In today’s fast-paced business world, AI has emerged as everyone’s favorite shiny new toy. It’s revolutionizing operations and driving unprecedented growth, helping organizations go further faster. It’s no wonder a recent CNBC survey demonstrates that a staggering 47 percent of companies have identified AI as their top priority for tech spending in the coming year.
At Amperity, AI isn’t new to us – it’s been a part of our DNA since our founding in 2016. Our first patent used AI to find a new way to solve the challenge of accurate customer identity in marketing.
Fast-forward to today, and we offer a full suite of AI capabilities called AmpAi, bringing together predictive modeling and our latest generative AI capabilities to deliver the data confidence brands need to unlock growth by genuinely knowing their customers.
What brands want from personalization is to build an intimate relationship with each and every customer. And AI is only accelerating this process.
But it’s not just about having AI, it’s about how you use it. As pioneers in the AI-driven CDP (customer data platform) space, we’ve learned that the real magic happens when AI is seamlessly integrated into every aspect of a company’s operations from marketing and sales to customer service and beyond.
This way, operations are streamlined, efficiency is boosted and pivotal insights that drive meaningful business outcomes are unlocked.
As we make our way through 2024, it’s become increasingly evident what’s working with AI – and what’s not. From AI-powered personalization driving exceptional customer experiences to debunking myths surrounding AI’s role in the workforce, let’s dive into what’s in and what’s out for AI in 2024.
What’s in
AI-powered personalization
Personalization is no longer a luxury – it’s a necessity in today’s competitive market landscape. McKinsey research shows that 71 percent of consumers expect companies to deliver personalized interactions, and 76 percent get frustrated when this doesn’t happen.
AI plays a critical role in personalization across various aspects of customer interactions. Gartner research demonstrates that more than half of marketers (55%) are leveraging generative AI tools for marketing material personalization. And nearly all marketers surveyed (98%) report significant or moderate improvements since the introduction of generative AI tools to their workflows.
In practical terms, we’re seeing AI being used to:
• De-duplicate customer profiles: De-duplicated customer profiles empower brands to have a unified view of their customers. This unified view can then be used to segment customers, generate personalized offers and messaging and provide tailored customer service.
• Personalize recommendations, imagery or upsell offers: AI can automate this process, enhancing customer experiences and boosting engagement.
• Automate and answer frequent customer service questions: AI-driven systems handle common queries, freeing up human agents for more complex issues and improving response times.
• Provide contact center agents with recommended actions: These actions enhance efficiency and boost the customer experience.
At the end of the day, what brands want from personalization is to build an intimate relationship with each and every customer. And AI is only accelerating this process.
Late last year, during a conversation with a newly signed customer, I was taken aback when they bluntly stated, “All CDPs are liars.” Reflecting on lawsuits and public falsehoods within the industry, I reluctantly agreed. This customer had diligently verified vendors’ claims by testing their software, revealing widespread deception in the process. I commended their thoroughness, wishing others followed suit.
Recently, another industry contact shared a similar tale of catching their vendor in a lie thanks to AI-powered recording and transcription tools. With a video recording as evidence, they could pinpoint the exact moment of deception. Although they had already engaged with the vendor, the revelation tarnished their trust and likely soured their long-term relationship.
The increasing prevalence of AI-driven recording tools suggests that honesty may become a norm in the sales process. This shift will benefit both customers and truthful vendors. Imagine if every word spoken during sales discussions could be easily referenced later. Surely, it would prompt greater caution in communication – a prudent approach for many in the industry.
AI to empower non-technical teams
We’re on the verge of a significant shift in how brands handle their customer data. The complexity of data queries and segment creation has been a persistent obstacle, consuming valuable time that could be better utilized for strategic initiatives.
With generative AI, all users can essentially become data scientists, democratizing data usage and ensuring that customer insights are accessible throughout the organization.
More than saving time, this shift is about empowering every team member to drive value and make well-informed decisions based on reliable data.
With generative AI, all users can essentially become data scientists, democratizing data usage and ensuring that customer insights are accessible throughout the organization.
One of our customers, Hope Vlacich, Manager of Audiences and Digital Marketing Analytics at Wyndham Hotels and Resorts, is seeing tremendous gains with our latest AI Assistant, which removes the barriers to creating SQL (structured query language, a type of programming language) queries and fixing potential errors within those queries.
“AI Assistant saves me seven to eight hours of work per week,” she says. “Instead of crafting SQL from scratch or searching for SQL to reuse, I turn to AI Assistant. It has been such a lifesaver.”
By leveraging AI tools, non-technical professionals can overcome barriers traditionally associated with data analysis and content creation. This technology is empowering them to focus on driving innovation and delivering exceptional customer experiences.
What’s out
AI for the sake of AI
First things first, AI is only as good as the data it’s learning from, and only as useful as the decision-making power that it’s given. So while the allure of AI has captivated businesses across industries, the indiscriminate adoption of AI solutions solely for the sake of technological advancement is a misguided approach. Merely implementing AI without a clear strategy or purpose undermines its potential to drive meaningful outcomes.
Today’s consumers are savvy. They expect AI to enhance their experiences and provide personalized value. Consequently, companies must shift away from superficial AI integration and prioritize initiatives that deliver tangible benefits and foster genuine connections with their audience.
In the era of data-driven decision-making, the focus is not on the technology itself but on its ability to empower businesses to make informed choices and optimize customer interactions.
Siloed AI initiatives
Siloed data is not healthy data. It creates barriers to information sharing and collaboration across departments. Inconsistencies in data across silos can cause data quality to suffer. You simply cannot have a holistic view of your customers.
In a world where the same generative AI tools for activation are available to everyone, the data you feed into your generative AI systems will be a key competitive differentiator, since it determines the quality of the output. In short, it’s not enough to have AI tools at the last mile – it needs to be part of your approach from the first step.
Companies must shift away from superficial AI integration and prioritize initiatives that deliver tangible benefits and foster genuine connections with their audience.
To thrive in this dynamic environment, organizations must prioritize breaking down data silos and fostering a culture of collaboration and data integrity. By centralizing data management processes and investing in robust data governance frameworks, they can ensure that their AI initiatives are built on a foundation of high-quality, reliable data.
This proactive approach not only mitigates risks associated with data fragmentation but also sets the stage for unlocking the full potential of AI-driven insights and innovations.
AI is going to take my job
While it’s true that AI, including generative AI, is revolutionizing many industries, including marketing, it’s unlikely to completely replace human creativity and intuition.
Instead, AI serves as a powerful tool to augment human capabilities, providing valuable insights and streamlining processes. By leveraging generative AI to understand customer behaviors and preferences, businesses can enhance their marketing strategies and deliver more personalized experiences.
However, the true differentiator lies in how companies creatively interpret and apply these insights to build authentic connections with their audience. In a landscape where everyone has access to similar AI technologies, the human touch becomes even more critical in crafting unique and compelling brand messages that resonate with consumers.
So while AI may change the nature of certain tasks, it ultimately empowers humans to focus on higher-level creative tasks and strategic decision-making.
