To say that AI has been considerably hyped is a considerable understatement. But for all the teething problems and inflated expectations, the truth is that AI is growing in importance at a rapid pace, and practical use cases are multiplying. You may even be surprised by how much AI is already a part of our daily lives.
This is especially the case for marketing, and it’s the reason why Swrve CSO Barry Nolan believes that there are plentiful reasons to be optimistic, as heard in ‘Marketing’s Future With AI: Beyond the Hype, There’s Hope,’ his recent webinar hosted in partnership the Mobile Marketing Association (MMA).
You can watch the whole webinar here, which contains a multitude of great examples of practical AI use cases, but for those of you short on time today, here’s a snapshot of what was covered:
What Is AI?
Everyone has been reading, talking, and hearing about AI for what seems like a very long time, and yet it can still be hard to understand exactly what it is. In fact, it can be easier to define what it isn’t: it isn’t an app you simply install; it isn’t going to replace humans; it isn’t The Terminator coming to kill us all.
Instead, it’s a constellation of discrete models, each trained with superpowers in their own narrowly defined lane. We use AI multiple times everyday. Everytime we unlock our phones with Face ID. Everytime we route a journey on Google Maps. Everytime we play an automated playlist on a music streaming app. Everytime we say ‘hey Siri’ or ‘hey Alexa’. This is all made possible by AI.
At its heart, it enables computers to learn without being being programmed. Every interaction makes them smarter, enabling computers to sense; to react; to serve; to act; to comprehend. AI is truly a game changer.
Why AI Now?
Three things have happened that have helped AI take a giant leap forward in recent years:
- Huge streams of data are captured from a near infinite number of touchpoints
- Smarter data models have been developed to make sense of this gargantuan amount of data, brought about from increased research, and sharing of research
- Processing platforms and capabilities to crunch this data have improved immensely, as well as becoming more affordable
What Will AI Do for Marketing?
AI is already starting to have a profound effect on marketing, and this is only going to grow in coming years. Traditionally, marketing used to be just advertising, but now, powered by AI, it is everything. Marketing guides every interaction with every customer, and AI intelligently underpins every engagement. The two are inextricably linked.
6 Ways AI is Changing Everyday Life
Seeing and Understanding: Thanks to what has become the world’s most important sensor - the camera - computers can now see and understand the world. For example visual searches: see something you like, take a photo of it, and AI will identify it, and link you to where you can purchase it.
Augmenting Reality: AR driven by AI gives context about your environment—a UI for the physical world. For example, if you want to see what a new armchair would look like in your living room, Ikea’s UI for interior design allows you to get a good impression. By pointing your camera where you want the armchair to be placed, it will appear as an overlay on your device’s screen, as if it were in the room with you. No more bad decision buys!
Hearing and Speaking: Computers can do so much more than simply read text these days: they can comprehend, hear, and interact as well. In fact speech recognition has developed to the point that it is on par with humans in terms of understanding and speaking. It’s going to revolutionize customer service, because if your systems can understand what your customers are saying, and how they’re saying it, you can unlock their intent or sentiment, and react accordingly.
Creating Content: AI can also generate content, such as Bloomberg’s single sentence summaries of articles in their global news network. AI generated photorealistic images are perhaps more impressive, such as the fake celebrities that chip-maker Nvidia published last year. The line between what is real and artificial are becoming increasingly blurred!
Making Predictions: Humans have been analysing data and making predictions based on the results for a long time. But AI has supercharged this in truly fantastic ways, continuously learning from user data, and generating exponentially more accurate predictions as a result, which in turn helps to optimize engagement, retention, and revenue.
Acting Autonomously: Perhaps more than any other area of AI, this gets the most attention. And rightfully so, as it has the potential to truly change the world, and how we live in it. Particularly when it comes to autonomous vehicles. But it is undoubtedly a long, long way off being a part of our everyday lives.
And finally, here are 4 things you should be doing (today!) to implement AI:
- Understand use cases and sources of value: Think what your business needs and business cases are, and build them around mobile first interactions. Mobile is everything when it comes to AI, as so much data can be collected from it.
- Data Streams and Infrastructure: Build a data infrastructure and capture the data streams in real-time, as well as in incredible depth. The number one data stream to capture is, obviously, mobile.
- AI tools and APIs: Build AI tools and APIs, which are the processing platforms that allow you to make sense of the huge amounts of data collected. It’s always worth remembering that they do not have to be created in-house.
- Workflows and Customer Interaction: There’s no point knowing all this useful information, like who is going to churn, or who is going to purchase, if it’s not going to be embedded into your workflows, or integrated in your CRM stacks and systems of engagement, where they can be acted on.
So there we have it. Not only the future, but the present too, is looking extraordinarily bright for AI. If you’d like to find out more about how Swrve’s own AI capabilities can help your business communicate with your customers, and improve retention, engagement, and revenue, please contact us here. And if this snapshot piqued your interest, why not watch the whole webinar?