Internet and Mobile Association of India (IAMAI) and Exotel along with Grant Thornton Bharat released a new white paper entitled "AI-Driven Customer Experience: Balancing Personalization, Privacy, and Automation". This report delves into how the CXaaS- Customer Experience as a Service affects various sectors, chiefly e-commerce and BFSI.

India's e-commerce market is rapidly growing at a A significant contributor to this growth is the demand from Tier II and III cities, which account for  of the overall e-commerce expansion.  As internet access improves in these regions, consumers are looking for better online experiences. The whitepaper highlights that of Indian customers are willing to share their data with trusted brands, creating many opportunities for businesses to engage with their audience.

Indian E-commerce market set to reach $325 billion by 2030 with CAGR of 18.12%, driving need for advanced CX solutions due to rising digital transactions, changing customers preferences, and policy support from government on digitization.

The growth of the Indian retail and e-commerce industry is driving the rapid adoption of CXaaS platforms, enabling businesses to meet evolving consumer demands. This growth is supported by the rising penetration of internet services, with 936.16 million internet subscribers and 350 million online users actively participating in digital transactions. Additionally, the smartphone base is expected to reach 1.1 billion by 2025, further fuelling the digital commerce boom. The increasing volume of transactions has necessitated advanced CX solutions.

Globally, India is emerging as a major contributor to the digital economy, expected to hit $1 trillion by 2030. E-commerce platforms are also expanding into tier-2 and tier-3 cities, with these regions growing their market share from 34.2% in 2021 to 41.5% in 2022. This shift demands localized and scalable CXaaS solutions to cater to diverse consumer needs.

The report also states that CXaaS is giving positive impact by fraud detection within the BFSI sector improving via AI-powered customer experience solutions. This advancement is starkly important for securing the financial services sector. In retail, integrated CX strategies have improved conversion rates by Plus, enhanced customer experiences have improved satisfaction scores in e-commerce by while reducing cart abandonment by

With virtual agents managing  of customer interactions worldwide, they provide business operations 24/7 assistance while raking in cost efficiencies of Automation has clearly become critical, as of consumers worldwide abandon brands after disappointing experiences. The whitepaper states that of consumers expect transparency concerning how their data is used. There is an increasing demand for privacy-conserving AI technology to build trust with customers.

With a digital economy projected to grow beyond $1 trillion by 2030, CXaaS will be essential for enhancing business competitiveness. Technologies that represent the business's endeavor to grasp a digitally-savvy consumer base would henceforth provide these new growth opportunities across all tiers of cities. This whitepaper serves as a valuable resource for organizations that wish to adapt to changing customer experience and digital engagement, ultimately enhancing their operations and strengthening their customer relationships.

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