Citizens of developed countries — the U.K., the U.S., and Germany, in particular — are the globe’s AI trendsetters. Asking Amazon’s Alexa to dim the lights and fire up some music is normal, everyday behavior.
Over in Belgium or Greece, however, Microsoft’s Cortana may fail to recognize spoken words. While market sizing and language intricacies are contributing factors, confusion surrounding AI is impeding mainstream adoption in certain regions.
Demographics are a vital consideration when leveraging futuristic tech. Introducing products into unwilling or unready markets is a lost cause.
On the other side of the coin, creating products specifically for certain regions showcases a thorough understanding — or, at the least, a data-driven estimate — of what consumers want.
Amplifying Product-Market Fit
RedFOX Labs is currently building a cashback and rewards app. But it’s not for everyone. In fact, we’re custom-crafting the first iteration for the country of Myanmar.
Because the country joined Southeast Asia’s Internet economy only recently, vast market data isn’t readily available. However, what we do know is that like the rest of SEA, Internet access is primarily mobile.
Plus, a query for the term “rewards app” on Google Trends reveals an interesting statistic. The worldwide leader for that specific search term is none other than Myanmar.
As one of Southeast Asia’s most impoverished nations, it’s no surprise that its residents are in constant pursuit of means to save money on everyday purchases. In other words, RedFOX is delivering a solution built for a market already expressing tremendous interest.
Now, while our upcoming app will act as a portal to SEA’s rapidly expanding Internet economy, we’re uninterested in creating something that’s merely average. On the contrary, we’re bolstering our new app with a friendly AI chatbot.
Digital inclusion — ensuring everyone has equal access to modern tech — is at the heart of everything we do here at RedFOX Labs. But while creating digitally inclusive goods and services is one thing, upping the entire user experience is another.
A recent partnership with Misfit Technologies enables us to effortlessly double our efforts towards digital inclusion. Misfit’s award-winning, AI-equipped chatbot — Alice — is a crucial element of future RedFOX offerings.
Do you remember your first online purchase? You may have found it a little intimidating. Imagine having an expertly-trained virtual assistant holding your hand throughout the entire process.
Some users will buy their very first online product via our rewards app. For them, an AI chatbot serves as a personal guide to the Internet economy.
Yes, Alice offers unlimited customer service capacity, every hour of every day. Yes, Alice intercepts common product questions, freeing staff to focus on business-building tasks. But Alice’s benefits are even more profound.
Scalability & Cost-Savings
We hope you already consider yourself entrepreneurial, but if not, picture yourself as a proud owner of a fresh eCommerce website.
As sales trickle in — congrats! — you’re comfortable fielding customer queries on your own. But then, although it’s a good problem to have, sales triple and now you’re hiring staff.
Support costs increase with every new hire. After all, there are salaries and benefits and paid leave and company outings and maybe the occasional bagel in the breakroom. You know, all those things that humans enjoy.
By deploying an AI-powered chatbot, rather than employing staff, businesses gain a workhorse that only gets better over time. You see, the more you use Alice — the more data its fed — the more efficient it becomes.
Alice self-learns from past interactions and automatically generates text messages in response to real-time questions.
Businesses can quickly and cost-effectively scale with the help of an algorithmic partner. And compared to human counterparts, well, there is no comparison.
Alice in Action
Here’s an example of Alice’s implementation in the banking industry. Frequent events — new account openings, lost debit cards — are fully automated. No waiting on hold to speak with an agent who may or may not be interested in providing genuine assistance.
As you just saw, Alice creates a win-win situation. The customer gets instantaneous assistance, while the company avoids time and cost sunk into routine, mundane tasks.
Returning to the original question, yes, the world is absolutely ready for AI chatbots. Human-code interactions are on the rise. For example, by 2020, half of Google searches will be voice-activated. And today, the vast majority of customer interactions occur without human intervention.
Part of why certain regions are slow to adopt AI is because the tech simply isn’t available to them. And that’s where our app comes into play. Beginning with Myanmar then moving into Vietnam and the Philippines, RedFOX is building AI-enabled gateways into SEA’s digital economy.
Like blockchain and the Internet before it, AI is rewriting the rules of doing business. With proper implementation, efficiencies increase while costs decline.
And by having Alice reside within Myanmar’s cashback and rewards app, RedFOX Labs is extending a helping hand to those who’ve yet to experience digital inclusion.
While Alice is on the front lines of consumer interaction, there’s no substitute for a real person in certain situations. We’re certainly not abandoning human-centered service. But having a digital assistant that never stops working allows us to streamline our business practices.
The first iteration of our rewards and cashback app is coming soon, and we’re thrilled about what it can do!