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Forbes
4 days ago
- Business
- Forbes
When The Bots Pick Up The Phone: AI And Customer Service
Federico Sendra, CEO and cofounder of SpaceDev, a consultancy and development services company with a focus on blockchain and web3. Some time ago, I had to resolve a billing issue with my phone service provider. I was ready to endure one of those drawn-out sagas where you cycle through five menu options, wait 12 minutes and finally get routed to someone who asks you to repeat everything, but things started to go smoothly. Something dawned on me: I hadn't interacted with a person at any point during the call. Besides being able to understand me quite well, the voice assistant was pleasantly cordial and patient. The problem was resolved in three minutes, no transfer, no hold music. Moments like these are becoming more common, and not by accident. The quiet revolution in customer service is being powered by AI, and we're not talking about the clunky chatbots of 2017. This is something far more sophisticated, nuanced and, ultimately, human-centered. The Current Customer Service Landscape AI customer service involves using intelligent technologies—like agents and automated workflows—to enhance every aspect of the support journey. It may sound like we're far away from seeing it implemented on a massive scale, but current use cases abound: Financial institutions use AI to triage fraud inquiries, airlines deploy virtual agents to handle rebookings during travel disruptions and e-commerce brands rely on AI to manage things like product recommendations and order updates. According to a 2023 report by Gartner, "by 2025, 80% of customer service and support organizations will be applying generative AI technology in some form to improve agent productivity and customer experience (CX)." And it's working: Zendesk's "CX Trends 2024" report indicates that over two-thirds of CX leaders believe AI's more personalized, empathetic interactions help foster long-term loyalty. What AI Can (And Can't) Do There's a familiar rationale that leads most executives toward AI: cost savings. And it's true: AI-enabled customer service platforms can reduce operational costs by up to 30% by handling routine queries, shortening resolution times and lowering headcount. AI's existence may seem to threaten someone's dream job, but let's be honest: No one's losing sleep over getting a gig doing appointment scheduling, order tracking, password resets and so on. These are all repetitive, predictable interactions with a clear logic tree, ideal for automation. The ultimate point here is to create better experiences, and AI doesn't get tired, lose its temper or forget to follow up. Where things get more complex is in emotional nuance, exception handling or conflict resolution. That's where hybrid models, where AI assists the human agent, become powerful. For example, AI can summarize the customer's last three conversations before the agent picks up the call, allowing for quicker context and greater rapport. And, in any case, most people still want humans on the other end. How To Think About Tools One of the questions I get most often is, "Should we build our own AI or use an existing platform?" The answer depends on your scale, your data and your ambitions. If you're a growing business with a modest support team, you'll likely get a lot of mileage from off-the-shelf tools like Intercom's Fin, Zendesk's AI suite or HubSpot's ChatSpot. These platforms are trained on general customer service patterns and integrate easily with CRM systems. But if your product has complex logic or regulatory nuance—let's say, a fintech—then custom models fine-tuned on your internal knowledge base might be worth the investment. We've helped several mid-size companies transition from "rule-based" bots to AI agents powered by retrieval-augmented generation (RAG) models. These aren't plug-and-play, but when done right, the results are transformative. Lessons From The Field One of our clients—a logistics company operating across Latin America—was struggling with a high churn rate in support staff and inconsistent service quality. Their goal wasn't just automation; it was knowledge preservation: How do you make sure new support agents don't start from zero? We built them a system where AI agents acted as first responders and knowledge companions. These bots could answer 70% of incoming queries with precision. Within six months, resolution time dropped by 38%, and support team satisfaction increased because they got to focus on more meaningful, non-scripted work. But we've also seen missteps. Another client deployed a chatbot without sufficient training data or fallback logic. It misunderstood basic terms, didn't recognize when customers were angry and, ultimately, eroded trust. The lesson? AI needs human guidance, not just technical tuning. Where To Begin And What To Expect Companies that succeed with AI in customer service have to do their homework first. This entails understanding workflows, data and customer pain points. A few practical tips if you're considering the move: • Don't automate everything. Start with a high-volume, low-risk interaction, like order status inquiries or booking confirmations. • Train your AI with real conversations. The more representative the data, the smarter the bot. • Involve your support team. They're being enhanced, not replaced. Make them part of the implementation, and use their insights to refine the AI. • Test with shadow mode. Run the AI in the background while humans still handle queries. Compare outputs before going live. As for timelines, a basic implementation of a third-party tool can take weeks. A custom model that integrates across systems? Think months. But if you do it right, it's an investment that compounds because AI keeps learning. A Mirror Of What You Value The thing about customer service is that it's not just a function; it's a reflection. A company that automates support without care sends a message: You're a cost to be managed. A company that uses AI to augment the experience sends a different message: We value your time, and we're using technology to honor it. At SpaceDev, we've watched companies fail fast with AI because they treated it like a Band-Aid. And we've seen others succeed, because they saw it as an opportunity to rethink how they serve, listen and respond. AI in customer service is about what's meaningful. And that's a question only humans can answer. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Gulf Business
10-07-2025
- Business
- Gulf Business
Four key considerations for digital asset firms eyeing the UAE
Image: Supplied The UAE continues to experience momentum and innovation in digital assets. With the Central Bank's recent regulation for payment tokens, the approval of the first UAE dirham-backed stablecoin and significant startup and investment activity, the region is actively shaping its role and the future of web3. In April, Abu Dhabi's sovereign wealth fund ADQ, First Abu Dhabi Bank and IHC announced plans to jointly launch a new dirham-backed stablecoin. This initiative adds momentum to the country's efforts to become a global hub for digital assets and fintech innovation. While the landscape expands with potential, it's also layered with complexity. For years, FTI Consulting has worked closely with digital asset businesses navigating the global terrain. Throughout numerous engagements, the team has observed four core decisions that are integral to successful implementation and growth. For digital assets businesses entering the UAE, these include: Understand the regulatory landscape The UAE isn't a single regulatory body. At the federal level, the Securities and Commodities Authority is responsible for regulating virtual asset service providers across the country. In Dubai, most federal duties are delegated into Dubai's Virtual Assets Regulatory Authority. Financial free zones operate separately, where the Dubai Financial Services Authority of Dubai Financial International Centre and the Financial Services Regulatory Authority of Abu Dhabi Global Market offer specialised frameworks. In recent years, the UAE has created a mature digital assets policy environment. Initiatives like the CBUAE's Payment Token Services Regulation and VARA's clear licensing paths are ushering confidence in the sector. Still, businesses must understand which regulator they need to work with, which licenses their activities fall under and whether their virtual assets fall under digital securities, virtual assets, or other classifications like NFTs or tokenised real-world assets. Lack of regulatory awareness can lead to delays, duplication or denials. Choose the right jurisdiction Digital asset firms must carefully consider which jurisdiction to set up in. Dubai and Abu Dhabi continue to lead with distinct propositions. Dubai's Ultimately, firms must weigh access to capital, legal comfort, sector-specific regulations and operational incentives when choosing a home base. Select the best economic free zone The UAE is home to more than 40 multidisciplinary free zones, many of which offer 100 per cent foreign ownership and simplified business setup processes. But in digital assets, only a handful offer the tailored infrastructure and licensing options that virtual asset firms require. Emerging initiatives like RAK DAO in Ras Al Khaimah — the world's first free zone dedicated entirely to digital and virtual asset companies — offer promising incentives. Still, the framework is yet to fully mature and gain market validation, particularly in comparison to other free zones. Free zones like DMCC, DWTC and RAK DAO, or financial free zones like ADGM and DIFC, stand out due to their focused support for blockchain and web3 businesses, including access to sandboxes, advisory networks or tokenization frameworks. Hub71 in ADGM, for instance, houses over 300 startups and offers dedicated web3 incentives under its Choosing the right zone can mean the difference between navigating bureaucracy or accelerating growth. Secure a banking partner and knowledgeable advisors Many digital asset firms in the UAE face challenges opening corporate bank accounts and the options are still limited. This is gradually changing. The Central Bank's 2023 guidance on how licensed financial institutions should assess and work with VASPs has helped banks better understand risk thresholds and compliance expectations. Strong due diligence processes, clarity around business models and an understanding of local anti-money laundering and other anti-fraud requirements are essential to building trust with banking partners. Working with external advisors who are experts in the digital assets industry and understand the technical, operational and regulatory nuances across jurisdictions is essential to conducting adequate diligence and establishing a strong foundation for growth. Firms are recommended to engage with partners early to avoid struggles at a later stage. The bottom line The UAE is taking consistent and meaningful steps to underpin a growing digital assets market. The country continues to serve as an example of how to create policies that will enable and maintain an ecosystem over the long term. Importantly, for businesses looking to make the move, success requires much more than enthusiasm. It demands strategy. By navigating regulation carefully, choosing the jurisdiction and free zone that fits the business's unique needs and building strong banking relationships, firms can avoid common pitfalls. This is what can create a posture that will thrive in this evolving environment. The writer is the MD, Blockchain and Digital Assets, Technology Advisory, FTI Consulting Middle East.
Forbes
17-06-2025
- Business
- Forbes
How Much Is Barron Trump Worth?
A child during his father's first term, Barron Trump has become a political advisor—and business partner—to the president. Barron Trump was all in on cryptocurrency before his father knew hardly anything about it. 'Barron knows so much about this,' the president said during an interview in September, when the Trump family launched a crypto venture named World Liberty Financial. 'Barron's a young guy, but he knows it—he talks about his wallet,' Trump added. 'He's got four wallets or something, and I'm saying, 'What is a wallet?'' In the nine months since, Donald Trump has made an estimated billion dollars or so on crypto—and his youngest son has done quite well, too. In fact, it's possible that Barron Trump has earned nearly $40 million, leaving him with an estimated $25 million fortune after accounting for taxes. That appears to be much more money than his older siblings piled up at his age. Trump's older children had small stakes in their father's tower in Las Vegas, then his hotel in Washington, D.C. But none of that seems to have thrown off as much cash as the crypto craze, which provided Barron with an opulent welcome into the Trump family business. World Liberty Financial's 'gold paper'—a Trumpified white paper—named Barron as a 'web3 ambassador,' the same title given to Don Jr. and Eric Trump. All three are also listed on its website as cofounders along with four others. But for months it remained a complete mystery how much of a stake the Trump heirs received in the venture. On Friday, however, their father—dubbed 'chief crypto advocate' in the gold paper and cofounder emeritus on the website—released a financial disclosure report, revealing that he held a personal stake of 52.5% and unnamed family members owned another 22.5%. The document does not detail the split among the family members. But if Don Jr., Eric and Barron shared equal stakes, each would have taken 7.5% of the overall venture—the exact same amount that Trump's three eldest children held in his D.C. hotel. How much money has World Liberty Financial thrown off so far? The venture sold at least $550 million of tokens, with everything after the first $30 million apparently flowing to the owners. Barron and his older brothers, therefore, could have received $39 million apiece before taxes. But there is one complication. The Trump family apparently sold a partial interest in the venture sometime around January 2025, a transaction that seems to have come after the cutoff date for the recent financial disclosure. Depending on exactly when the Trumps sold that stake—and for how much—Barron and his brothers could have come away with a different sum. Representatives of World Liberty Financial and the Trump Organization did not respond to requests for comment. Regardless of Barron's exact take, there is little question that, at age 19, he has already joined the long list of presidential relatives who have found ways to cash in on their proximity to power. He was just nine when his father famously descended the golden escalator inside Trump Tower to announce a presidential bid. Seventeen months later, Donald Trump won the election, moving into the White House in January 2017. Barron and Melania followed that summer. Once in Washington, he reportedly enrolled at St. Andrew's Episcopal School in Potomac, Maryland, where tuition today runs upwards of $50,000 annually. His public appearances remained rare, but according to a biography of Melania published in 2020, she renegotiated her prenuptial agreement in 2018 to secure her son better inheritance terms and more involvement in the family business. During his years out of the White House and out of the spotlight, Barron reportedly attended Oxbridge Academy in West Palm Beach, Florida, which charges annual tuition of over $40,000. In September 2024, he enrolled in New York University's Stern School of Business, which costs $99,000 per year. That same month, his father announced the creation of World Liberty Financial. Barron should not have any trouble affording tuition.
Geeky Gadgets
14-06-2025
- Business
- Geeky Gadgets
Finding the Best Solana Wallet: A Guide to Secure Solana Storage
Navigating the world of cryptocurrencies can be both exciting and daunting, especially when it comes to choosing the right Solana wallet. With a plethora of options available, users must ensure they select a secure option that aligns with their digital asset needs. Understanding Solana wallets Solana wallets are essential tools for anyone looking to buy, store, swap, send, or receive Solana-based assets. These wallets allow users not only to hold Solana securely but also to interact seamlessly with web3 apps. The decentralized nature of these wallets offers users privacy and control over their funds, unlike traditional banking systems. When evaluating Solana wallets, one must consider features such as security protocols, user interface, and additional functionalities like staking and NFT support. Solana's architecture inherently supports high-speed transactions and low fees, making it a preferred choice among crypto enthusiasts who need an efficient system to handle their assets, including using a Solana wallet. The importance of crypto security and self-custody Cryptocurrency security hinges on the principle of self-custody. Unlike keeping money in a bank, where an institution holds custody, with cryptocurrencies such as Solana, the responsibility lies with the owner. This means holding private keys securely is fundamental to prevent potential theft or loss of funds. Hardware solutions have emerged as a popular choice due to their enhanced security measures. These devices store private keys offline, minimizing exposure to online threats. While termed as highly secure, owners must follow best practices in usage to maintain their assets' safety. Ledger, for example, is known for its robust security features, providing an excellent means to safeguard Solana-based assets. How self-custody impacts user experience With the rise of decentralized applications, maintaining full control over assets has potentially never been more important. Self-custody empowers individuals to participate actively in the crypto economy, fostering true ownership. It requires individuals to act responsibly, ensuring private keys are managed judiciously. The independence this setup offers makes it an attractive option for tech-savvy investors seeking autonomy over their digital wealth. Moreover, the ability to engage directly with staking opportunities exemplifies the freedom that self-custody brings. By managing personal assets, individuals can stake Solana tokens within their wallets to earn passive income through network participation—a compelling reason to consider Solana wallets as a strategic investment tool. Exploring different types of Solana wallets Selecting the most suitable Solana wallet involves understanding the nuances of each type. Below is an overview of the common categories: Hardware wallets: Known for exceptional security, these devices safely store private keys offline. Ideal for those prioritizing protection against hacks and malware. Known for exceptional security, these devices safely store private keys offline. Ideal for those prioritizing protection against hacks and malware. Software wallets: Offering flexibility with mobile and desktop versions, these wallets bring convenience and versatility, enabling users to connect easily with dApps and manage assets on-the-go. Offering flexibility with mobile and desktop versions, these wallets bring convenience and versatility, enabling users to connect easily with dApps and manage assets on-the-go. Web wallets: Accessible via internet browsers, these wallets provide straightforward access without requiring installation. However, they may present higher risks compared to hardware alternatives. Leveraging hardware solutions: A closer look at Ledger Among the myriad of choices, Ledger stands out as a leading provider of hardware wallets. Recognized for its durable design and intuitive interface, Ledger caters to those seriously committed to securing their Solana-based assets. Its advanced security features include a unique operating system and a secure chip, specifically engineered to protect against emerging cyber threats. Through Ledger Live, users gain access to a comprehensive dashboard for tracking their portfolio, participating in staking, and engaging with other web3 apps. Its broad compatibility with DEFI projects further enhances its appeal, positioning it as a smart choice for long-term Solana asset management. Secure Your Solana with Confidence and Control As Solana continues to power fast, low-cost blockchain transactions, choosing the right wallet becomes key to maximizing both security and usability. Whether you're managing NFTs, staking tokens, or diving into DeFi, embracing a self-custodial solution like Ledger offers unmatched protection and complete ownership of your digital assets. By taking control of your private keys and leveraging trusted tools, you set yourself up for a secure and empowered journey through the Solana ecosystem. Filed Under: Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
