CEO Council Forum: Technology and the consumer experience

Key Concepts

• Beaming Technology: A technology that allows individuals to be present and interact in remote locations.
• AI Avatar: A digital representation of a person, powered by artificial intelligence, capable of multilingual interaction.
• HIPAA Compliance: Adherence to the Health Insurance Portability and Accountability Act, ensuring the privacy and security of protected health information.
• Value Add: An enhancement or improvement to an existing product or service.
• Customer Engagement: The level of interaction and involvement a customer has with a business or its offerings.

Deployment and Consumer/Business Interaction

Proto's technology has been deployed globally, enabling individuals to "beam" into various locations. The integration of artificial intelligence (AI) into the operating system enhances the user experience, allowing beamed individuals to perceive, see, and interact with the environment and people present. A key feature is the AI avatar, which can seamlessly take over when the human user disconnects, continuing interactions in a multilingual and interactive manner.

Applications and Case Studies

• Sports and Entertainment: Proto is utilized in dozens of arenas and stadiums, facilitating meet-and-greets, merchandise interactions, and advertising opportunities for athletes and entertainers.
• Healthcare: The technology is now HIPAA compliant, enabling leading medical professionals to "beam" into remote rural clinics. This allows for private consultations with patients, such as cancer patients in remote locations, where the presence and information provided by the doctor are critically important.
• Retail and Hospitality: Proto serves as a concierge or an initial point of contact for customers and visitors. It allows for interaction not only with sales staff but also directly with products as if they were physically present.

Impact on Retail and Value Proposition

The application of this technology in retail is examined in terms of whether it acts as a value add or a replacement for existing services. The consensus is that it serves as "a little bit of both."

• Enhanced Customer Engagement: AI avatars are observed to generate higher interaction and engagement rates compared to human staff, especially for new employees.
• Revenue Generation and Customer Satisfaction: The technology directly addresses a common retail problem: customers leaving without a purchase because they cannot find what they are looking for. It is estimated that an average of 3% of revenue is lost in large retail stores due to this issue. Proto's solution helps customers find items more efficiently, leading to increased revenue for retailers and a more satisfactory experience for customers.

Conclusion

Proto's beaming technology, augmented with AI avatars, is transforming various sectors by enhancing presence, interaction, and access. Its applications in sports, entertainment, healthcare, and retail demonstrate its versatility and potential to improve customer engagement, drive revenue, and bridge geographical barriers for essential services. The technology is positioned as a significant value add, improving efficiency and customer satisfaction across different industries.