AI in Marketing is taking off in a big way.
At the recent Microsoft and PaulWriter event in Mumbai “Will AI Fuel Marketing Strategies for CMOs”, there were some extremely enterprising Indian entrepreneurs (Microsoft Partners) showcasing their products and the business challenge they are solving with AI.
AI brings amazing possibilities in enhancing marketing at scale
For instance I’ve been exploring how it can be used in predictive analytics for lead management.
Identifying, the leads which the sales guys should focus on depending on the probability of conversion.
This is particularly relevant in industries where the volume of leads are high and there are few sales team resources to followup with them.
Machine learning an aspect of AI can help here in studying historical conversion data and identifying prospects who are more likely to convert.
We’ve seen the accuracy of such tools increasing dramatically.
Key Indian startups leveraging AI
All the companies featured during this event, leveraged AI. Whether it was a chat bot which intelligently looked up data in your systems and provided more realistic conversations beyond just acting like an IVR system.
Consider FirstHive one of the firms showcased, which created unique customer identities and provided an advanced machine learning based predictive algorithm to optimize your marketing.
For instance reducing the wastage due to re-targeting wrong customers, or targeting the correct customer with the correct communication depending on the stage in the customer journey.
Additionally, having a single view of your customers across various points in the consumer journey – Social, Web, Email etc. Providing that unified view of the customer or prospect.
Or consider another key challenge. DATA, or too much of data.
Most organisations have huge volumes of data within them.
However, finding the correct data, i.e. data which is relevant today, not old data, and which is applicable in this communication with a particular client can be a nightmare.
Here’s where large corporate plans go awry.
Content driven by AI
WittyParrot gives you instant access to data and content on the desktop. Their key promise being You don’t have to FIND and DIG for files and then attach them.
This is where AI shines, as it doesn’t tire and depending on customer, and context it can go through volumes of information and provide you the the most updated and correct data at the correct time.
This is immensely useful especially in regulated industries or large organisations, where you want to ensure consistency in the way in which information is communicated by all your people. It helps your company speak with one voice.
AI Powered Bots
Talking about one voice – you want to provide a replacement to the normal queries handled by say your support staff and that’s where AI powered Bots come to play.
NLPBOTS showcased how to integrate with your online product or service; web, intranet or mobile, to give your users an always available help feature via an intelligent chat-bot interface.
The potential saving on operational costs of support centres can be huge. It can also save on time for feedback, product review cycles and new development cycles.
Scale with AI
Lastly, when you want to scale your marketing efforts, this Indian platform provider with 50 Thousand+ clients was at another scale itself.
ShepHertz enables a digital transformation. With over a billion+ calls made to it’s API’s this platform is on a different scale altogether.
It has numerous products and services covering a large spectrum of use case, from push notifications, recommendation service, user management, reward management and email over 800 APIs and 25+ modules and SDK’s allows organizations wanting to build their own apps and services all with actionable analytics embedded within.
AI to solve business problems – Microsoft
Microsoft shared briefly about their cognitive services, these have matured considerably,
Covering Vision, Knowledge, Language, Speech and Search.
For instance their Vision Service contains within it an Emotion API, allowing you to personalise user experiences with emotion recognition.
Each of us attending this closed door event, took a lot from the event organised by PaulWriter and Microsoft India.
Artificial Intelligence Marketing in India is taking off in a big way. Indian CMOs have no option but leverage AI.
P.s. You might find this page where I’ve been collating a list of resources (Research, Articles, Tools etc.) on AI in Marketing useful.