RHB Banking Group(KLSE: RHBBANK)

Kelfred Hor is a UK certified Chartered IT Professional (CITP) and an Australian ICT certified professional (CP). He has over a decade of experience in technology start-ups and digital product management. Today he leads a squad at RHB Banking Group to deliver innovative and customer-centric in the areas of conversational banking (Live Chat, Chatbot and AI) and digital wealth management.

In this feature by MarTech Outlook APAC, Kelferd Hor discusses the rapid evolution of AI and voice search technology, emphasizing its impact on consumer interactions and the increasing importance of personalized, conversational keyword searches for brands and businesses.

Navigating the Digital Evolution

The trends in the workplace and technology have changed drastically, especially after COVID-19, with a significant shift towards remote work and increased use of technology. Additionally, major changes in demographics and customer behavior have transformed the marketing landscape, which is closely tied to the state of the internet. In the 1990s, Web 1.0 was a one-way communication medium where people could only read information without contributing. This era saw the development of early marketing technologies like email blast software. By the mid-2000s, advanced tools such as CRMs and social media marketing platforms emerged, coinciding with a surge in internet and social media users.

Today, we are gradually entering the era of Web 3.0, which allows for reading, writing, collaborating and cocreating online content. Technology is advancing rapidly. To keep up with these trends, marketing leaders must stay updated on internet growth, engage in continuous learning through online platforms and read extensively while networking through conferences and industry articles. By following these steps, they can navigate the evolving digital landscape effectively.

Leveraging Entrepreneurial Skills

RHB Bank is the fourth largest bank in Malaysia, recognized for its holistic innovation in community banking, also known as retail banking. In the early days of my career, I worked in tech startups, where I wore multiple hats due to scarce resources and fierce competition. The pace was fast, and to survive in this environment, I adopted an entrepreneurial mindset, gaining hands-on experience across various functions such as marketing, business development, operations and customer service. Although it was a challenging journey, it provided me with a holistic view of how to drive a business forward.

"Technology is advancing rapidly. To keep up with these trends, marketing leaders must stay updated on internet growth, engage in continuous learning through online platforms and read extensively while networking through conferences and industry articles"

When I transitioned to RHB Bank, I believed that the transferable skills I gained in the startup world would be highly valuable in a large, established industry. These skills enabled me to adapt and solve challenges creatively, particularly in the digital banking sector.

In my current role as a digital business professional, I prioritize knowledge transfer and mentoring to ensure my team performs well. I serve as a mediator between the banking consumers and the bank's technology services, translating customer needs into digital products and solutions.

Embracing AI and Big Data

Today, everyone is talking about AI and big data. While big data is still significant, the focus has shifted more towards data itself and how it is utilized. In the coming years, we will see greater use of AI, especially in marketing. There will be more integration of AI tools and models into marketing technology stacks. Although AI is not perfect yet, it is continually improving and will become more advanced in the future.

For example, the high usage of smartphones has led to the rise of voice search powered by AI. This technology is no longer just about virtual assistants like Alexa, it involves integrating large language models that enhance voice recognition and search capabilities. Younger consumers, in particular, expect quick outcomes when searching for information. According to a DataReportal study, about 30 percent of internet users aged 16 to 60 worldwide use a voice assistant weekly.

Voice search technology with AI is transforming how consumers search for information and interact with brands and businesses online. In the near future, there will be a greater focus on conversational keywords. For instance, users might say, "I need a coffee shop near me" or "seafood restaurants nearby." AI will recognize the speech, translate it into text, search the web, and return relevant results. Additionally, users can specify preferences, such as "I don't like spicy food; I prefer healthy options," and AI will refine the search results based on these preferences, providing a more personalized experience.