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Survey Reveals 55% of CXM Leaders Plan to Invest $1 Million or more in GenAI in Next 12-18 Months

Press ReleaseJanuary 23, 2024

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  • Customer Experience Management (CXM) leaders cite personalization, cost reduction and increased efficiencies as reasons for consideration

VANCOUVER, British Columbia (January 23, 2024) – More than half (55%) of Customer Experience Management (CXM) leaders plan to invest US $1 million or more in generative AI (GenAI) in the next 12-18 months, with 16% of leaders expecting to spend more than $10 million. Everest Group, supported by TELUS International (NYSE and TSX: TIXT), surveyed 200 CXM leaders from around the world to determine their enterprise readiness for GenAI adoption.

"The opportunities that GenAI presents for augmenting and enhancing customer experience is undeniable as this diverse group of leaders, across various industries and geographies, have highlighted its potential to streamline processes, reduce costs and improve the overall customer experience,” said Steve Nemzer, Senior Director of AI, Innovation & Growth at TELUS International AI Data Solutions. “As leaders progress their GenAI journey in this new year, it is imperative they are detailed and thoughtful about how they inform and incorporate these tools within their organizations. Collaborating with an external partner can help leaders ensure GenAI is applied responsibly, with best practices and evolving regulations in mind, to ensure successful implementation of the technology.” The majority of respondents ranked personalization and customization of customer interactions as the primary reason for considering GenAI solutions in their CXM operations. This was followed by reducing costs, increasing efficiencies and improving automation in CXM processes, and gaining insights and actionable intelligence from customer data. When it comes to GenAI opportunities, leaders believe text generation has the highest potential for CXM application (53%) followed by code generation (33%), audio generation (29%) and image generation (24%).

Enterprise Readiness for GenAI Adoption in 2024

Additional findings from the report include:

  • Companies are only scratching the surface of GenAI innovation: No more than 7% of surveyed CXM leaders consider any of their GenAI solutions to be at a steady-state in their organization. The most progress has been made in the areas of text generation, with 46% either at the piloting or deploying stage and 21% at the scaling-up stage. Nearly half (47%) indicated they plan to pilot/deploy GenAI solutions within their customer support operations for non-voice channels in the next 6-12 months.
  • CXM leaders are proactive in addressing GenAI’s risks: When it comes to their organization’s ability to adopt and implement GenAI solutions, the surveyed CXM leaders share the highest concerns over public solutions exposing them to risks (22%), data security and privacy (20%) and meeting regulatory compliance (16%).
  • Outsourcing partnerships are essential for integrating GenAI solutions: 76% of surveyed CXM leaders are planning to use an outsourcing partnership in some capacity to help implement a GenAI solution in their CX operations. The primary reason indicated for this collaborative approach is limited resources and internal expertise. Additional key factors included cost considerations and budget constraints, and time-to-market requirements.

TELUS International is a leading provider of end-to-end AI data solutions including the creation of training and test datasets, content generation, dataset engineering and linguistic annotation. The company tests and improves machine learning models through its AI Community of over one million annotators and linguists that handle all data types across 500+ languages and dialects. TELUS International also provides GenAI software engineering services with a special expertise in application development including the consultancy, design, build, deployment and maintenance phases.

TELUS International recently launched Fuel iX, the company’s enhanced solution backed by the power of generative AI to deliver end-to-end CX innovation and AI-fueled intelligent experiences (iX) and Experts Engine, a fully-managed, tech-enabled experts-on-demand sourcing solution for generative AI model builders.

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