Of all the ways in which technology has revolutionised business, the one that’s talked about the most is perhaps its ability to bring enterprises and consumers closer to each other. And while that has played a massive role in driving India’s economic growth, this facet of digitisation has also brought with it a number of challenges relating to customer retention and support.
The third edition of ICICI Bank and CNBC-TV18’s ‘India Business Summit – Leaders Speak’ brought thought leaders from across the country together to deliberate upon how modern innovations can help provide the best possible customer experience.
Flagging off the event, which was held in India’s cultural capital of Kolkata, was an insightful address by Vijay Chandok, Executive Director, ICICI Bank. Discussing the extent of digitisation’s impact, he cited the simple example of banking, which was once thought of as a face-to-face, brick-and-mortar operation. However, digital disruption has changed this completely, as witnessed by the fact that less than 5% of the transactions at ICICI Bank now take place at a physical branch.
And while the financial services sector has been a forerunner in tech adoption, almost every industry is now leveraging innovations in IT to maximise profits. This is especially true in customer relationship management, the scope of which has widened far beyond what one could have imagined merely a decade ago. CNBC-TV18’s Latha Venkatesh sat down with five distinguished business leaders to dissect the way technology has revolutionised how each of their ventures interacts with customers. Sanjiv Goenka – Chairman of the RP-Sanjiv Goenka Group, Emami Group Director Aditya Agarwal, Harshavardhan Neotia of the Ambuja Neotia Group, Paharpur Cooling Towers’ MD Gaurav Swarup and Vishakha Mulye, Executive Director, ICICI Bank, were part of this enlightening discussion.
The ideas and insights born out of their interaction were invaluable, and made one thing clear – we’ve only just scratched the surface when it comes to managing customer relationships using technology. And as 5G, artificial intelligence and the Internet of Things become widespread, businesses will see another revolution in the way they interact with customers.
Thankfully, more thought leaders and titans of industry will come together at future editions of the high-powered summit to chart the future of work and help us stay ahead of the curve.
