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

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

VANCOUVER, British Columbia — 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.

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“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