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Time to Talk: The Future is Conversational

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NRF Breakfast Briefing on Conversational Commerce

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Time to Talk: The Future is Conversational

  1. 1. Time to talk The future for brands is conversational Breakfast Briefing on Conversational Commerce Capgemini, Intel and MIT New York | Tuesday | January 16, 2018
  2. 2. 2The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Agenda Introduction: It’s Time to Talk Kees Jacobs, Capgemini A Growing Tempest in a Larger Storm Jon Stine, Intel A New World of Customer Experience Mark Taylor, Capgemini The Technology and Intelligence Behind the Talk Chris Hunt, Intel The Business Operations Behind the Scenes Shannon Warner, Capgemini The Case for Standards: Open Conversational Commerce Prof. Brian Subirana, MIT Opportunities Abound: What to Do Next? Dick Cantwell, Jon Stine & Kees Jacobs
  3. 3. 3The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. It’s time to talk Kees Jacobs Capgemini
  4. 4. 4The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Personalized Service Social Observation Trust & Empathy Voice Dialogue
  5. 5. 5The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce Is The Next Wave Of Disruption
  6. 6. 6The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Remember the Roman Empire?
  7. 7. 7The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. A growing tempest in a larger storm Jon Stine Intel
  8. 8. 8The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. A Growing Tempest in a Larger Storm ≈95% Voice Word Accuracy Rates for Microsoft, Google, IBM As of 2017. English Language, Laboratory tests 20%Searches on Android app through speech as of May 2016. Source: KPCB. Image sources: cnet.com, The Verge, The Economist, Wall Street Journal,
  9. 9. 9The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce = Platforms x Mass Shopper Adoption Here it Comes Source: Location World.com 325% increase in use of Amazon’s Alexa 2016-2017 40% adults use voice search once a day, USA 20171 $13 Billion smart speaker industry by 2024 94.2 Million homes with smart speakers by 2020 The five-year growth rate forecast, smart speakers: 653%. Comparative mobile phone adoption: 286%. 1 This figure is expected to reach 50% by 2020 Source: MIT Auto id Lab Predictions $20-35 Billion Addressable retail revenue via CC, forecast 2020
  10. 10. 10The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce at First Glance: Accelerants to Retail’s Darwinian Evolution? Acceleration Of Digital Commerce Decline In Profit Margin Disintermediation From customer Strengthening Of Amazon
  11. 11. 11The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. A new world of Customer Experience Mark Taylor Capgemini
  12. 12. 12The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. “Death, for brands, has a name… Alexa” Scott Galloway. Clinical Professor of Marketing. New York University Stern School of Business Which means either: The end of the brand as we know it The best opportunity for brand differentiation since TV
  13. 13. 13The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Our Core Beliefs 1. CONVERSATIONAL INTERFACES WILL RESHAPE DIGITAL EXPERIENCES WHILE ALLOWING US TO SCALE HUMAN CONNECTIONS AND ENGAGEMENT 2. CONVERSATIONAL COMMERCE IS THE SINGLE BIGGEST OPPORTUNITY FOR BRANDS TO ACT LIKE PEOPLE IN THE DIGITAL CHANNELS. 3. BRANDS ACTING LIKE PEOPLE IS THE SINGLE BEST WAY TO BUILD CUSTOMER ENGAGEMENT AND LOYALTY.
  14. 14. 14The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. The Technology Is The Enabler Not The Benefit 1. CONVERSATIONAL INTERFACES WILL RESHAPE DIGITAL EXPERIENCES WHILE ALLOWING US TO SCALE HUMAN CONNECTIONS AND ENGAGEMENT By easily connecting the real and digital world around us, the QR code was expected to be a major success. Less than 2% of consumers regularly use them… 13 million Beacons are deployed in retail environments globally. 67% of consumers are ready to accept in-store promotions, and yet, customer value has still to be delivered ▪ While the growth and adoption of voice assistants is impressive, other technologies have also held much promise for the improvement of the customer experience ▪ What will matter is not the capabilities but how the capabilities drive value for customers and therefore for brands
  15. 15. 15The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Brands Have Got Their Voices Back 2. CONVERSATIONAL COMMERCE IS THE SINGLE BIGGEST OPPORTUNITY FOR BRANDS TO ACT LIKE PEOPLE IN THE DIGITAL CHANNELS. "VOICE, AS A THING RATHER THAN AN ABSTRACT CONCEPT, OPENS UP A WHOLE NEW PALETTE FOR BRANDING, WHICH TRADITIONALLY HAS BEEN VERY VISUAL,“ Mindshare 2017 ▪ Voice assistants will soon sound significantly more like human beings ▪ Voice assistants are also learning to better use pitch, volume, rate and tone - all elements of speech used to effectively convey emotion and emotion favors connection ▪ In the past, 'brand voice' has been metaphorical, now what the brand sounds like will be a key attribute ▪ What should your brand sound like?
  16. 16. 16The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Accelerating The Path To Affiliation 3. BRANDS ACTING LIKE PEOPLE IS THE SINGLE BEST WAY TO BUILD CUSTOMER ENGAGEMENT AND LOYALTY. An emotional connection matters more than customer satisfaction HBR August 2016 Conversational commerce will drive deeper, more human connections at scale and will drive a different level of relationship, of engagement and of brand affiliation. CX ACTUALI ZATION IDENTI TY ASPIRATIONAL BELONGING REWARDS ME STRESS RELIEF COMFORTING ANTICI PATES KNOWS ME ENG AGING TIME S AVER AVAILABILI TY SIMPLIFIER NO BARRIERS CONVENIENCE INFORMATIVE QUALI TY LOW EF FORT AFFILIATION ANTICIPATES MY NEEDS MEETS MY NEEDS CX HIERARCHY OF NEEDS
  17. 17. 17The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Final Thoughts & Observations Success in this space will require alignment in three areas across brands. The enabling technologies, the organization and the customer experience strategy itself. It is critical to remember that the question is bigger than the technology. When digital interactions that consumers have with brands look more like how people interact with associates in stores, more conversational, more participative, brands will request more information from their customers and customers will expect and require more value in return. Consumers, given the right degree of contextual relevance, will respond better to conversational interfaces than other digital interfaces like websites and apps. A more human, natural interface will engender/permit ever-growing levels of relationship, deepening toward affiliation.
  18. 18. 18The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. What are the technology implications of Conversational Commerce? Chris Hunt Intel $ @
  19. 19. 19The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. The Fastest Rate & Lowest Cost Of Innovation Business Components / Services Business Applications / Systems Data Infrastructure End to End Experience Management Intelligent Interfaces Conver- sational AR/VR e- commerce Robotics … Store Home Auto Mobile Web Service Support Social Guest Experience Every conversation is unique Every conversation is “visible” Every conversation is a lesson Every lesson can be embedded and reapplied - consistently Every interface can embed conversation Learning
  20. 20. 20The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. But Conversational Commerce Exposes The Wizard Shopper Intelligence Commerce Intelligence Supply Chain Intelligence Experience Intelligence Bricks and Mortar Conversationalists Digital Guest Experience Operational Intelligence Conversational Commerce INVITES a personal relationship with brand It’s a race – where everyone must leverage their strengths It demands modernized IT architecture Winning depends on our ability to respond intelligently from deep within the business Unified Multi Interface Management Context Aware Experience Management Deep Understanding of the Shopper From Demand Planning to Digital Marketing Lowering Costs at Optimal Performance Optimizing Supply Chain and Logistics Responsive Customer Engagement
  21. 21. 21The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Truly Responsive Customer Engagement Modernized IT Infrastructure Accelerated innovation through architecture designed for agility New Conversational Interfaces Refactor all channels for Conversational Commerce Responsive Systems of Engagement Learning Intelligence Infused Throughout + +
  22. 22. 22The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Shannon Warner Capgemini The Business Operations behind the scenes
  23. 23. 23The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce should NOT be just an IT test. As a game changer for Customer Engagement, its impact spans your entire organization.
  24. 24. 24The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Data and Insights Unified Commerce Streaming Supply Chain Marketing Leaders will bring together cross-functional teams who will innovate to create customers’ future expectations
  25. 25. 25The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce has a two-fold impact on Data Data as a Voice Experience Enabler Voice data as a Driver of Insights Governance Search Voice-Based Taxonomy Semantic Tags Product & Non-Product Content … Single View of Shopper Customer Behaviors in Home/Car/etc. Predictive Recommendations Narrow Search …
  26. 26. 26The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce is an enabler of and catalyst for Unified Commerce Dedicated Smart Speakers Mobile Apps Shopping Cart Innovation Enable… Wayfinding Service on Demand Shopping List Access Ads Product Content… Voice Inside the Store Voice as an Omnichannel Demand Driver Subscription Services Batched Orders Shoppers expect shorter lead times New Service Channel …
  27. 27. 27The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Shopping will begin to mirror the customers’ stream of consciousness…creating demand for a streaming supply chain Number of Orders Average Order Value Cost to Serve Contribution Margin Although, conversational commerce should result in an overall increase in total spend / engaged customer. It’s essential that retailers proactively solve for the potential negative impacts of conversational commerce on its supply chain.
  28. 28. 28The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce demands a whole new discipline in Marketing…and, creates another dimension in omnichannel customer engagement How to be discovered via Voice channels? What’s the future of voice-based search marketing? Harnessing the literal voice(s) of your brand Differentiating the Retail vs. CPG Brand Content Marketing (Recipes, Dietary Advice, etc.) Loyalty Initiatives Events Shopping Lists Voice of your Brand Driving Conversational Traffic
  29. 29. 29The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. The case for standards in Open Conversational Commerce Prof. Brian Subirana MIT
  30. 30. 30The information contained in this document is proprietary © 2018 Capgemini. All rights reserved.
  31. 31. 31The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Tomorrow, will it be channel agnostic, device agnostic, and / or brand neutral ?
  32. 32. 32The information contained in this document is proprietary © 2018 Capgemini. All rights reserved.
  33. 33. 33The information contained in this document is proprietary © 2018 Capgemini. All rights reserved.
  34. 34. 34The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Who Owns Your Brand / Name?
  35. 35. 35The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. State-of-the-art Attacks on your Brand
  36. 36. 36The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Parsing Wake Activate Intent and Slot Ignore Term Shop List Slot June 2017 July 2017Wake ”Alexa, Smart Shelf add Pizza”
  37. 37. 37The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. “BIG BROTHER IS WATCHING YOU.” Nineteen Eighty-Four George Orwell. 1949
  38. 38. 38The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. “I only want to understand why so many people, so many villages, so many towns and so many nations support a tyrant which has only the power they themselves give to him.” Discourse on Voluntary Servitude Étienne de la Boétie, 1548
  39. 39. 39The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. The “Canon” for Conversational Commerce… A Universe of Choices Neutral Navigation PII Removed Physical Characteristics of the Voice Privacy “Incognito” Mode for Voice How to Delete “Browsing” Histories Data Transferability Transparency Voice Synthetization with Permission Command Standardization Psychiatric Diagnosis Learned Models Awareness Bi-Directional Neutrality Cookie and Session Transfer Neutrality Consumer Protection
  40. 40. 40The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Suggested Next Steps to Pave the Way 1. Initial Standard (two papers 1Q18) 2. Reference Architecture (one paper 2Q18) 3. Vision for Retail 2020 and initial field research 4. Set-up a Standards Organization
  41. 41. 41The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Dick Cantwell, MIT Jon Stine, Intel Kees Jacobs, Capgemini Opportunities abound – what to do next ?
  42. 42. 42The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. The Open Conversational Commerce Initiative What Where When Who The implications for Consumers Retailers/Brands Society at Large Public Deliverable: Research Paper and Presentation: NRF 2018 How OCC Commercial Track From Interaction to Conversation: Creating and Delivering Business Value HOW OCC Academic Track ▪ Standards ▪ Reference Architecture ▪ Future Retail Vision TODAY 2 0 1 7 2 0 1 8 Pilot Projects Workshops POC’S Standards & Government & NGO Advisory
  43. 43. 43The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce Business Capabilities Intelligence Business Operations Customer Experience
  44. 44. 44The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Conversational Commerce Growth Journey
  45. 45. 45The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Building enhanced Conversational Commerce Capabilities over time Customer Experience Delighting consumers via relevant 2-way conversational dialogues Intelligence Turning data into intelligence to feed customer experience and business operations Business Operations Organise for the business capabilities required to deliver upon the promise 2018 2019 2020 …
  46. 46. 46The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. Start Small, Demonstrate Success, Scale fast. 3 days ongoing 3 months 6 weeks Discover Devise Deploy Sustain Understand the vision, set the direction and agree the list of use cases, including one for immediate progression Develop first prototypes for selected use-case, experiment with new technologies and test the value for consumers Series of iterative design sprints to validate and improve the conversational solution with actual users, sharpen the focus, and de-risk any future investment by assessing the commercial case for at scale deployment Iteratively maturing the entrepreneurial conversational commerce capability by monitoring the outcomes of conversational services deployed at scale and add, adapt and adjust to consumer findings as needed to achieve the overall consumer and commercial value proposition. Customer Experience Delighting consumers via relevant 2-way conversational dialogues Intelligence Turning data into intelligence to feed customer experience and business operations Business Operations Organise for the business capabilities required to deliver upon the promise 3 streams that grow consistently accross the whole conversational commerce journey: Discover(3days) 3-day exercise to understand and prioritise ▪ CP/Retail perspectives and examples ▪ Start-up eco-system ▪ Partner ecosystem Discover workshops Devise(6weeks) 6 week POC exercise, e.g. in Capgemini AIE labs ▪ Experimentation ▪ Proof of value (POV) ▪ Go no-go ▪ Pilot Devise workshops Deploy(3months) 12 weeks Production and test & learn ▪ Platform & devops ▪ Review & monitoring ▪ Governance Build-deploy project Scale(Ongoing…) Building out the Conversational Commerce capability ▪ Consumer Experience ▪ Intelligence ▪ Business Operations Grow and Sustain
  47. 47. 47The information contained in this document is proprietary © 2018 Capgemini. All rights reserved. At your Service ! Conversational Commerce Support
  48. 48. A global leader in consulting, technology services and digital transformation, Capgemini is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. It is a multicultural company of 200,000 team members in over 40 countries. The Group reported 2016 global revenues of EUR 12.5 billion. About Capgemini Learn more about us at www.capgemini.com Intel makes the most amazing experiences of the future possible. Intel’s innovations expand the reach and power of computing in personal devices and enterprise servers, the Cloud, make the Internet of Things smart and connected, and help ensure the security of our digital lives. The work of the company’s more than 100,000 employees transforms businesses, propels new discoveries, and improves human experiences. About Intel More information about Intel: www-ssl.intel.com/content/www/us/en/retail/solutions/overview.html The mission of the Massachusetts Institute of Technology is to advance knowledge and educate students in science, technology, and other areas of scholarship that will best serve the world in the 21st century. We are also driven to bring knowledge to bear on the world’s great challenges. The Auto-ID Lab at MIT traces its roots back to 1999 and the founding of the Auto- ID Center, which laid much of the groundwork for the standardization of RFID technology and the introduction of the EPC. Now a member of the global Auto-ID Labs network, the Lab continues research on the evolution and application of RFID systems, as well as other disruptive Internet of Things technologies. About MIT and the Auto-ID Lab at MIT More information about Intel: www.mit.edu The information contained in this document is proprietary. ©2018 Capgemini, Intel Corporation, Massachusetts Institute of Technology

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