While advances in AI and machine learning tend to provoke one of two reactions—a general dystopian anxiety or vision of a gleaming connected futurist society—the fundamental truth is that we are in the midst of a major disruptive cycle in the way humans and brands interact.
From single-channel applications like natural language processing-enabled chatbots to core AI marketing platforms that orchestrate every customer interaction, 78 percent of marketers are working on adopting or expanding AI in 2018.
Although increased investment in AI and machine learning initiatives permeate the technology roadmap across most major brands, most marketers don’t really have a sense of how AI will affect the daily lives of their teams and customers. With this in mind, we’ve put together this list to help dispel the five myths of AI that we’re commonly seeing across major enterprise marketing teams.
Myth 1: AI will take jobs from CX and marketing professionals.
Amongst enterprise marketers at global brands, we’re seeing a deployed AI solution create a shift in the burden of labor for marketing professionals. Rather than focusing on manual tasks like static segment creation or rules-based targeting and customer journey orchestration, there is a focus on creative strategy and how to use insights from machine learning/artificial intelligence campaigns to develop more valuable customer experiences.
Myth 2: AI platforms offer little or no transparency into how decisions are being made.
While deep learning networks allow little visibility into how decisions are being made, artificial intelligence marketing (AIM) platforms applying the right techniques to drive learning and marketing optimization can give marketers access to machine-intuited insights into both performance and how decisions are being actually made.
Myth 3: AI is only for innovative, digitally mature enterprises.
Although companies like Facebook, Google, and Amazon are recognized as the forerunners in the commercial application of AI to customer experiences, recognized brands from traditional industries like telecom, financial services, gaming, software and retail are now seeing success in improving customer retention, average revenue per user, and the individual customer experience from deploying AI marketing technologies to orchestrate and optimize cross-channel experiences and automatically experiment at scale.
Myth 4: AI is primarily relegated to chat bots.
While chat bots and AI-assisted customer service are an easy-to-grasp, channel-specific use case for marketers, the real transformation occurs when AI is deployed as a centralized decisioning layer. This happens between existing data ecosystems and all engagement channels, such as native mobile apps, websites, email, SMS, customer service centers, in-store experiences, and more. Not only does this allow for connected, intuitive cross-channel experiences for consumers, but it also decreases the risk of campaign and channel conflict, for example resulting in the cannibalization of one revenue stream to grow another.
Myth 5: AI will dehumanize brands in the eyes of consumers
Despite the explosion of behavioral data and personalization initiatives, large brands chronically fail to understand individual consumers using today’s traditional marketing clouds. Interactions are fragmented. Each channel of communication has its own data and automation rules. Moments of interaction over the phone, in the app, or at the store, aren’t connected. The customer journey becomes a fixed conveyer belt of next best actions, campaign tactics, and short-term conversions.
In contrast, AI marketing is offering brands the opportunity to learn and adapt as consumers evolve so that interactions feel relevant, timely, and non-intrusive. No more mindless automation, no more fragmented interactions, and no more feeling misunderstood on the side of the customer. Ultimately,
this ability to deliver highly contextual, meaningful interactions results in a more human customer experience overall, and the better business performance that comes from it.
To learn more about evaluating artificial intelligence marketing solutions for 2018, get a free copy of "How to Hire a Machine: The CMO's Guide to Artificial Intelligence Marketing."
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Olly Downs, PhD, is a machine learning scientist and serial technology entrepreneur, credited with bringing advanced analytics and machine learning methods to bear as the creative spark behind numerous early-stage technology companies. Olly specializes in applying abstract analytical ideas from mathematical, physical, and statistical science to problems in the real world and commercializing them into significant businesses; to date this has resulted in 34 granted patents.
Olly is CEO and Chief Scientist at Amplero, Inc., an Artificial Intelligence Marketing (AIM) company that enables business-to-consumer (B2C) marketers in large enterprises to optimize customer lifetime value at a scale that is not humanly possible (Amplero.com).
Olly’s work has included pioneering applications of predictive analytics, probabilistic and location-based reasoning for INRIX, RocketFuel, Blab, AdReady, Farecast and MSN and offline analytics; including financial mathematics, quantum computing and Bayesian estimation, for HERE, SiriusXM, Globys, L1 Partners, D-Wave Systems, Apollo Data Technologies, Microsoft Research, Barnes & Noble, Knight Ridder, Ryder and IGT.
Follow him on Twitter at @mathandporsches.
Headquartered in Seattle, Amplero is an Artificial Intelligence Marketing (AIM) company that enables business-to-consumer (B2C) marketers at global brands to optimize customer lifetime value at a scale that is not humanly possible.
Unlike traditional rules-based marketing automation systems, Amplero's Artificial Intelligence Marketing Platform leverages machine learning and multi-armed bandit experimentation to dynamically test thousands of permutations to adaptively optimize every customer interaction and maximize customer lifetime value and loyalty.
With Amplero, marketers in competitive, customer-obsessed industries like telecom, banking, gaming and consumer tech are currently seeing measurable lift across key performance indicators-including 1-3% incremental growth in customer topline revenue and 3-5x lift in retention rates.
For more information, contact us today or follow us on Twitter.