Today, nearly 9 in 10 Americans use digital apps and services to manage their finances – a 52% growth rate from 2020. Along with this digitalization of financial services, the unbundling of services and a shift from working with one bank to using various apps and services for different financial needs is on the rise.

As part of our new ‘AI for CX 101’ series, we will cover what to expect when you deploy an AI solution, including how to get started on your AI digital transformation journey. Whether you’re early on in the consideration phase or deep into the process, we’re here to provide you with insights and best practices to ensure you are well-equipped to proceed with confidence.

A new space is emerging for customer engagement and interactions beyond online and in-store to be considered. This is the metaverse, a futuristic concept for many, but one that is taking shape, with a great deal of potential to be the next big thing.

Customers today seek speed – speedy access to services, and in a timely fashion. This extends to customer service in the telecommunications (telecom) industry, as many rely heavily on mobile devices and networks in an era of remote work and social connections. With advances in technology, lightning-fast connectivity is already here, or well within reach.

Globally, the cost of living is skyrocketing – in the US, inflation hovers near a 40-year high, topping Americans’ concerns for the country, while Canada’s official inflation rate rose at a 6.8% annual pace this past April, a new 31-year high. Prices for everyday necessities – food, shelter and gas – are on the rise, as the COVID-19 pandemic is driving up the costs of raw materials and impacting global supply chains.

Customer service is notoriously a waiting game. This has been more rampant in recent years, with a stretched labor pool and staff shortages across numerous industries. Canada’s federal government has warned of long wait times for passports, due to the surge in the number of applications since COVID-19 border measures were relaxed (the number of Canadians applying for passports is 40 times higher than it was pre-pandemic).

It’s time to talk travel. This fondly remembered hobby is now on the minds of many, after being pent up due to COVID-19 restrictions. Demand for flights is soaring – Delta Air Lines CEO Ed Bastian reported that March 2022 had been the carrier’s best month for sales in its history, while the four major U.S. airlines (American Airlines, Delta, Southwest and United) are planning summer schedules that are 4% to 20% larger than one year ago.

Does absence really make the heart grow fonder? For many travelers, anticipation and enthusiasm are high, and, for hospitality companies, the pressure to deliver an excellent customer experience is on. In fact, a recent survey found that 68% of Americans agree that they have a greater appreciation for travel because of experiences missed during the pandemic.

Many of us have experience interacting with customer support agents in various contexts, from streaming service subscriptions and car rental bookings, to online clothing purchases. For businesses worldwide, offering timely support across multiple channels and touchpoints is critical in today’s highly competitive and digital-first world.

The field of healthcare is changing dramatically, revisiting age-old concepts of how and where care can be delivered, as evident with the rise of telemedicine, online pharmacies, healthcare startups and other digital tools. Yet it is also an area in which a delicate dance is necessary, one that involves an adequate balance of technology and human interaction, as maintaining a human connection that is authentic as well as empathetic is critical.