I want to make a point.
I've made you a video of a project my team has been working on to demonstrate how growth and leadership are impacted by AI.
I'd say disrupted actually.
This product is now in test with four financial companies and I've just been asked to speak at a conference about it.
I never saw this as my main business - which is growth, leadership, narratives and helping companies to connect - but with an AI lens, it absolutely is.
Consumer Duty is the FCA rule that requires financial services firms to deliver good outcomes for retail customers, including making sure customers can understand what they are told and are not harmed by products, prices or service.
The Proposition has spent years helping companies work out what needs to be true for them to go to market, starting with what customers really understand and believe.
A CMO of a well-known financial services company asked me whether AI could test their Consumer Duty communications faster, cheaper and more accurately than traditional panels,
“What needs to be true” for financial companies means they are clear, fair and treat vulnerable customers with respect. It also means the user journey or experience is easy to follow.
We decided to build a synthetic, AI-customer panel that financial companies could test themselves on.
Dutified is the result - a product The Proposition built with 200 (soon to be 1000) synthetic customers modelled on real people, which is now in test with four financial organisations.
Each synthetic customer is built from a real type of UK customer, from the financially confident to the vulnerable, and the model is calibrated to large published studies and surveys of how people read and act on financial and other types of information.
No personal customer data ever gets entered into the system.
A company uploads a letter, email or web page. The panel of synthetic customers reads it and reports back what they understood, where they got lost and what they would do next.
This gives the company a point of view of what to fix, a tool to fix it and a governance trail to accept changes.
Dutified axts an extra lens that sits alongside the panels and surveys firms already use, because those methods have their place.
It draws on a growing body of insight from published research, usability evidence and each firm’s own test history.
In other words, the more it's used, the better the results get - and the higher confidence levels become in the panel answers.
Dutified gives customer feedback only and the company decides on what to change and how to do it, so it does not give compliance or legal advice.
My point here is that your operating model is shifting. I see that model as safety, productivity and value. That is why customers, investors and employees engage.
But the structure of that and the rate it can change is now much faster and means your team structures have to be fluid enough to cope with that pace.
This is a real example of that.
Let me know what you think.
Dan
