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The increasing prevalence of artificial intelligence across facets of everyday life has been a theme for several years now, and shows no signs of slowing. As our day-to-day activities are made easier by things like virtual assistants and chatbots, AI has cemented itself as a pillar upon which countless future technologies can be built.
In light of this rapid proliferation, it should come as no surprise that artificial intelligence is beginning to take hold in the world of marketing, an industry that is witnessing a competition to see which brands are able to demonstrate the most complete understanding of customers to spark loyalty and build authentic bonds.
“In the last six to nine months, we would say artificial intelligence is really breaking into the mainstream,” said Varij Saurabh, director, product management at Manthan. “Customers are asking for more prescriptive technologies, and recently we’ve seen an uptick in these same clients looking for implementations that assist them in making the most effective possible decisions around the data they already have.”
There’s certainly no shortage of data available to brands today, but most find challenges in trying to organize this stream of information and sift through to find actionable insight. With AI, the process is substantially streamlined, saving companies both time and resources.
“Rather than an analyst spending a week going through the data looking for these ‘nuggets of wisdom’, these systems are now being expected to automatically surface these insights in real time,” said Saurabh.
Manthan has recently launched the first conversation agent for business analytics that enables one to get data driven insights into their business instantly by just asking. Users want the ability to interact with a system and obtain the needed information.
Additionally, customers today demand a higher level of personalization and expect marketers to recommend the right products / brands and the best offers at the right time. as well. Where several years ago it was enough for the customer to simply receive communications from a company, now they expect brands to know their preferences and interests.
One challenge that has come about as a side effect of today’s shopping habits is customer identification across multiple channels. Gaining a complete view of the customer is only possible through cross-channel identification, and Saurabh sees AI as a solution to this direct marketing puzzle. Using “offline data” from things like POS systems and in-store beacons, the company hopes to feed personalization back through the channels in which customers are already engaging. Through the implementation of artificial intelligence, Manthan is that much closer to cracking the code of data-driven personalization.
Loyalty360 will host a webinar, “How Can AI Help Marketers Solve Customer Insight Challenges,” on Friday, June 2, 2017, at noon EDT, which will be presented by Manthan.
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