without losing days or months in the bargain—railways. Iron slowly took the back burner while steel took over, being the stronger, better metal. Railways stretched across nations, allowing for better trade and commerce, which again helped improve living conditions and economic growth.
The Third Wave: Age of Electricity
Soon enough, people were fascinated and in awe of the latest newcomer on the scene—electricity. Several other wonders such as telephones, heavy engineering, and urban transit systems like tramways and subways. The internal combustion engine, which was on the verge of shaping the automotive industry, was also born in this era. What undoubtedly took the spotlight was mass production using electric power and the beginning of electronics.
The Fourth Wave: Age of Oil, Automobiles, and Mass Production
The third wave left behind a plethora of genius innovations to build on. We had arrived at the point in the industrial revolution where information could be gathered with a press of a button; sometimes, there was no button—just a flat screen! Yes, this is where good old telephones paved the way for smartphones, big computer sets transformed to tablets and laptops, and new industries were established to dabble across the expanse of information technology and the art of making life digital. The boundaries between the tangible physical world and the digital world were slowly blurring.
The Fifth Wave: Age of Information
We are smack dab in the middle of the information age, where the fourth wave has all but receded, making space for the next big wave of transformation. What does this mean for us? It means that this new age is committed to making our lives a whole lot easier and efficient. A good example would be our smartphones. From the confines of your home, you can watch in real-time as athletes win Olympic medals after medals all the way in Tokyo. You can keep a tab on your fitness levels thanks to apps on your phone that can track your every move. Food is now delivered to your doorstep in less than thirty minutes, all because of an app.
With the help of advanced innovations in technology, we have shifted to a digital world of information where experience is at the core.
Best Yet? The Age of Information
Every time we thought we couldn’t get better than this, we are taken by surprise—this is how technology and innovation function.
The 1700s to 2000s: Growth of the Computer Industry
Computers changed the way we operated. From being tools that could only help with calculations, computers today have become tools that bring your bread and butter. Let’s go back in history for a moment to understand how the computer industry has grown: IBM played the role of a game-changer by creating the Mark I computer, which essentially worked with electromagnetic signals. It was the first of its kind, an operating machine that could perform long computations automatically. When this happened, a new buzzword in the computer industry was formed: generations.
- First Generation (the 1940s-1950s): The evolving hardware was vacuum-based, contributing to its considerable size, and used for performing calculations.
- Second Generation (the 1950s-1960s): The evolving hardware was transistor-based, computers were smaller and much more efficient. These computers could perform instructions, for example, like printing an invoice. It didn’t need a complex programming language, as these computers were programmed to understand simple words, sentences, and formulas.
- Third Generation (the 1960s-1970s): The evolving hardware was integrated circuit-based, the size of computers became even smaller, but the efficiency, speed, and accuracy grew in strides. Operating systems and new programming languages were up and coming.
- Fourth Generation (the 1970s-present): New trends in the computer industry were witnessed. The only thing reducing was the size of the computer, but everything else seemed to ascend. Fourth-generation computers could network with two or more computers, essentially improving communication for us. Some examples of the early fourth-generation computers are the Apple Macintosh, IBM PC, Star 1000, and Apple II.
- Fifth Generation (the present and the future): The world is currently in the midst of the fifth generation of computers, where artificial intelligence, applications such as voice generation, natural language processing, and speech recognition have all become a reality, with the help of parallel processing and superconductors.
Now let’s review the technology highlights that have disrupted life all around the world.
Unlimited Storage
According to the IDC, the size of the digital universe is practically doubling every two years. How is this even possible? It’s possible because of unlimited storage. Every single piece of data that is churned out is safely stored virtually. We can now pull out records from years before, and what’s more, they’ll stay there forever. And we can keep adding more any time we want.
Voice Over Internet Protocol (VoIP)
Today, a good internet connection is all you need to make calls (including video calls) across the globe. And the best part? It doesn’t cost half as much as it did back when you had to make an overseas call. Gone are the days of the analog telephone line. You want to call an aunt in Sydney when you’re in Paris—you do it within seconds via the internet. Applications such as Messenger and Skype have changed communication in the workspace thanks to VoIP. Even the healthcare industry uses VoIP for online consultations where patients and doctors can communicate from different geographical locations.
Mobility
When we say mobility in the digital age, we mean accessing data and compute capabilities through small portable devices like smartphones, tablets, laptops, etc. Mobility in the digital age offers the greatest convenience to businesses and individuals alike. Through technologies like GPS, one can view a map of their surroundings, get directions to their destination, and be notified of real-time traffic updates with just a few taps on their smartphones or car navigation systems. Thanks to integrated online platforms, entrepreneurs can conduct business and complete transactions while they are on the go. No more waiting to head home or your office to access the internet through your desktop computers when everything is available at your fingertips, no matter where you are.
The Rise of Networks
Post the dot com crash in the late-90s to early-2000, “cloud” took over. Although the value of the web had been growing in the mid-90s, it rose to greater heights when cloud computing came in because accessibility took a turn for the better. We’re all using the cloud in so many aspects of our lives. Watching Netflix on your laptop or smartphone? You’re using the cloud. All the data stored in your Dropbox or Drive? Cloud again! We’ve taken networking to a whole other level, and there’s no going back from here.
The Shift In Landscape
We’re now on the threshold of a more connected, digital world. Whether we like it or not, we are all a part of a global village linked by newer technologies, newer experiences, and newer ways of communicating. For example, let’s look at the 5G network. With 5G network impacting the Internet of Things and technology primarily based on customer experience, a more connected and mobile world is shaping up.
It’s safe to say that 4G doesn’t stand a chance when 5G boasts of twenty times more speed, and we all know that in this face-paced world, speed is everything.
Thanks to Artificial Intelligence, the shift in the landscape to a more digital environment will part ways for innovations such as Augmented Reality, Machine Learning, and Hyper-Personalized Advertising, to name a few.
Global Digital Infrastructure
Previously, the digital infrastructure was a peripheral structure, but today, it is at the crux of every business: food, healthcare, retail, or real estate. The mantra is simple—life is easier today, and it’s all because it’s digital. Digital is at the core of life, while we revolve around everything it has to offer. Today, we have easy access to 24/7 service offerings across a host of products and services, which would have been nothing short of fiction a few years back.
Global Societies and Economy
Global societies have formed within the global digital infrastructure, and we all have actively contributed to its formation. For instance, the latest medium of communication is social media. You can be a part of the lives of anyone who cares to share as little or as much—about themselves, their opinions, their innovations, and their contributions—with a world that is brimming with vast amounts of information.
Global societies are changing the economy at large. How so? Three crucial factors come into play here.
First and foremost, technology works as a catalyst when it comes to products and services. We all look for a seamless, technology-powered experience when we buy a particular product or service. We don’t think twice when the said product or service comes at a hefty price as long as it provides a good experience.
The second important factor is collaboration. The service provider isn’t the only one involved in innovation—customers and influencers are pitching in, too, with their preferences and recommendations. The supply chain is listening to the demands of its consumers, and they want to know what they need.
Third, and perhaps the most critical factor, is user experience. The digital age is “me”-centric, and nothing is more important than what the customer experiences when they use a particular product or service. All of this makes up what is known as the digital economy. Technology, customer behavior and needs, and customer experience have opened pathways to new digital opportunities that are changing how we previously saw the economy.
Crowdsourced Intelligence
The rapidly evolving digital landscape now houses what is known as Crowdsourced Intelligence, where a network or “crowd” of individuals engage in gathering and providing data, allowing for the accumulation of intelligence concerning the local context. We could say that it is the evolution of intelligence itself. With so much information and insights gathered, we can expect to have a better look at… well, everything.
The Intersection of Life and Technology
The thing about the digital world is that there’s space for everyone. It doesn’t matter if you are technologically challenged or differently abled. There’s an emotional side to the digital arena that we all seem to love especially. Distance doesn’t matter when you can call your loved ones across continents. Time zones won’t make a difference when you can turn off the smart lights in another country when you’re not even there. The present blends into the future when you can see the face of your as yet unborn child. Technology and life have merged, and we’re in the grey area where technology has become life.
Moving from Product and Service to Customer Experience
There’s a fine line between success and failure, and guess what the differentiating factor is? Customer experience. You might have a fantastic product. But if the customer experience is in the dumps, you’ll be the poster boy for failure in no time. Flashback to the first few revolutions, namely industrial or even mass production, the company pulled the strings. But today, the power lies in the hands of the customer—and their word is final.
Technology has become much more human to keep up with consumer expectations and provide the best consumer experience. To cite an example, let’s take a look at a simple yet significant change in voice commands. Previously, voice commands had a robotic voice, and the input they received was limited to a few commands. Anything apart from the commands they were programmed to respond to wouldn’t work. You may have heard a straight-from-a-science-fiction voice say something like “error, try again.” But look at voice commands today—they are capable of having full-fledged conversations with you, to the extent of saying, “I’m sorry, could you repeat that, please?”. Today’s technological innovations are so human that they even sound like us! It’s a captivating thing to witness.
Omnichannel Technology
Omnichannel solutions, where a brand’s presence resonates across every possible medium (Facebook, WhatsApp, Instagram, Twitter, email, phone, you name it!), are the need of the hour. Businesses are transitioning to this digitally-centered program which provides greater visibility, flexibility, and efficiency.
Brands can hear what their customers are saying. And based on indicators likes, shares, mentions, and comments, brands shape their products and services to better ones.
When a customer hops onto a platform of their choice to bring to light an issue they have faced, brands listen and take measures to resolve these problems.
Thanks to omnichannel technologies, brands can now proactively reach out to customers to alleviate any potential issues before they even occur, thereby making it convenient for customers and enhancing their overall experience.
Artificial Intelligence and Machine Learning
These technological wonders are already in heavy use. Noticed the predictive text every time you draft an email? That’s an example of machine learning. Another example is the ability to unlock your smartphone just by looking at it; in other words, image recognition.
Speech recognition, virtual personal assistants, video surveillance, predictive analysis, and more: today, our lives revolve around these technologies. When you mindlessly scroll through Instagram or Facebook, a lot is going on in the background. Social media giants use advanced machine learning and artificial intelligence to dramatically enhance and personalize the way you experience their platforms.
Thanks to advanced technology, although it’s a big virtual world out there, one feels like everything on there was made just for them.
Chatbots for Convenience and Conversation
Speaking of the virtual world, the inhabitants aren’t just humans; you’re sharing it with something that mimics humans but definitely isn’t—chatbots.
A huge part of the future, chatbots are all the rage, and they’re here to stay. A Facebook survey found that more than 50% of customers globally are more inclined to shop with a brand that has a chatbot. Over 59% of millennials and 60% of Gen X-ers are familiar with and have interacted with chatbots. It is evident that chatbots are gaining momentum and at a rapid speed.
Swiggy, a popular online food ordering & delivery platform, is an excellent example of how chatbots converse with their customers, contributing to improved convenience. Swiggy’s chatbot feature is simple and easy to use. When the customer faces any issue, all they have to do is tap on the contextual response options conveniently available on the screen, and their problem is resolved!
The brand understands that the customer, when complaining, is already frustrated. The last thing a frustrated customer needs is a long wait time and an even lengthier process to resolve the problem. Chatbots have made this process easy by providing options that the customer can choose from, instantly closing the issue, while live agents focus on resolving more complicated matters.
Remote Capabilities
The perimeters between the physical and virtual worlds have blurred, so much so that geographical distance is no longer a constraint.
With remote access, all you need is a network connection that can allow authorized individuals to connect and access computers or networks from any corner of the world.
In today’s pandemic-ridden world where work from home is the norm, remote access isn’t a luxury but a necessity.
So, what’s the verdict?
The one thing that stands throughout this article is customer experience. While these wondrous innovations and technological advancements have generated a buzz and will continue to do so for years to come, they are all designed to answer the customer’s demand for an enhanced experience. Working towards perfection, technology itself is adapting to a new identity, one that closely resembles humans, to serve humans! Technology has come a long way to make improvements to our lives in terms of ease and convenience. The future looks promising, and it feels like we’re already in it.
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