Transforming user experience in ‘algorithm-driven economy
The third season of Netflix’ Black Mirror series started with an episode called “Nosedive”, in which people rate each other constantly in a 5-star rating system. Every interaction with a fellow human triggers a rating, which in turn, sends the person’s publicly visible average rating up or down. This rating determines their value in the society, their access to various services, and their employability.
While Nosedive and many other episodes of Black Mirrors are satirical depictions of the evolving and futuristic adoption of technology, they also, in some way, depict the power of disruption and transformation brought in by the rapidly changing digital technologies that are amplifying the human potential.
Former President of USA Obama recently said, “Now is the greatest time to be alive”. We are living in interesting times indeed. Never before in history has the speed of change been so rapid and never again in the future, will the speed of change be so slow!
The train of change on the technology front seems to be running at full steam, apparently ignoring the turbulence and volatility on the global economy. Technological advances have contributed to the transformation of customer expectations while simultaneously providing enterprises with the digital tools to create the amazing experiences that their customers expect. Human behavior is transforming through these experiences along the three dimensions of interaction, consumption and collaboration.
Customers increasingly expect personalized and highly relevant interactions, catering to their own
context. Digital technology is enabling enterprises to meet these expectations by delivering personalization to large numbers of customers at low cost.
In today’s digital economy, offering just products and services is no longer enough. Many enterprises are therefore using digital technologies to offer customers unique and unforgettable experiences as customer experience has emerged as an increasingly important differentiator alongside the quality of the core offering.
The concept of collaboration instead of ownership has become mainstream – in North America alone, there more than 110 million people are now participating in the collaborative economy. Customers are attracted by the convenience of on-demand access, the prospect of financial savings, and its potential to improve their quality of life.
Unlike in the past, we no longer talk of information technology or digital technology within the narrow context or confines of the enterprise. Technology permeates all walks of life and is equally relevant in the different spheres of life – home, work and society. Customer feedback has always mattered but, in the digital era, it is more important than ever. In today’s hyper connected world of e-commerce, customers can source products from around the world at their fingertips leveraging technology. Social media has given customers powerful new tools to promote brands they like or express disapproval of things they do not like.
Let’s briefly look at how digital technology is transforming user experiences in different spheres of life (home, work and society).