Techमंच: Data alone does not work, human element has to be added: Ravi Santhanam, HDFC (video)
At exchange4media's digital conference TechManch, the CMO spoke about digital disruption and its impact on marketers
Marketing space has evolved over the years and it is very different from what it used to be five years back, said Ravi Santhanam, Chief Marketing Officer, HDFC Bank, as he took to the podium at exchange4media’s digital conference TechManch 2018. Santhanam spoke about how digital is a disruption for marketers today.
Watch the entire session here:
"Five years back, people would ask me about my data guy. But today, we have data scientists. And this shows the way our working style has changed. Earlier, we had media planners, but now we have platform specialists,” said Santhanam.
“Change has been constant and has been adapted well by everyone,” said Santhanam.
During his session, the CMO raised several questions for his listeners: Do we need to worry about the future? What is that we need to adapt to when we look around to see the changes that is happening in the name of digital disruption?
Talking about Artificial Intelligence (AI), Santhanam shared that today, reliability on AI is much more than what it was expected to be. “Artificial Intelligence will not do the marketing for you, it will only define your marketing strategy. Don’t go behind Artificial Intelligence, go behind what it can deliver for the customers. We need to move away from theoretical Artificial Intelligence and move towards Applied AI, which is defining a very specific new space,” elaborated Santhanam.
Data alone cannot stand on its own. Human element has to be added, because it brings context to the conversation,” he added.
As the session proceeded, Santhanam talked about digital transformation. “Everybody talks about AI and its consequences, but nobody thinks about where digital transformation is heading. The prediction of blockchain and marketing is going stronger now,” he said. “Digital transformation cuts across the entire company. So as a marketer, it is necessary to make sure that it is intervened and inspirational,” the CMO added.
Santhanan concluded the session by suggesting marketers that they should viewing the problems from the lens of consumers rather than just digital aspects. He emphasized on the need to understand the whole consumer experience to outgrow the business.
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