Tech Trend Update: How AI and LLMS have impacted Customer Value Management in a snap

This week last year was billed as a “massive week for AI” by CNN. It seems like just the other day, but it’s a whole year ago that “openAI unveiled the latest version of the technology that underpins its viral ChatGPT chatbot. Elon Musk announced a sarcastic AI ChatGPT rival called Grok coming to his platform, X, formerly known as Twitter. There was a Senate subcommittee hearing about AI regulation in the healthcare space, a targeted attack against OpenAI and the first wearable AI device that intends to one day replace the smartphone.”

12 months later and those of us steeped in the daily world of artificial intelligence and large language models have seen huge shifts in how and why customer value management in particular has been impacted by the rapid pace of change.

Today, we see a clear shift toward more mature, AI-driven customer engagement with an emphasis on real-time, ethical, and sustainable practices. Here is how we at iqbusiness have seen these trends evolving:

1. From Personalisation to Contextual AI-Driven Personalisation

• 2023: Personalisation is central, with efforts to build trust and optimise interactions. There’s a strong focus on using data science and customer data platforms (CDPs) to drive individualisation.
• 2024: This progresses to the use of AI agents that are context-aware, allowing for even deeper, more responsive personalisation. Rather than merely being data-driven, these agents are now learning from every touchpoint and context, adapting continuously to customer needs and preferences.

2. From Balancing Humanity and Automation to Enabling Human-Centric Automation

• 2023: The trend was on balancing human and automated interactions, using bots alongside people to meet customer needs efficiently.
• 2024: The focus shifts to enabling employees to become more authentically and diversely human by offloading low-value tasks to AI. The aim is to free up human resources to engage in more empathetic, complex interactions, reinforcing a customer-centred approach.

3. From Real-Time Responsiveness to Instantaneous, Limitless Reaction

• 2023: Real-time response was identified as essential, with businesses aiming to optimise their timing and agility in customer interactions.
• 2024: Real-time has evolved to “instant reaction time from a limitless workforce,” suggesting an always-on, infinitely scalable AI workforce capable of providing immediate responses around the clock, enhancing customer satisfaction and engagement.

4. From Data Privacy and Trust to Customer-Owned Data Availability

• 2023: Building trust through data privacy was a key focus, as businesses acknowledged that customer trust is foundational.
• 2024: This evolves to the concept of customer-owned data availability, where customers have greater control and ownership over their data. This trend aligns with global shifts toward data sovereignty, allowing for transparent data use that bolsters trust even further.

5. From Hyper-Personalisation and Convenience to Deep AI Insights and Prediction Engines

• 2023: Hyper-personalisation was driven by combining data to ensure convenience and relevance in interactions.
• 2024: This expands to sophisticated AI insights and predictive engines, which not only personalise but also anticipate customer needs, allowing for proactive engagement. Prediction capabilities make personalisation more powerful by aligning brand offerings with customer intent and likely future actions.

6. From Automated Decisioning to Contextually Intelligent AI Agents

• 2023: Automated decisioning allowed for individualised responses within a structured framework.
• 2024: AI agents are now contextually intelligent, able to make nuanced decisions informed by ongoing interactions across multiple channels. This shift reflects a move from rule-based automation to more flexible, AI-driven decision-making that feels more natural and responsive to the customer.

7. From Customer-Centricity to Ethical AI and Sustainability

• 2023: The focus was on optimizing journeys and ensuring every interaction was part of a seamless customer experience.
• 2024: There’s an added layer of ethical considerations, with AI ethics and governance becoming key. This trend emphasises responsible AI use, transparency, and sustainability, aligning CVM strategies with broader social values and corporate responsibility.

8. From Opti-Channel Strategies to Opti-Channel with AI-Enhanced Decisioning

• 2023: Opti-channel efforts were about using the right channels for each interaction, ensuring convenience for customers.
• 2024: The Opti-channel approach is now augmented by AI-enhanced decision-making, allowing for dynamic channel selection based on customer behaviour and preferences, optimising both engagement and resource allocation.

9. From Voice of the Customer (VOC) Integration to a Unified Voice of Everything (VOE)

• 2023: The VOC was integrated into business intelligence systems to ensure feedback informed decision-making.
• 2024: This progresses to an expansive VOE, where customer feedback, combined with other data sources, feeds into enterprise intelligence. This integrated approach leverages more extensive data inputs for a holistic view, enhancing decision-making and responsiveness.

10. From a Focus on Tools and Platforms to Generative AI Content and Zero Copy Cloud

• 2023: Emphasis was on tools like CDPs and platforms that consolidate and activate customer data.
• 2024: The focus shifts to deploying Generative AI to create and distribute content, marking a leap in how brands engage with customers through AI-crafted messaging. The move toward zero-copy cloud also reflects a shift toward more seamless, scalable data management.

Summary

The impact of AI and LLMs in just 12 months has had a massive impact on the maturation of Customer Value Management strategies. The core elements—personalisation, trust, real-time responsiveness—remain, but they’re now amplified by advanced AI capabilities. The 2024 trends show an ecosystem where AI is not only a tool for automation but also a sophisticated partner in delivering contextual, ethical, and sustainable customer experiences. The shift underscores an industry prepared to go beyond automation, aiming to build lasting, meaningful customer relationships through intelligent, empathetic, and proactive engagement.

We can’t wait to anticipate and experience the changes 2025 will bring in what will undoubtedly be another MASSIVE year for AI.

Author: Garth Brown, Associate Partner, Relationship Lead Data and Analytics

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