New technologies will reshape customer relations by 2020

If you're not the type to enjoy communicating with other human beings, you're in luck. You only need to be patient for another four to five years, and you're home free. There's a new report that was just released this morning - Can Virtual Experiences Replace Reality?, written by Oracle. 

It says that human-to-human interaction, when it comes to brands and customer experience in general, will suffer significant change.  The biggest culprits are new technologies, namely virtual reality and chatbots. More than three quarters (78 per cent) of brands expect virtual reality to be essential to customer experience by 2020, and even more (80 per cent) think the same of chatbots.  

Almost half (48 per cent) have already implemented automation technologies in sales, marketing and customer services. Another 40 per cent are planning to do so by 2020 – totalling 88 per cent.  Despite the fact that everyone expects these new technologies to make a significant impact in the mid-term, brands are currently struggling. Six in ten (60 per cent) are currently not including any social or CRM data in their customer analytics. 

“While virtual reality may be seen as a passing craze by some, the commitment of some of the world’s biggest companies to develop VR products for consumers suggests otherwise. Brands will always look to experiment with new technologies as they try to find ways of delivering innovative and memorable experiences for their customers,” said Daryn Mason, Senior Director, CX Applications at Oracle. 

Image Credit: Knight Center for Journalism / Flickr