How AI – Artificial Intelligence and machine learning gives back time? It’s not a secret that AI is here and coming much faster than many other technology booms. Some are saying we’re in the 3rd wave of computing. In our previous post 3 Ways Video Recommendation Drives Video Lifetime Value we talk about how machine learning is transforming finding and recommending videos to enhance consumer experience. For me, I’m just excited to be part of the machine learning business and creating powerful products focused on improving the digital video experience. I was recently commissioned to put together a short video and deck on how Artificial Intelligence is transforming the device-based experience for consumers. As part of this project the brands we’re looking to understand the different ways AI is going to potentially impact their business. Here were the main topic areas.
- How do you stay ahead of where AI is headed?
- How should AI be leveraged to enhance brand trust, improve engagement and help consumers get jobs to be done in a way that is valued by consumers?
- How can AI be employed to create better personal performance for individuals?
The presentation was to top brands like Scripps Network, Hertz, Bacardi, Planet Fitness, Arizona State University and DX Marketing.
Hi I’m Chase McMichael CEO and co-founder of infiniGraph. InfiniGraph focuses on increasing video lifetime value for video publishers and broadcasters and we do that through processing vast amounts of their video data and understanding what visual in the video engage consumers. By measuring what image or video clips are most engaging within certain scenes we’re able to increase video consumption showing the right images or clips to excite the consumer. Here’s a great example of a video clip that we extracted out of a video for CBS. By putting this specific clip in front of the right person at the right time we’re able to dramatically increase video take rates as produce a better consumer experience.
I was asked to talk about machine learning / artificial intelligence and how it would affect brands and improve consumer experience around devices. One of the exciting things about artificial intelligence primarily in my point of view is AI will give back time to individuals. AI is about making smart decision for them or providing insights proactively.
So how should AI be leverage to increase brand trust, engagement and help consumers?First off brand trust, brand trust is about anticipating your consumers, being able to be very proactive when they interface with you. It’s important to actually recognize them and provide them with incredible value and service. This is something that all brands have struggled with. Its not you know someone comes into a retail establishment or comes online but laking responsive is lost opportunity. A big opportunity is personalization. The ability to personalize ones experience is a big deal right now. Companies are really utilizing their data in some smart ways especially in the retail segment we’re seeing this with Amazon and a lot of the movie companies like Netflix trying to customize the experience for their audience.
The other thing that we’re seeing around brand trust is the ability to really not only be intuitive and responsive but proactive. Being proactive requires a much higher level of intelligence around your data. Taking that data to the next level of insights where you’re really thinking is AI. The key is anticipation like what does that consumer going to buy or how are they going to respond? When they purchase a product being more proactive creates an incredible experience. Again brand trust is easy to lose. Brands spend many many decades or a hundred years on creating trust and all of a sudden something happens and the internet revolts. They become completely eviscerated.
Its critical brands are responsive to what’s happening across the social web and monitoring intelligently. How you interface with your consumers across mobile, social or over cloud application all requires intelligence.
Don Peppers back in their late 90s was doing what’s called one-to-one marketing and this is really the onset of personalized experience. If you’re going to enhance consumer engagement you really have to put in front of that consumer something that visually and cognitively gets them excited. Are you creating an emotional response? Without emotion people do not recall information so if you don’t make an emotional response with someone the ability for them especially in this distracted economy to engage approaches zero.
Getting consumer to recall is very difficult so good service is expected the reality is people want to be wowed and that’s really comes down to how well your consumer touch points are response and intuitive. Do you know about the individual interacting with you on a day to day or month to month or year to year basis? A core component to any company is understanding your consumers and their individual behavior. A customer interacts with your brand do you have the ability to recommend or provide insights that helps and again give them back time? If not you’re really have done them a disservice. Your interface has to be fluid or you create drudgery.
Improving engagement is the big win with artificial intelligence. System designed to predict and be intuitive through giving back time will lead their industry. The core components that any enterprise must think about is how their enterprises is going to re-engineer around consumer data as well as capturing data to drive an active feedback loop. This feedback mechanism between the consumers and that touch point will be the foundation of an AI system.
Help consumers and creating a frictionless environment will win your consumer over. Driving proactive actions that actually work. The other question you have to ask yourself is how are you utilizing that information to create a very robust profile so that you’re actually having a conversation with your customer.
You actually know a lot about their history and you know a lot about what was successful. Start engaging with you consumer by understanding their product usage and leverage that to information to improve the experience. From an AI perspective, now you have a system out there mining data to surface functional clusters of information both visually maybe vocally as well as across just standard data sets.
Think big here because we’re now in such a connected community in society that with a push of a button I can share a picture with thousands of people and then the whole conversation spurts up around maybe your product being both positive and negative sense. How are you inserting yourself in that conversation proactively is very important.
How do you physically help a consumer really comes down to can you be intuitive on their needs. Think about personal data assistant or personal AI assistance. Personal assistants are going to be very intuitive very smart and crawl lots of different data sources. These AI assistance are proactively telling you to do thing to simplify your life. An example is let them go out and find this information for you. These types of digital assistants are gonna be extremely important in people’s lives because now things that they had to spend their mental time on they will be spending more time on more higher cognitive thinking than the mundane check off tasks that we do today.
If a brand is able to give time back to there consumer creating an intuitive and very frictionless experience will be the go to experience. Now your brand will dominant with that customer because they’re going to create not only the loyalty clearly but creating engagement through helping that consumer.
Another areas that is creating lots of buzz is artificial intelligence taking over jobs. Clearly you as a big industry or brand don’t want to become the job killer in the industry and that’s a big issue for executives thinking about implementing intelligent automation. Everyone is reading everywhere that the robots are going to take over the world the reality is how are you augmenting your staff. What can you do to enable your staff to be more intelligent utilizing internal resources to be more efficient and effective when they interface with consumers.
The real crux in this whole equation is how to enhance that experience with consumers and be able to empower my employees to be smarter and faster while creating a symbiant relationship.
Another thing around artificial intelligence is you really need to be thinking not in quarters but in decades. The companies that have really focused on digital transformation and utilizing data intelligence to transform their business will be the disruptors. Are you going to be the leader, because those that have executed AI in their business will have the speed and ability to adapt enabling them to trump anything that comes to the table. Think AI first.
A picture is worth a thousand words so in my business videos are worth tens of thousands of words and for us we’re wanting to find that unique image or video clip within a video segment or even a long video formats that really gets consumers excited and gets them engaged. This visual intelligence is critical in my business and very important for many brands. Using visual intelligence especially in video for marketing is an incredible opportunity. What you put in front of your consumers and can learn from that engagement around those visual properties within the actual images themselves is insight. The ability to adjust video is a competitive advantage creating a higher order of thinking where you’re giving a machine the ability to transform content in real-time. That’s that artificial intelligence we talked about previously so really being able to think about how do I take my brand in my industry and start thinking about all the data that’s coming in.
Its all about data in and quality and consumer engagement out.