KPMG report offers fresh insight into leveraging AI

The report highlights strategies for leveraging technology and AI to elevate customer experiences while maintaining the critical human connection in a rapidly digitalising world.

Photo: KPMG in Vietnam

Now in its fifth edition, the Vietnam CEE Report is part of KPMG’s global initiative, which surveyed over 86,000 consumers and analysed nearly 3,000 brands across 23 countries.

For Vietnam, the report evaluated 95 brands spanning eight sectors, including financial services, retail, travel, and telecommunications.

The report underscores the importance of harmonising AI advancements with human interactions to meet customer expectations.

While Vietnamese customers value personalised experiences and brand integrity, they also prioritise human connections in the increasingly tech-driven landscape.

Nguyen Tuan Hong Phuc, partner, head of Customer and Operations Consulting at KPMG in Vietnam, noted that Vietnamese customers highly value personalisation and integrity, yet still prioritise human connections, even in an increasingly tech-driven landscape.

"Businesses need to strategically integrate AI and human touch to meet rising customer expectations, rebuild trust, and foster loyalty in today's competitive market," said Phuc.

Photo: KPMG in Vietnam

In light of the fresh report, economic uncertainties have tightened customer spending, yet Vietnamese consumers perceive improved pricing strategies from brands this year. The 25-34 age group continues to face financial pressures, product quality and brand reputation remain top priorities in their purchasing decisions.

The report also indicates that personalisation and integrity are identified as key factors influencing loyalty and advocacy. Consumers expect AI-driven, real-time personalisation combined with transparency and trust.

According to the report, the use of AI in customer interactions is growing, but so are consumer concerns regarding data privacy, job displacement, and the lack of human empathy.

Businesses must then focus on creating empathetic, human-like AI to address these concerns. The report delves into how industries such as telecoms, banking, retail, and logistics are leveraging AI to meet customer needs and drive growth.

In respect to top-performing brands, Samsung Store has secured the top spot in 2024 Vietnam CEE rankings.

Samsung excels in the Integrity and Time and Effort pillars, delivering seamless online and offline shopping experiences. Its flexible financing, diverse product offerings, and corporate social responsibility investments enable Samsung to outperform the market average by 7 per cent, setting a benchmark in customer satisfaction.

Meanwhile, with an impressive jump of 62 places to rank sixth PetroVietnam Oil Corporation (PVOIL) under state conglomerate PetroVietnam has transformed its customer experience through the PVOIL4U app, offering features like non-cash payments, gamification, and the innovative ‘buy now, pay later’ option in partnership with HD Bank.

PVOIL’s focus on transparency, personalisation, and well-trained staff highlights its commitment to excellence.

2024 CEE Leaderboard

The 2024 Vietnam CEE Report outlines actionable strategies for businesses to achieve a connected experience, seamlessly aligning technology and human touchpoints. This balance is essential to building trust, enhancing satisfaction, and driving loyalty in today’s competitive market.

To offer more profound insights into specific industries, this year’s edition also includes a supplementary publication with a dedicated focus on sub-sectors as telecom, supermarkets, banking, and insurance.

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