Customer Service, Fintech, Technology

Building Customer Relationships During The 5th Industrial Revolution

According to the World Economic Forum, we are standing at the threshold of the 5th Industrial Revolution (5IR).  

Loosely described as focusing on “the combination of humans and machines in the workplace,” 5IR is poised to go far beyond that and make significant impacts in all areas of our personal and professional lives. 

A rapidly evolving set of consumer preferences is the driving force behind 5IR. These preferences are largely changing due to what happened during the 4th Industrial Revolution, which has been marked by never seen before advances in Artificial Intelligence, IoT, robotics, automation, and more.   

While we’ve all benefited from these advances, 5IR will use cues taken from consumers suggesting that dehumanization has gone too far in some areas. In other words, consumers are increasingly trusting businesses that embrace personalized experiences and do not abandon the empathy and understanding associated with human-to-human interaction. 

Perhaps more than any other business discipline, customer experience and support will have to continue to adapt as a result.

Brands will be well-advised to resist the urge to become overly reliant on AI tools in a contact center environment. As Forbes Magazine Contributor Shep Hyken rightly pointed out:

“No doubt customers want and expect ease, convenience, self-service solutions, and other concepts that don’t need human-to-human interaction. However, the less contact a customer has with the company, the less opportunity for the emotional connection that drives customer loyalty. Smart companies will recognize the balance needed between the digital world and the human-to-human world. Those companies win.”

As we head into 5IR, smart brands will keep the following in mind:

  • There will always be complex circumstances that require the attention of a trained and experienced human agent. Relying on technology to address such circumstances without the option to interact with a human will very likely lead to a diminished customer experience and an erosion of brand loyalty.
  • Personalized experiences will be even more important than they already are. Even when utilizing AI tools, brands need to remember that consumers want and expect personalization.
  • Consumers will want even more choices with how to communicate with brands. Brands need to be proactive about identifying and offering new convenient yet personalized options.
  • Empathy will continue to rise as a priority. AI tools cannot yet be genuinely empathetic on a human level. While the convenience of automation has a positive effect on the customer journey, we must also consider when empathy is called for over convenience. 

Here at Servicing Solutions, each technology tool we implement is carefully scrutinized to ensure that it improves the customer experience and meets current preferences. The result is a blend of the most powerful technologies with the right level of human interaction that creates an unparalleled customer experience and true brand loyalty.

Ready to arrive at the right blend of cutting-edge technology and human interaction to provide customer experiences that are built for 5IR?  We’d love to talk.  Drop us a line at or give us a call at 844.877.6583.