Month: July 2022

Migrate your customers to digital payments using AI/ML

Customers around the world interact with the service providers for various use cases like payments, trouble tickets, service requests, and billing enquiries. However, a larger percentage of these interactions are still happening through traditional channels and service providers find it hard to shift their customers to digital channels. According to McKinsey, “Only 16% of enterprises see their digital transformation succeeding, and a major reason for that failure can be attributed to the poor digital adoption rate.” A few major challenges faced by the service providers in improving their customers’ digital adoption are listed below:

• Lack of mechanisms to target the right set of customers
• Difficulty in migrating and adapting to the digital channels due to complex and outdated processes
• No end-to-end visibility of digital adoption

To overcome these challenges, and improve the digital adoption rate and customer experience, Prodapt recommends service providers in the connectedness industry to leverage an AI/ML-based approach. McKinsey’s consumer survey responses indicate that interest in digital payments continues to grow and this insight details on leveraging an AI/ML-based approach to shift the customers to digital payments.

Fig:Leverage AI/ML-based approach to improve digital adoption rate in payments