Three Days to Go! Let's Discuss the Marketer and Machine Conundrum at #e4mConclave
The overarching theme for the exchange4media Conclave is 'Marketer and Machine: How AI will transform marketing?' The event will be held on November 16 in Mumbai
Artificial Intelligence has transcended the sci-fi fantasy world right into the real world rapidly shaping a world that looks a lot like Spielberg's Minority Report. The applications of artificial intelligence are industry agnostic, wide and varied. AI is soon finding its way through the marketing industry, giving strength to the data-rich ecosystem.
For now, AI is primarily used in recommendation engines and predictive analytics. Some companies are attempting to use it for real-time bidding infrastructure. This narrow zone in which AI is aiding marketers is expected to soon explode.
Technologies like 5G in telecommunications which will trigger applications like Internet of Things will present new challenges and drive growth of AI for businesses, says Anil S Nair, CEO & Managing Partner, L&K Saatchi & Saatchi India. “AI will shorten the consumer decision making process,” says Nair. He predicts that aspects of Search and Choose before buying will collapse into one when AI takes over because the machine takes over, because it “preempts the needs of the consumer and addresses those needs based on the behaviour pattern of the consumer.”
Marketers typically attempt to influence consumers at every stage of their decision-making process. When the process collapses, the marketer will need to pack in a punch in the limited opportunities available, says Nair. He quickly adds that while that may be the case for traditional marketing activities, AI will provide a multitude of layers where marketers can still influence a buy.
Therefore, marketers are treating machines as allies and not competition. “Machines have the power to amplify the decision and accelerate its impact. That's where AI could play a big role,” says Suvodeep Das, Vice President - Marketing, Sodexo Benefits and Rewards Services.
Marketers and agencies alike have therefore embraced AI and are attempting to make sense of it all. Just this year Publicis Groupe launched its proprietary AI platform Marcel which has been built by Microsoft. IBM’s AI marketing solution - Watson - which was built in 2011 has been helping marketers boost digital marketing.
But there are a few gaps in the AI-Marketer relationship. For one, “marketers do not understand the machine,” says Nair. “It sounds harsh, but it’s true,” he says. The reverse is true as well. The machine-makers do not understand the needs of the marketer. Describing the gaps in the relationship, Axon Alex, Head of Strategy, Jack in the Box Worldwide, says, “Marketers understand the possibilities of machine. But the machine is far from perfect right now to be understood.”
Alex adds, “Until we achieve the singularity of Marketer and Machine, it’s still the marketers’ job in identifying problem. However, the marketing wizards armed with AI will be better equipped to execute the more important task of identifying the problem with better precision rather than generalising and educated guesswork which is the case today.”
Varun Duggirala, co-founder, The Glitch, believes that although there are gaps, the tremendous amount of learning that is taking place on both sides is the biggest positive of this situation. He says that if the marketer is unable to grasp the complete range of abilities of the machine and use that to her advantage, then it is not the machine’s fault.
Duggirala had one piece of advice for the tech giants building and developing AI for marketing. He said, that the tools and technology need to be tuned in a B2C fashion rather than B2B to enable marketers to use these tools.
All the marketers and agency leaders exchange4media spoke to said that predictive analytics is the one AI-led tactic that they are most looking forward to work with in the future. The experts also said that they would like to see AI help in achieving personalisation at scale, move away from interruptive advertising to value-added advertising that targets consumers at the right moments.
We are standing at the threshold of an exciting world that will make sci-fi reality. Technology is changing the marketing ecosystem and redefines the roles and responsibilities of the marketers. Experts will discuss all these changes and understand the macro-trends that will define the future of marketer and machine at the exchange4media Conclave on November 16 in Mumbai.
The overarching theme for the Conclave is “Marketer and Machine: How AI will transform marketing?” Attend the enlightening sessions to hear what other expert speakers from around the globe have to say about Marketer and Machine.
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