in reviewing the current busienss landscape and considering the seismic impact of the novel coronavirus on the world of work, Louis Tetu explains that the companies that will succeed are the ones that create intelligent experiences that people have come to expect. The way this is achieved is through transformative digital technology.
Tetu is a Canadian business owner and entrepreneur, and CEO of Coveo. His compnay’s Experience Intelligence Platform uses AI, intelligent search and recommendation technologies, to personalize millions of digital customer experiences. Recently Tetu has been considering the extent to which COVID-19 will drastically expedite the need for digital technologies and better intelligent experiences for consumers.
Tetu tells Digital Journal about two key themes:
We’re moving from a digital crunch to a digital rush
With the first of his predictions, Tetu says: “With online being the only channel to connect and sell to customers, we’re going to see an acceleration of investment in digital technology. What could have waited three to five years now needs to happen in a year. The brands that choose to stay with the status quo and wait for the “back to normal” phase to begin are falling behind. Consumers’ preferences and expectations are changing and we won’t be going “back to normal.”
COVID-19 is a massive catalyst
With the second of his predictions, Tetu explains: “COVID-19 has brought about an era of survival of the digital-first and fittest, a form of digital business Darwinism. Being digital won’t be enough; the companies that will succeed are the ones that create intelligent experiences that people have come to expect. The companies that fail will be those that can’t quickly adapt their digital transformation roadmap to this new AI and data-powered experiences imperative.”
He adds further: “Companies are starting to realize that they need to go beyond just “being digital”, to be truly relevant in every digital interaction with their customers. Leaders across every industry are harnessing the power of data and AI to make this happen – and this gap between the leaders and the rest will only grow wider.”
