Customer Loyalty Seen As Key Driver For Adding AI Into Products

Data quality and security are the key challenges companies face in developing and selling products and services with artificial intelligence built in, according to a new Accenture study.

In the course of developing AI- and digital technology-embedded products and solutions, the key challenge is data quality (51%), followed by cyber security (45%) and the choice of making or partnering to develop an AI product (45%).

The study comprised a survey of 500 C-level and director level executives from 500 companies in six countries with revenue of $500 million or more.

Businesses said the key value drivers for their organization to embed AI and other digital technologies into their products are customer loyalty (82%), insights on product and service usage (82%), cost reduction (73%) and increased revenue opportunity (73%).  The majority (55%) also saw AI as providing a competitive advantage.

As a result of including artificial intelligence in its product and services, companies expect to change after-sales services to customers (64%), sources of profitable revenue (64%) and the customer value proposition (55%).

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