In so many ways, artificial intelligence (AI) is helping both Fortune 500 companies and tiny start-ups improve their engagement with people and optimize their consumer processes to grow their brand and increase their chances of success.
Marketers can no longer afford to be ignorant about AI. They can no longer reject AI simply because they don’t yet understand it or they don’t know how to incorporate it into their strategic marketing plans. Marketers also don’t need to become experts in AI. If they want to continue to be relevant to consumers, marketers simply need to understand the role that AI plays in consumers’ lives. Companies are already using AI to disrupt a broad range of businesses. The question is whether the established players will take proactive steps to ensure that disruption doesn’t happen to them.
The long-term path to success with consumer products and services that rely on AI, including chatbots, voice assistants, beacons, RFID devices, facial recognition, and robots, requires marketers to make two critical decisions. First, marketers must decide who to win with. Success will be maximized by targeting and winning with Early Adopters, those consumers and customers who will ultimately set the stage for Laggards to become adopters of AI applications themselves.
Second, marketers must decide how to win with artificial intelligence. After exploring the consumer-facing AI landscape to identify tangible examples of brands exhibiting key success traits, we conducted our second annual proprietary AI study. This primary research among 1000 adults in Canada helped us to understand their opinions and uses of artificial intelligence, and resulted in the creation of our Triple Win framework. In essence, marketers must approach the integration of AI into their brand processes and applications through what we call the “Triple Win” framework – every AI product or service must have utility, and also embed privacy/security, and trust.