Connect with us

Technology Innovation CIO

The Emotion Economy in a Machine World



Vendors have always noted the importance of having a good relationship with their customers. Recently, businesses have had an opportunity of understanding their customers better by collecting, analysing data relating to their past actions and trying to understand their next moves. Technology has come a long way and machines are used for reading, studying and even trying to replicate customers’ emotions.

Currently, organisations look more into ’emotional economy’, which tries to understand feelings in addition to the customers’ actions. The emotional economy will completely change our interactions with these intelligent machines. If an organisation learns how the system works, it will significantly benefit from it and will outshine its competitors.

Emotion Economy; A Potential Revenue Stream

Understanding the emotional economy system allows businesses to get admirable revenue streams. Technology companies have already forecasted about positive financial implications of gaining an understanding of the emotional economy and are willing to invest.

Some organisations that have gone a step further and designed programmable robots, which are companions for the elderly. The robots allow relatives and caregivers to know how the older person has been feeling.

Why Machine Emotion is Essential

Investing in machine emotions will ensure the improvement of customer engagement. Technology will learn how to predict our needs better and allow machines to interact with humans naturally. One of the main differences between humans and machines has always been the ability of humans to understand and interpret emotions better.

These emotionally smarter machines will improve the customer service experience by being able to analyse the facial expressions, body language and tone of customers. Being able to analyse and interpret these traits and body language will lead to improved service delivery.

Organisations should work on coming up with the best ways of ensuring effective adoption and utilisation of this new technology. By doing so, they will reap many benefits, such as creating better customer relationships.

Continue Reading

Copyright © The C Suite. The C Suite is published by Strategic Investment Ltd, Vale Road Studios, OCC, 105 Eade Road, London, N4 1TJ.