New survey reveals rapid expansion of AI in customer-related services
A joint survey by Oliver Wyman, a global management consultancy and a business of Marsh McLennan (NYSE: MMC), and the industry organization gfu Consumer & Home Electronics shows that executives expect a rapid expansion of the use of artificial intelligence (AI) in customer-related services within the next five years.
The survey encompassed over 100 decision-makers from various sectors including consumer electronics, large and small electrical appliances, smart home, telecommunications, and automotive. It analyzed various AI use cases including in marketing, predictive maintenance, and customer services across different stages of customer interaction: pre-purchase during product usage, and post-purchase.
Almost every company surveyed (95%) is using AI already in at least one of these areas, while 68% state that they have introduced AI in three or more areas. Only 7% of companies currently report a broad implementation of AI across multiple stages. Within the next five years, respondents expect a rapid increase: by 2029, 83% of companies intend to use AI in at least three areas, with 75% even expecting five or more application scenarios.
According to the respondents, AI not only improves quality, efficiency, and customer satisfaction, but also delivers measurable financial benefits. Accordingly, the use of AI leads to an average increase in turnover and profit of 2.8% and 1.9% respectively. At the same time, structural costs fell by an average of 3.4%.
The companies surveyed recorded measurable benefits in marketing in particular – more than twice as many companies (97%) want to use AI in their marketing by 2029 compared to today. The same applies to sales advice, where an increase from 39 to 94% is expected in the same period. Predictive maintenance is still an underdeveloped field of application: only 23% of companies use AI in this area. This is where executives expect the strongest growth rates, with an increase to 88% by 2029.
“The progress made and ambitions to expand the use of AI demonstrate the potential of the technology in improving client engagement and satisfaction. Companies that push ahead with AI implementations at an early stage can gain a significant competitive advantage,” says Martin Schulte, partner at Oliver Wyman.
“A positive attitude towards AI prevails among the managers surveyed. In addition to increases in quality and efficiency for the companies, both drove customer and employee satisfaction along with reduced structural costs. This is a rare win-win situation for both customers and companies,” adds Sara Warneke, Managing Director gfu, summarizing the findings of the survey.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has 7,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC].
For more information, visit www.oliverwyman.com. Follow Oliver Wyman on X @OliverWyman.