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Effective Use of AI in Marketing Webinar Q&A

ASD Q&A Discussed 230625

1. Will AI replace me one day?

Pradeep & Moheth : The reality is AI is more likely to augment your capabilities rather than replace you entirely. AI excels at automating repetitive tasks, analyzing vast datasets, and generating content quickly. However, it still lacks the critical thinking, emotional intelligence, and creative spark that humans bring to the table. You can no longer adopt a crawl, walk and run approach with AI, but run to keep pace with the AI developments.

The future of work is about humans and AI collaborating, leveraging AU for efficient and effectiveness.

2. AI systems pose challenges in terms of how they process or store personal data without the proper permissions, especially in the banking space. How can banking thrive and adopt AI to maximize its marketing revenue?

Moheth : Data privacy is paramount, especially in banking. To thrive, banks must prioritize ethical AI practices and robust data governance. This includes:

  • Transparency: Clearly communicate how AI is used and what data is collected.

  • Consent: Obtain explicit consent for data processing and personalization.

  • Security: Implement strong data encryption and access controls.

  • Compliance: Adhere to regulations like GDPR and CCPA.

By building trust through responsible AI, banks can unlock the full potential of AI-driven marketing while safeguarding customer privacy.

3. Can you please give some insights on data privacy while using AI?

Moheth : Data privacy in AI hinges on a few key principles:

  • Minimize Data Collection: Only collect data that is absolutely necessary for the AI application.

  • Anonymization & Pseudonymization: De-identify data whenever possible to protect individual privacy.

  • Purpose Limitation: Use data only for the specific purpose for which it was collected.

  • Transparency & Explainability: Be clear about how AI is using data and provide explanations for AI-driven decisions.

  • Regular Audits: Conduct regular audits to ensure compliance with data privacy regulations.

4. How are we utilizing AI in our new customer engagement, where we don’t have any historical data to reference?

Pradeep: Starting without historical data is a common challenge. Here are a few strategies:

  • Zero-Party Data: Focus on collecting data directly from customers through surveys, quizzes, and preference centers.

  • Contextual Personalization: Use real-time data like location, device, and browsing behavior to personalize experiences.

  • Lookalike Modeling: Leverage third-party data to identify patterns and create lookalike audiences.

  • A/B Testing: Run experiments to test different messaging and offers, and use AI to optimize based on early results.

5. Which AI tools have you found most effective for performance optimization in either B2C or B2B?

Pradeep & Moheth : The best AI tools depend on your specific goals, but here are a few standouts:

  • B2C:

Recommendation Engines (e.g., Dynamic Yield, Optimove): For personalized product suggestions and offers.

Programmatic Advertising Platforms (e.g., The Trade Desk): For AI-driven ad buying and optimization.

  • B2B:

Predictive Analytics Platforms (e.g., 6sense, MadKudu): For identifying high potential leads and accounts.

Conversational AI (e.g., Drift, Intercom): For lead qualification and customer support.

6. Which is the best marketing product out of all incumbent best for AI?

Pradeep & Moheth : There’s no single “best” incumbent marketing product for AI, as it depends on your specific needs and priorities. However, some of the leading platforms with strong AI capabilities include:

  • Salesforce Marketing Cloud: Offers AI-powered features like Einstein for personalization, predictive analytics, and automation.

  • Adobe Marketing Cloud: Provides AI-driven capabilities through Adobe Sensei for content optimization, audience segmentation, and customer journey management.

  • Braze: Includes AI-powered features for personalization, marketing automation, and customer data management.

It’s essential to evaluate your specific requirements and conduct a thorough assessment of each platform’s AI capabilities to determine the best fit for your organization.

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