10 Things You Need to Know About Artificial Intelligence Now
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Putting the customer at “the heart of everything we do” has long been a stated aim for businesses. Now thanks to the revolution of artificial intelligence (AI), many industries are finally making it happen, and the financial services sector might be one of them that are doing the most to harness tools like machine learning and data analytics. Get Personal The financial services industry has been hit by the same digital trends disrupting other sectors, such as declining foot traffic to retail banks as customers shift to using apps and secure sites on their mobile devices. This has opened the door to new digital entrants that have seized market share from the incumbents. The shift has highlighted the importance of using technologies such as AI that enable financial institutions to place customers at the center. “We can really transform the customer experience with better use of technology,” says Harish Agarwal, Head of Marketing at Prudential Assurance Company Singapore. “We have been on this transformation journey in the past year, seeing the increased use of AI methods such as machine learning in delivering better end-to-end experience to our customers.” From analytics to personalization, customer service and real-time insights, the insurer sees
As many countries reopen their economies in the post-pandemic world, brands are learning to adjust to the new normal. Many of the consumer behaviors that have shifted due to the lockdown or stay-at-home order are here to stay, which is having huge repercussions for advertising. As people spend more time at home, even after reopening, their time spent online has increased significantly, whether it was reading news sites, watching movies or TV shows through streaming services, joining a virtual online exercise class, staying in touch through social media or messengers, or doing more online shopping. Shopping habits have changed, too. Consumers are now focused on limiting for waste, shopping more health-consciously and cost-efficiently, making more sustainable choices, according to Accenture. They are also more inclined to bulk buy and shop from local producers. These changing behaviors have speeded up the shift of ad budgets from TV to digital, even though the global ad spend has dropped considerably with a majority of brands expecting to cut down their ad dollars. So how should advertisers respond to this new landscape, and make the most of every ad dollar in their limited budget? Here are eight tips to upgrade your advertising strategy now.
It is a question facing every marketer – in today’s fast-moving world, how do you stay relevant? One of the most effective ways is to make sure you are acting on the latest data possible, in order to serve them up-to-date offers that meet their current needs. It is no good sending a coupon for a set of kitchen knives if your customer only showed a fleeting interest in them last week. With the help of real-time marketing automation, you can engage with your customers not only in a timely fashion, but also at scale. The Importance of Engaging Audiences in Real Time As with all data-driven marketing, the quality of your output depends on the quality of your data. If the data is inaccurate, it cannot help you market effectively. It needs to be representative of your customers’ current thoughts, actions and behaviors, in order to help you create marketing content that they find more relevant. Also, customers’ online behaviors and interests change rapidly, and there is no shortage of alternatives for them to choose from the internet, providing plenty of distraction. If they express an interest in a product or service, there is no guarantee that it will