CIO News Hubb
Advertisement
  • Home
  • News
  • Operations CIO
  • Visionary CIO
  • IT Management
  • Information Security
  • Contact
No Result
View All Result
  • Home
  • News
  • Operations CIO
  • Visionary CIO
  • IT Management
  • Information Security
  • Contact
No Result
View All Result
CIO News Hubb
No Result
View All Result
Home News

3 Reasons CIOs Should Invest in AI-Search

admin by admin
January 6, 2023
in News


CIOs, CDOs, innovators, and IT leaders have many technology investment options
to consider. How should you prioritize dollars, agile teams, and
transformation programs, given how all businesses need better technology and
data capabilities? 

I have been advising Digital Trailblazers to prioritize
force multiplying platform investments
that drive multiple strategic benefits. For many businesses, the benefits
should include growing revenue, improving customer and employee experiences,
reducing costs, improving productivity, and addressing data governance and
other risks.

I believe that one of these key investments is AI-Search, and in my recent
paper,
It’s Time To Revisit The Importance Of SearchFor Your Enterprise Tech
Strategy,
 I share the rationale and a playbook for innovation leaders.

What is an AI-Search platform?

Here’s how many enterprises implemented search experiences in the past:

  • Using out-of-the-box search capabilities in content management systems,
    CRMs, and other SaaS
  • Dedicating a development team to building search using an unstructured data
    indexing engine
  • Purchasing a search appliance or other search middleware, then spending
    development effort to code integrations and optimize search relevancy

The net is that 62 percent report managing multiple indexes for different
applications, and 99 percent report having one or multiple issues delivering
relevant search results, according to
the state of enterprise search report.

An AI-Search platform
delivers a unifying platform for customer-facing applications, customer
support functions, employee workflows, and analytics on unstructured data
sources. They provide out-of-the-box SaaS integrations, low-code and pro-code
development options, and built-in and configurable machine learning
capabilities.

In other words, they take much of the heavy lifting out of delivering a key
business capability – helping end users find relevant information with fewer
clicks and frustrations – while ensuring consistent and real-time information
is available to a full experience connecting suppliers, customers, and
employees.

How AI-Search is a force multiplier in digital transformation  

In my paper, I share details on identifying KPIs, financial benefits, and
executive partners to create an agile program for delivering search
experiences across multiple business units and products. I group the benefits
into three different investment rationales:

1. Deliver a consistent search experience for customers and employees

Search isn’t just a tool for ecommerce, media websites, and intranet portals.
Consider these five experiences:

  • Banks want to make it easy for small business owners to match financial
    services to their needs while enabling their reps to make smarter, proactive
    recommendations. 
  • Insurance companies need portals for brokers, agents, and partners to access
    consistent information. 
  • Hospitals want people to know what to expect before coming in for a
    procedure and share consistent information with patients, their doctors, and
    other healthcare workers.
  • SaaS companies must supplement their products with self-service
    knowledgebases, chatbots, and customer support workflows that help solve
    problems faster. 
  • Manufacturers need to simplify product discovery, provide efficient customer
    portals, and enable more efficient customer service.

You may have different tools and apps to support customer, supplier, and
employee experiences, but each technology can only provide access to the
information in its silo. AI-Search with easy-to-implement integrations enables
innovators to embed a tailored experience to a consistent and holistic
information source.

 2. Increase revenue and create new growth opportunities

CIO revisit search experiences

Ask this question, can your customer support team easily turn around a
customer inquiry or incident into a sales opportunity?

To achieve this objective, the rep must have easy access to relevant
information, respond accurately and quickly to the issue, and know enough
about the customer to make the best product and service recommendations.
Chances are, your customer service ticketing system doesn’t have all the
information for reps to take on this greater responsibility, and embedding an
AI-Search experience can be a game changer.

AI-Search can also help data science teams identify new growth opportunities
by providing a way to query unstructured content and data sources. Using
natural language processing to extract information from customer support
tickets,  insurance claims, patient records, and other documents can
provide insights for developing new products and services. 

3. Lower costs, improve productivity, and reduce technical debt

IT also benefits when enterprises centralize search and shut down legacy
search engines, and
in the paper, I share several reasons why enterprises have accumulated significant
technical debt in managing search and unstructured data.  

Platform reductions are one source of cost reduction, and productivity
improvements are another efficiency benefit when employees spend less time
hunting down information. Centralizing can also help address data security and
privacy by enabling data governance and compliance leaders one search platform
for implementing data access policies.

Driving culture change with AI-Search

While I share these three strategic benefits of AI-Search platforms, there’s
one other cultural benefit worth calling out.

Implementing search was once a source of conflict between business leaders,
subject matter experts, and technologists on optimizing search relevancy. It
wasn’t easy gaining agreement on taxonomy, knowledge extraction rules, and
search results ranking – all algorithms now aided by machine learning
capabilities.

It means CIOs and IT leaders can quickly release search capabilities and then
establish a
search center of excellence to extend implementations to multiple business units, product areas, and
content sources.

This post is brought to you by Coveo.

The views and opinions expressed herein are those of the author and do not
necessarily represent the views and opinions of Coveo.



Source link

Tags: agileaicdocioctodata governancedata sciencedevopsdigital transformationisaac sacolicklow-codemachine learningproduct managementstarcio
Previous Post

Initiateleadershipinnovation

Next Post

How to query and visualize Macie sensitive data discovery results with Athena and QuickSight

Related Posts

News

Initiatetogoapproach

by admin
February 2, 2023
News

Influentialleadership ~ Future of CIO

by admin
February 1, 2023
News

Initiateoreinvention ~ Future of CIO

by admin
January 31, 2023
News

Illuminatequick

by admin
January 30, 2023
News

How to Reduce Costs and Delight Customers with Intelligent AI Search

by admin
January 30, 2023
Next Post

How to query and visualize Macie sensitive data discovery results with Athena and QuickSight

Recommended

Initiatetogoapproach

February 2, 2023

New Russian-Backed Gamaredon’s Spyware Variants Targeting Ukrainian Authorities

February 2, 2023

AWS achieves ISO 20000-1:2018 certification for 109 services

February 2, 2023

Everything you need to know

February 2, 2023

Influentialleadership ~ Future of CIO

February 1, 2023

Researchers Uncover New Bugs in Popular ImageMagick Image Processing Utility

February 1, 2023

© 2022 CIO News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Operations CIO
  • Visionary CIO
  • IT Management
  • Information Security
  • Contact

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Operations CIO
  • Visionary CIO
  • IT Management
  • Information Security
  • Contact

© 2022 CIO News Hubb All rights reserved.