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Five human truths changing the way we live and work, from Accenture
Global professional services firm Accenture has defined some key areas that businesses should focus on as part of their response to COVID-19. We spoke to New Zealand Managing Director, Ben Morgan, to ask, what are the deep experience implications Accenture identifies, and what is the reasoning behind them?
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As confidence is eroded, trust will be vital
Confidence is taking a hit with Covid and businesses must proactively work to rebuild trust quickly and credibly. Morgan explains that “consumers from all walks of life are avoiding risk, so trust becomes far more important”.
Effective organisations, as well as their product and service offering, will carry a message of justifiable optimism.
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The Virtual Century – ‘virtual for anything’
Virtual working, consuming and socialising will be pervasive. For organisational relationship building, testing and exploring virtual possibilities will pay off.
Morgan elaborates, that for virtual organisations, “experiences are built around people.”
“For all virtual products and services, from a pair of shoes to even a supermarket shop, the connected experience should be across different touchpoints. Those organisations that are doing well have done this.”
“From this experience perspective, organisations are shining a light on the supply chain and looking again, to ask ‘how can we simplify?’”
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Every business is a health business
Concerns about health are amplified during the crisis and this will continue once we’re out of it.
Morgan explains, “health is starting to become a lot more dominant in terms of how we think about our daily lives – the health of ourselves and our families.”
“Organisations need to be thinking about that as they’re designing products and services for their customers, building that dimension into it.”
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Cocooning is taking centre stage
Home and community is becoming the epicentre of life, with us spending more time in our local geographies.
This pattern will continue after the crisis, and indicate new opportunities for organisations to bring value in a way that authentically aligns with the home.
Morgan explains, “People are staying local – we’re spending more money at home and within our neighbourhoods, and those organisations that can start to play with that and offer that authenticity around local community will win.”
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Authority is being reinvented
Authority is being reinvented as an after effect of travel limitations. We’re likely to look more for a top down view of authority, to the official mandates by governments if it’s done right.
Morgan describes a “reinvention of authority”. “With all this noise around Covid-19, we’re seeing a huge dependency on strong government advice and experts, and who we are going to as our sources,” he says.
“We crave the accuracy of information to make decisions for ourselves and our families.”
If not government, who will fill the void for credible news? Morgan explains how, “With so much info across social media, we are gravitating towards the familiar, and the more organisations can be familiar and local the more likely they are to resonate with us”.
Overall, new themes of experience show that technology endeavours are successful when they are valuable to customers, by amplifying or enhancing their lives. “It’s not technology OR human, it’s technology plus humans”, Morgan adds.
Data, AI, BI & ML
Artificial Intelligence and Machine Learning are the terms of computer science. Artificial Intelligence : The word Artificial Intelligence comprises of two words “Artificial” and “Intelligence”. Artificial refers to something which is made by human or non natural thing and Intelligence means ability to understand or think. There is a misconception that Artificial Intelligence is a system, but it is not a system. AI is implemented in the system. There can be so many definition of AI, one definition can be “It is the study of how to train the computers so that computers can do things which at present human can do better.” Therefore it is an intelligence where we want to add all the capabilities to machine that human contain. Machine Learning : Machine Learning is the learning in which machine can learn by its own without being explicitly programmed. It is an application of AI that provide system the ability to automatically learn and improve from experience. Here we can generate a program by integrating input and output of that program. One of the simple definition of the Machine Learning is “Machine Learning is said to learn from experience E w.r.t some class of task T and a performance measure P if learners performance at the task in the class as measured by P improves with experiences.”
