CIO Insights: Riding the wave of digital disruption with real-time cognitive insight
Digital transformation applies to changing business activities, processes and models to fully leverage the opportunities of new digital technologies. According to a report in 2016 by the World Economic Forum, companies implementing digital technologies across their business can outperform peers and be more successful enhancing revenue sources and competing against digital natives.
In the telecommunications market, with its razor-thin margins and ultracompetitive landscape, especially in the consumer area, the difference between success and failure comes down to good, old-fashioned customer service—plain and simple, right? Not really.
The importance of communications
The rise of social networking and mobile applications is only the first step in this digital transformation. As people and companies begin to embrace Internet of Things technologies, self-driving cars and other innovative technologies, the importance of communication networks is expected to grow exponentially. With communication networks constantly trying to outdo each other, customer service is where the winners will be separated from the contenders. Therefore, the ability for businesses to adapt and evolve is essential to enable new types of innovation and creativity. And doing so helps those companies meet new demands.
With a customer base of more than 113 million, Verizon is in a well-suited position to take the pulse of the communications market, understand its trends and identify the challenges and opportunities it presents. As it embarks on its digital transformation journey, Verizon has been working with IBM to identify, prioritize and implement a first set of use cases for cognitive technology, with one of its most important goals being to provide a best-in-class customer experience for the consumer.
The power of cognitive computing
Working with IBM and other strategic partners, Verizon has built a cognitive customer experience platform, a real-time big data analytics environment that harnesses the IBM Watson Data Platform. In particular, the cognitive customer experience platform offers real-time ingestion of streaming data to leverage that data from a wide range of source systems and feeds.
The platform is designed to serve as a general-purpose environment that can support many different customer service–related use cases. It also enables Verizon to help improve digital engagement with its customers, meeting the demands of consumers in the digital economy through cognitive capabilities.
Learn more by watching a video presentation from IBM Insight at World of Watson 2016, where Damodaram “Damu” Bashyam, vice president, IT, at Verizon, explains how the organization is partnering with IBM to enable artificial intelligence (AI) and machine learning for predicting customer intent. In addition, Bashyam shares more of Verizon’s cognitive journey in a discussion with IBM developerWorks TV host, Scott Laningham.