Acxiom – CX Predictions, 2024

In 2023, OpenAI's ChatGPT gained immense popularity, with over 1.6 billion website visits and 100 million active monthly users. This marked the entrance of generative AI into mainstream consciousness, sparking both excitement and concern. While 39% of consumers believe AI can solve major global challenges, such as wealth inequality and climate change, 63% worry about the potential job displacement caused by AI. AI has already made significant advancements in automation, personalization, and customer experience transformation. It will continue to revolutionize brand interactions by predicting customer preferences, generating relevant content, and suggesting the ideal communication channels. Companies recognize that utilizing data and predictive analytics to enhance customer experience will give them a competitive edge in the next five years. Generative AI tools like ChatGPT and Google's Bard have been utilized by 50% of consumers personally and 22% in a work context. To thrive in this new AI-enabled CX era, businesses must have an effective data strategy to train AI models and effectively utilize the data available. This will ensure they can deliver the next generation of AI-powered customer experiences.