Are you ready to add an AI-powered digital executive to your C-Suite? What problems would it help solve? And how would you even know if you needed one?
The latest episode of AI Knowhow centers around Knownwell Client Intelligence, an AI-powered product we’re building to help professional services companies derive greater insights from the natural communication flows and structured data in their businesses.
The aim of Knownwell Client Intelligence is to help executives get smarter about utilizing existing data and information to drive client retention. Research has shown that companies can increase profitability by up to 91% if they improve retention by as little as 5%.
David DeWolf, Mohan Rao, and Courtney Baker discuss the pain points we’ve heard from executives that have led us to begin building Knownwell Client Intelligence and the larger Knownwell Intelligent Enterprise Operating Platform. These pain points include:
- Executives are drowning in data. Leaders have so much data at their disposal that they can’t make sense of it. 86% of leaders say that more data has led to less confidence in their decision-making.
- The most important data may not even be accounted for in decision-making. Many organizations’ richest data sources, the natural communications and routine information flows that comprise around 80% of their data, is unstructured and never makes it into the “modern data stack.”
- Client retention remains a costly riddle for many leaders and organizations. Client retention levels have actually decreased in the last five years, even as the spend on global CX software has nearly doubled to $1 trillion dollars.
Listen to the Episode
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Watch the Episode
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Episode Highlights
- Courtney and Pete cover some of the latest AI news, including a story from the Financial Times that Deloitte is rolling out a home-grown AI tool called PairD to 75,000 employees to help them increase productivity
- Pete and Courtney also discuss the lawsuit that the New York Times has brought against OpenAI and the ramifications it has for business leaders, namely that they should be cognizant of where the data is coming from that they’re feeding in to their large language models
- David touches on the three big issues that led to us developing Knownwell Client Intelligence: information overload, lack of actionable insights from existing data, and inability to mine insights from external data that’s not part of a company’s modern data stack
- David and Mohan dive into the concept of a Digital Executive Officer and why Knownwell Client Intelligence is uniquely different from existing solutions
- We look beyond client intelligence to discuss some future areas that may also be places where an AI-powered tool could help executives in a similar fashion, including employee intelligence, market intelligence, and operating intelligence
Resources
- Learn more about Knownwell Client Intelligence
- Connect with David DeWolf on LinkedIn
- Connect with Mohan Rao on LinkedIn
- Connect with Courtney Baker on LinkedIn
- Connect with Pete Buer on LinkedIn
- Follow Knownwell on LinkedIn
