One day to go for #e4mConclave: Four ways AI is enabling marketing
Panel discussion at exchange4media's Conclave on Human Insight vs AI in Marketing will be moderated by Bindu Sethi, Chief Strategy Officer, JWT India.
Published - 15-November-2018
Artificial Intelligence (AI) and Machine Learning (ML) are no more alien technologies to marketers. Savvy advertisers are using AI and ML to achieve a variety of business goals.
Typically, tech giants like Google and e-commerce platforms lead the way in the field of AI. AI has made online search easier and smarter. Using these technologies makes discoverability for brands very easy. In addition to improving discoverability, AI can help brands reach customers through programmatic advertising, customer content curation and in chatbots that interface with consumers to enable dynamic pricing and more.
While the debate of Human Insight vs Artificial Intelligence rages on, exchange4media takes a look at some real-life applications of artificial intelligence technologies.
Netflix: Recommendation Engine
More than 80 per cent of the TV shows people watch on Netflix are discovered through the platform’s recommendation system. This essentially means that most of the content you watch on Netflix is decided by Netflix’s super-secret recommendation algorithm. Its hyper-specific categorisation which can match content to the people who are interested in watching them. Netflix studies implicit and explicit consumer behaviour and reportedly categorises viewers into more than two thousands taste groups. Netflix’s AI-assisted recommendation system is estimated to save it $1 billion per year.
CocaCola: Vending Machines
Coca-Cola is using the technology to drive unique purchasing experiences. In Japan, Coca-Cola fans can use their smartphone to access a vending machine loyalty scheme. By installing the Coke On app, they can collect points when they visit a machine by connecting their phone to it.
Coke is trying to use AI in terms of optimising how the vending machines are placed and where they're placed to ensure consumer demand is met. By analysing purchasing behaviours and customer data, the vending machines will be able to promote appropriate products for the area, and even offer discounts and deals which will be bespoke to that machine. In addition, the artificial intelligence will also be able to adjust the "mood" of the vending machine to be appropriate for its location. This means that in a gym, for instance, a machine may promote more water.
Future Group: Data Lakes
Google is working with Future Group to help identify the locations of the retailer’s next 9,000 Easy Day stores by mapping consumer density. Interestingly, Google’s data mining has shown that Future Group does not need 9,000 stores, but can actually make do with 6,600 strategically placed stores for maximum ROI.
Future Group has also tied up with social media network Facebook to aid with generating user-behaviour profiles and enriching Easy Day member profiles. The company is also building a data lake, a data repository on which it will build its Artificial Intelligence platform.
Staples: Ease of Ordering
Staples, the office products and services store, has been using AI to help consumers place orders using any digital channel of their choice. Staples transformed their Easy Button into an intelligent, voice-driven interface that can reorder office supplies with minimum human interaction.
Staples along with IBM used cognitive computing combining machine learning, natural language processing and contextual understanding to create systems that can learn and interact with people. The button is fitted with an in-built microphone. When a customer speaks into the microphone, the speech is first converted into text. Then AI and ML technologies are used to understand the customer’s intent contained in that text.
Staples’ final goal is to be able to be able to make product and services recommendations based on this better understanding of the customers’ preferences, behaviours and buying patterns.
These are all the innovative ways in which brands are using artificial intelligence, machine learning and technology in general. The exchange4media Conclave will further discuss the various possibilities that AI and ML throw open to marketers. Attend the Panel Discussion on Human Insight vs AI in Marketing to listen to what our experts have to say.
The panel discussion will be moderated by Bindu Sethi, Chief Strategy Officer, J Walter Thompson India, and comprise Anirudh Pandharkar, Head - Marketing, VIP Industries; Arvind Chintamani, CMO, Colgate- Palmolive; Juzer Tambawalla, Head - Marketing, Franklin Templeton; Mayank Shah, Category Head, Parle Products; Navneet Narula, Head - Watson Customer Engagement (India & South Asia), IBM India, and Pradeep Hejmadi, Group CEO, Aidem Ventures Pvt Ltd.For more updates, subscribe to exchange4media's WhatsApp Channel- https://bit.ly/2QUdLCK