Artificial Intelligence (AI) may cause concern in the workforce in fear of their jobs being taking over by robots. However, AI not only supports jobs – it enhances them to a new level. AI does not just mean talking robots and machinery, but also encompasses deep algorithms that can immensely help achieve a firm’s goals.
Technology is an ever-growing industry that effects all firms across the board. From financial banking, to consulting, to manufacturers – AI can be used to support efficiency and effectiveness. Companies have already started to implement some algorithms in order to create a competitive advantage in their industry. Rather than live in fear of technology, companies must embrace the change to stay ahead of the competition.
So, how can marketing use AI to their companies advantage?
· Customer Segmentation – using AI to personalize your customers experience with your product/service will help build consumer loyalty and value. Certain algorithms put in place to differentiate specific customer’s likes, preferences, dislikes, etc. will make your customer feel special; ultimately, making them feel more comfortable and happy with your product/service. Using AI to deliver the perfect message at just the right time for customers could even lead to increased sales.
· Accuracy – ever have a problem figuring out who your target audience is for your product/service? AI helps to predict future and past customer trends in order to best predict your target market. Rather than use demographics to determine your market, you can use AI to sift through consumer data for you. This will save time, money, and effort in the long run.
· Streamlining – being effective is hard in general – but even harder for a marketer. Customer preferences and expectations are constantly changing and AI offers the opportunity to keep up with these ever-changing needs. Not only does this save immense amounts of time, but also is more accurate in developing smarter marketing campaigns.
So, what are you waiting for? Start implementing AI into your firm and embrace the changes. Roberta Pellant Consulting can help.
By: Carly Kohler for Roberta Pellant Consulting