Customer Identity Management (CIAM) might appear to be a straightforward exercise, but it is much more complex than the usual password authentications and easy security measures.
Simply jumping into a new technology headfirst isn’t going to ensure a successful program.
A proper foundation for decision-making and consideration of the people is necessary for the identity management strategy to be effective. Significant changes are required when you look at issues with customer data around systems and users of an organization. Managing identities in a linear fashion is not possible like managing a production line. Developing flexible strategies that adapt to changing business and support organization chaos is necessary.
What is Customer Identity Management?
It is a security and access management discipline that provides access to the right entities, for using the right resource, without any obstacle, with the devices of their preference. CIAM includes processes and systems that let enterprises provide a single digital identity to every user, offer authentication when they log in, access specific resources by authorization, and manage those identities during their lifecycle.
CIAM is an important aspect of an organization’s security since it stands between its assets and users. A successful identity management program will ensure the streamlined functioning of a digital system and enhance business productivity. There is centralized management that provides seamless access to the specific resources to its users for carrying out their jobs, no matter where the employee is.
Simply treating it as a project where you implement the technology for identity management solutions isn’t enough. You also need to take into account the audit aspect.
Why is Identity Management Strategy Required?
In the digital space, consumers have many choices, so the best way to keep them loyal and repeat customers is to provide them with a great user experience.
Identity management strategy is the key to providing such omnichannel experiences for customers. Customer identity management enables you to manage the relationships between your business and your customers by storing relevant information about them in one place.
It involves the creation of profiles that contain all of this information, which can be used to create personalized marketing strategies. Customer identity management also allows you to manage all of your customer interactions across multiple channels to provide a consistent experience for each person who interacts with your company. For example, if someone contacts you through email and then calls into your call center later on in the day, their information will be available to both agents so that they can pick up where they left off when speaking with them.
Strategies for Successful Customer Identity Management
An effective CIAM strategy should inspire an organization and challenge it for transformations that go beyond the limitations of the business. So, for the success of your identity management strategy, address the following areas.
1. Recognize Customer Pain Points
Understanding where you are is the first step in developing a customer identity management strategy. Conducting a formal analysis of the customer journey, user lifecycle, and provisioning processes with data governance is essential. These will provide a look into the pain points and struggles of your customers.
2. Identify new opportunities
Simply reviewing journeys and processes during the assessment won’t be enough, as you also need to talk to the internal and external stakeholders to identify new opportunities for leveraging IAM. A company’s technology and business aspect is a consolidation of every metric that provides an evidence-based narrative on the contribution.
3. Gain Insights
The above points help you understand where you are and your goal. Considering a portfolio-wide strategic approach to advanced technology is necessary to maximize benefits from the identity management strategy. Organizing interviews across the company will make the business a part of the process, drive awareness, and ensure a strategy that resonates with people.
4. Create the Roadmap
Creating the correct roadmap for the end goal from where you are today is the next step. Look at the supermarket analogy of packaged items in the categorized order, each having the cost of production and a price. These are measurable outcomes that were developed by partnering with the business. A good vision and a plan will guide investment in digital transformation. It also helps align the company’s spending on customer identity management to improve the outcomes for businesses and stakeholders.
Simplifying the Customer Identity Management Process
A company needs to have a disciplined implementation methodology to be successful. Leaders need to focus on the developed, streamlined identity management foundation and look beyond just coping with identifying data mess using overly-customized bloatware.
The evolution of technology has led to needing other secondary skills rather than just technical skills. Organizations are looking for people who can look beyond the technology aspect and focus more on the business value and its impact on the customers. With technologies like biometrics and voice recognition used as security measures, you can see the influence of the human aspect in identity management.
The requirement for making authentication easier with data collection and risk assessment continues to grow with evolution. Considering how this evolution is taking place and how organizations can support it is more than just using the technological aspect of identity management.
The end goal is to provide top-notch identity security solutions that ultimately lead to quality value for your customers on your platform.
Artificial Intelligence in the 4th Industrial Revolution
Artificial intelligence is providing disruptive changes in the 4th industrial revolution (Industry 4.0) by increasing interconnectivity and smart automation.
Industry 4.0 is revolutionizing the way companies manufacture, improve and distribute their products.
What Makes Artificial Intelligence Unique?
Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks.
It allows computers to think and behave like humans, but at much faster speeds and with much more processing power than the human brain can produce.
AI offers advantages of new and innovative services, and the potential to improve scale, speed and accuracy.
There are 3 types of artificial intelligence:
Artificial narrow intelligence (ANI), which has a narrow range of abilities.
Artificial general intelligence (AGI), which is on par with human capabilities.
Artificial superintelligence (ASI), which is more capable than a human.
Artificial intelligence can also be classified as weak or strong.
Weak AI refers to systems that are programmed to accomplish a wide range of problems but operate within a predetermined or pre-defined range of functions. Strong AI, on the other hand, refers to machines that exhibit human intelligence.
Artificial intelligence has several subsets:
Most AI examples that you hear about today – from chess-playing computers to self-driving cars – rely heavily on deep learning and natural language processing.
What is the Fourth Industrial Revolution?
The Fourth Industrial Revolution is the current and developing environment in which disruptive technologies and trends such as the Internet of Things (IoT), robotics, virtual reality (VR) and artificial intelligence (AI) are changing the way modern people live and work. The integration of these technologies into manufacturing practices is known as Industry 4.0.
The first industrial revolution used water and steam power to mechanize production.
The second used electric power to create mass production.
The third used electronics and information technology to automate production.
The fourth Industrial revolution is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres, with rising emerging technologies, as real AI, Narrow AI/ML/DL, robotics, automation, materials science, energy storage, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, neurotechnology, cognitive technology, and quantum computing. It implies radical disruptions to everything, industries, jobs, works, technologies, and old human conditions. In its scale, scope, complexity, and impact, the AI transformation will be unlike anything humankind has experienced before.
The Role of Artificial Intelligence in the 4th Industrial Revolution
Artificial intelligence is making companies make the best use of practical experience, even displacing traditional labor and becoming the productive factor itself.
It offers entirely new paths towards growth for manufacturing, service, and other industries, reshaping the world economy and bringing new opportunities for our societal development.
As AI begins to impact the workforce and automation replaces some existing skills, we’re seeing an increased need for emotional intelligence, creativity, and critical thinking.
Zvika Krieger, co-leader of the World Economic Forum’s Center for the Fourth Industrial Revolution.
Deploying AI requires a kind of reboot in the way companies think about privacy and security, As data becomes the currency of our digital lives, companies must ensure the privacy and security of customer information.
Businesses will need to ensure they have the right mix of skills in their workforce to keep pace with changing technology.
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