Artificial intelligence sounds like something right out of the movies, doesn’t it? While it may initially conjure up images of UFOs, aliens, and other strange unexplained things, the reality is that artificial intelligence (AI) is very much a part of our world today. In fact, it could help improve your brand experience. How exactly can it do that? Let’s find out.

A World Driven by AI

If you aren’t sure if you have ever relied on artificial intelligence, let’s look a little closer.

• Have you ordered a book or movie on Amazon/Netflix based on a recommendation they provided after looking at past selections
• Have you relied on Google to get you home in a new direction to avoid traffic situations?
• Have you ever asked Siri a question?

If you answered “yes” to any of these scenarios, you already use AI in your personal life. Are businesses doing the same?

According to her Ad Age article “How Marketers Are Using AI to Improve the Brand Experience,” Beth Snyder Bulik reports that IDC “predicts that global spending on cognitive systems will reach $31.3 billion by 2019.” Similarly, Accenture says that AI could double economic growth rates by 2035 and boost labor productivity by nearly 40%. Beyond efficiency and cost improvements, AI can help improve the overall brand experience, making it more “personalized and predictive.”

When brands incorporate AI functionality into their systems, it is essentially mimicking the human brain and simulating how consumers think. This understanding can help marketers to better anticipate consumer needs and wants. For example, several brands now utilize the capabilities of IBM’s Watson, the cloud-based cognitive engine “that can think like a human” with the help of machine learning and natural language processing. Watson Ads, used by companies like Toyota and Unilever, helps brands uncover consumer and product insights. These companies use this knowledge to create one-to-one brand experiences that resonate with target audience consumers. Other applications of AI can include matching customer needs with the right product, or even virtual assistants to better help people locate the information they are looking for. For instance, if an AI-driven system can answer all the many questions a customer may have in a detail-driven industry (i.e. insurance) without employing a live person (let alone a call center), what kind of impact could that have on your business bottom line?

As an industry example, KLM (a Netherlands-based air carrier) can recommend answers for 60,000 customer questions; 10% of these are even sent without human editing. And, the system continues to learn and improve as it collects more data and monitors customer interactions.

Will Artificial Intelligence Replace Humans?

No. In fact, it’s not about that at all. Instead, AI is designed to help humans work better and smarter. Armed with the smartest insights into customer behavior and experience, people can conduct more meaningful and helpful interactions with their customers. It gives them the tools to better understand exactly what customers want, what they struggle with, and how to help them in a more substantial way.

Can this technology be abused? Of course, it can. If you become fully automated devoid of any human interaction, you could turn off your customers. Ask for too much personal information to better fuel your AI systems, and that can backfire. While people might trust technology and AI systems more these days (who doesn’t like a spot-on recommendation?), they still want a human component. Yes, it’s a fine line and a tough balance to achieve, but with the right business approach and the perfect mix of AI, your brand experience can become even more memorable.

Is artificial intelligence part of your business model? Or, are you small enough that you can create your own “AI” through smart analysis and personalized consumer interactions? We would love to hear about your experience, so please share!
 
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References:
http://adage.com/article/cmo-strategy/marketers-ai-improve-brand-experience/306483/