The Everyday Truth of Artificial Intelligence
When we think about Artificial Intelligence it feels like a distant industry. However, we are in the midst of another industrial revolution – an Artificial Intelligence revolution. It has appeared in our daily lives, albeit in a very discreet manner. Forbes called it the ‘Intelligence Revolution’. AI exists in our everyday activities such as social media, online shopping, and grocery visits. It has a role to play in almost everything. In this article, we will discuss a few examples of AI you may or may not have picked up on.
Let’s Break Down AI
AI creates intelligent machines that can process information and think like humans. Some of these abilities include; voice recognition, decision making, translating languages, and visual perception.
AI needs data to make these decisions, which is endless when we consider the amount of data surrounding us. As we have more data than ever before, the power of AI has increased more than ever. Consequently, allowing for the rapid growth of our interaction with AI. With more data, AI technology generates results faster and more effectively. For example, the more you listen to Spotify, it can give more accurate suggestions. Such a principle runs across most streaming sites and apps.
Why Do You Need To Understand AI?
Most simplistically, AI can help make your business smarter, faster, and more efficient.
AI can make your business operate more effectively, regardless of scale. Most traditional businesses are appearing to make leaps towards digitising their operations. Whether that be on internally or externally. The transformation is happening, and that too rapidly.
AI has enabled digital marketing to transform and provide beneficial insights for companies. The ability to collect, analyse, and apply data can allow companies to redirect and effectively spend their marketing budgets. Digital marketing uses AI is to recommend pages, products, incorporate AI chatbots. Moreover, it also helps email marketers reach the right customer, with the right message, at the right time to ensure a successful conversion. All of which, enables more personalised experiences for the user and customer.
Non-Marketing Related Examples
For example, AI technology is used in agriculture to run and operate more efficient farming. Farmers are using AI to monitor their crop levels, UV levels, water, weather conditions, and soil nutrition. Moreover, it has helped farmers ascertain when and where to harvest crops. Such information can then allow farmers to develop perfect recipes by which they can create optimal growing conditions.
The idea behind Google Home is to create a range of services that create new means of controlling and managing the home. AI technology allows Google to automate and anticipate the needs of customers at home. The machine learning aspects for it to better understand and respond to commands. Google’s smart home strategy is pinned up upon incorporating AI.
AI has allowed retail companies to bridge the gap between physical and virtual channels. By bringing AI into physical stores, it allows companies to provide similar levels of accuracy and personalised customer service. Also, it saves time for customers who don’t want to wait in queues or search through rails of product. An example of seamlessly bringing the virtual and physical together is exhibited by Macy’s. Macy’s, an American department store, introduced the ‘Macy’s On Call app’ which navigates customers through the store and checks inventory levels with the help of an AI bot. Interestingly, the bot can detect if the customer is getting frustrated and alert an employee to assist the customer.
Contrastingly, Starbucks used AI technology to transform the in-store experience and extend the Business-Customer relationship. The idea behind incorporating AI within Starbucks stores was to reduce the time managers and baristas spent in the back room. Therefore, allowing their staff to build connections with customers enhancing their in-store experience, a concept they believe underlies their business.
Good Vs Bad
AI development has created two opposing camps towards its fast growth. Pro-AI believers argue that it can create incredible results optimising the use of technological advancement. Resulting in easier processes and simplifying everyday life. On the other hand, those Anti AI are sceptical about the usage of the data collected. If misused AI can be dangerous and have serious consequences. Nonetheless, the technology appears to be going in one direction. Therefore, AI can be an incredibly helpful tool in advancing a business’s growth and expansion, albeit this needs to be done ethically and wisely. Ultimately, finding the balance between using AI to create maximum value for your business and customers.
The key takeaway from this is that, despite the scale of your business, not adapting to AI can leave you at risk of being left behind. You can rethink about how you can create your product/service or bring them to the market. It can also be reevaluating the most effective processes that go into creating your product/service offering. In the most radical case, it could be rethinking your entire business model.
If you want to learn more about how AI is changing the digital marketing scene, click here to learn more.