Page 5 - AeM_August_2019

RESEARCH, ANALYSIS & TRENDS

assistants to automatically make certain purchases So, how can one effectively enthrall the AI-augmented
on their behalf, particularly in tickets (73%), travel consumer?
bookings (65%) and appointments like medical,
maintenance, car servicing, etc. (54%). “Based on Cognizant’s research, traditional companies
will need to go the extra mile in overhauling their digital
• Singaporeans are relatively less demanding of infrastructure, go-to-consumer strategies, and customer
hyper-personalized experiences, and Malaysians experience goals,” says Manish Bahl, Associate Vice
appreciate brand offerings that help them save President, Centre for the Future of Work – APAC,
time and money Cognizant. “These companies will have to adopt a
three-pronged ‘Reimagine, Rebuild and Rethink”
While 60% of Singapore respondents (compared to approach: Reimagine their brand; rebuild digital
the SEA average of 65% and global average of reputation to reach augmented customers; and rethink
68%) said a customized experience is vital, more their relevance to form deeper relationships with
than half (55%, compared to the global average of consumers and resonate with their behavior. By
50%) were satisfied with the level of personalization focusing on the human-machine dynamic of this new
provided by traditional businesses such as banks, era, brands will be able to understand and anticipate
insurance companies, telecom operators, etc. the needs of tomorrow’s customers, to swiftly deliver
Nearly 54% of Malaysian respondents (compared to value that they hadn’t yet realized they needed.” ◊
the global average of 60%) said they feel a bond
with brands that help them save time and money
and make their life incrementally easier, more
enjoyable and more productive. By Manish Bahl

Associate Vice President,
• Companies are paying a huge penalty for falling Cognizant’s Center for the Future
short in payment experiences, especially in SEA of Work, Asia-Pacific

Nearly one-third (28%) of respondents globally said
that in the last 12 months, they have cancelled a
purchase simply because of a poor payment
experience. Interestingly, consumers in SEA view
this in even higher priority than other regions around
the world (30%).

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