According to research, investment in Artificial Intelligence is set to triple in 2017 as brands and businesses across the globe are striving to get in on the action of the ‘Internet of Things’ (IoT).
They’re certainly the buzzwords of today, but what exactly is the Internet of things (IoT)? How does AI come into play? And what impact do they have on brands and businesses?
Put as simply as possible, IoT is about connecting physical objects and smart devices such as vehicles, items in the home, phones, software and sensors.
The devices are embedded with electronics and there’s a network of connectivity which means the objects can interact, share, exchange and collect data.
AI, on the other hand, is more about computer science and developing systems that can perform intelligent tasks like speech recognition, decision making, language translation, and more.
It aims to replicate the human brain and leads to such innovations as the self-driving car or a cleaning robot.
How does this benefit customers and your relationship with them?
It all comes down to customer satisfaction and the ability to create user experiences beyond people’s expectations. The IoT and AI have the potential to take brands to another level when it comes to engaging with consumers and satisfying their needs.
It’s perhaps ironic that Artificial Intelligence and interconnected devices are able to improve customer relations, but it really does seem that the automation and technological advances can instigate a more personal touch.
Having said this, the onus is definitely on those brands that are utilising AI and the IoT to gather more and more insights. The result of incorporating Big Data is that companies need to process and act on it; in order to continually improve and create more meaningful experiences for their customers.
According to recent research, “consumers will manage 85% of relationships with an enterprise without interacting with a human”. From webchat to Amazon Echo the human touch is becoming more and more pushed out of the equation and yet the ultimate aim is to customise experiences for consumers, and personalise user experiences more than ever.
It’s all about nurturing relationships with your customers and with Big Data you can personalise campaigns, ads and landing pages to give customers the information they need before they even ask for it and fix any problems before they even arise.
Hotcow is a non-traditional creative agency that specialises in experiential marketing that goes viral. Our campaigns generate buzz through crowd participation, PR and content sharing. Contact us on 0207 5030442 or email us on firstname.lastname@example.org.