It’s no secret that technology has helped brands interact with their customers. From smartphones to live video, there are a number of ways to reach consumers. A trend that’s been building in popularity for years is artificial intelligence. Recent examples of successful AI include Amazon Echo, with its ability to recognise specific words and make suggestions. Despite the potential of AI, a report has suggested that the majority of brands aren’t investing in it.
According to the report, 82% of retailers believe that AI will have an impact on the e-commerce sector. But only 48% are using it in their business. So, how are brands using AI, and how can it benefit your business?
Who is using AI?
Starbucks has taken advantage of AI by introducing the My Starbucks Barista app that allows users to place their orders by talking to a virtual barista. The app then connects the order to a nearby store and the user is able to pick up their drink. More recently, Starbucks have used AI to make changes to its reward program. Based on specific algorithms, the reward program tracks the amount of money a customer spends as well as the number of visits.
Another example of a brand using algorithms is Spotify. They developed the Discover Weekly feature that creates customised playlists based on a listener’s history. The algorithms help Spotify to learn and grow based on what people are listening to.
How can AI benefit your brand?
AI can benefit your brand by offering virtual assistance to an entire network of customers. For example, chatbots can be used via social media to help with any queries a consumer might have. The chatbot can be interacted with at any time of the day, making it a convenient option. As customer management is a crucial part of any business, this option helps to deal with more than one person.
By developing AI algorithms, your business can collect essential customer data. AI is good at processing billions of data points in a matter of minutes. Based on the data that’s collected, brands can improve how they interact with customers. An added benefit is that AI constantly adapts and learns.
AI can also be used to improve system automation. Human staff can be moved to other work areas, while AI concentrates on menial tasks like data collection. This saves time and energy, streamlining the business.
The future of AI
As we become more reliant on technology, AI will play a big part in how brands interact with customers. But we’re still years away from making the most of its full potential. As useful as AI can be, a human approach is the best way to approach people.