5th Nov 2018CMO
As Artificial Intelligence, Virtual Reality and Augmented Reality have become recurring mantras in the marketing community which is scrambling to understand how they will disrupt our status quo, it is worthwhile stressing the powerful short-term potential of these advancements in process and technology.
Indeed, AI is bound to transform the way we extract value from data, to the benefit of both businesses and consumers, allowing us to move away from statistic modelling and a rule-based approach that has informed most of our marketing strategies in the past decade.
VR and AR will radically disrupt industries and the way we consume information and interact with our physical surroundings, in ways yet to be fully grasped as use cases are tested and technology pushed to its limits.
Yet, limits exist. The amount of data needed for AI to start producing quality outputs or the sheer technology power needed to create truly immersive VR experiences still represent a hard challenge that will require some time for Moore’s law to do its inexorable job.
Nevertheless, there are plenty of use cases that can be fully catered for by existing technologies and fuelled by data already available. More interestingly, these applications can actually augment the human connection, especially in the B2B ecosystem.
Think about the process of finding new office space. Usually a journey that starts in self-serve mode, browsing thousands of properties on the web. Then proceeding to one or multiple one to one interactions with agents to narrow choices down to a few shortlisted assets, to be eventually viewed before landing on the final, perfect one. A time-consuming process and one that make it difficult to capture opportunities in a fluid, ever-changing market.
What if you could effectively browse the entire stock available in the area of interest, sitting on a sofa and just using your natural body gestures to navigate through boroughs and then filter stock using combined layers of data? A process shortening the entire journey to just an hour, to be spent together with an expert consultant adding that competent touch to your search. The touch only someone knows you and your business best can provide.
These experiences are within reach, it is possible to build and run them today. The benefits are many, to quote a few:
More efficient processes that shorten the traditional time-to-completion exponentially, ultimately driving more business, tackling P&L targets both from the top and bottom line;
A more personal experience, where humans step in only to add specific value, where the intrinsic inefficiency is solved by machines;
A strong branding effect, positioning the business at the forefront of innovation, shaping change rather than merely adapting to it;
A springboard to future, more radical innovation, these smaller initiatives represent palatable pilots triggering quick funding, bringing immediate business results and fostering a climate open to more and broader change.
What are you waiting for? Always start from a customer problem. Then look at the data you already have and the key differentiators that your customers love. Work on a matrix, identifying sweetspots of shared alignment between technology and opportunity to deliver a new, unique experience that brings tangible business benefits.
Francesco Federico will be present at our CMO event in One Great George Street on November 15th 2018. To learn more, contact GB Intelligence on 01633 749520 or at email@example.com.
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