Pick any Fortune 500 company and chances are, they’re investing in AI. Recommendation systems, personalized shopping, copy generated by natural language processing, in general AI’s ability to deal with Big Data (all that information your phone is saving about you) is changing the customer experience. AI is revolutionizing personalization, bringing in record profits, while making advertising cheaper and more effective. Here’s how:
Customers now have access to 24/7 intelligent customer support in the form of virtual chatbots. Relying on unhelpful cold robotic voices for virtual customer support is over, new natural language processing allows the chatbots to help in a human way. AI has gotten so good that most customers cannot even tell the difference between AI and human customer support. AI is so fast and inexpensive that companies can even use it to work with customers before there is an issue, to anticipate customer needs and guide them through the perfect customer experience.
Businesses can save a lot of money on advertising by using AI to craft the perfect ad for each individual customer. Advertising on social media in particular can both be used to make sales and collect data on potential new consumers that view the ads, such as how much time they linger on a particular image or video. AI is able to sift through the advertising data collected by social media and search engines to anticipate consumers' desires and present the most enticing ads. Precisely targeted advertisements have a far superior click rate, therefore companies can generate more effective ads at lower cost using AI. Businesses can also use apps like Ghostwrite to generate AI copy for advertising or write email marketing campaigns.
Personalized Shopping Experience
Every online retailer is now obsessed with delivering the “perfect customer experience” but what does that mean? An individual's buying experience can be greatly improved and influenced by what is being suggested to them on the site using consumer psychology and data analyzed by AI. With the right AI, a company can drive sales in ways we’ve never seen before. Using prediction models based on data gathered on a particular customer's buying habits, the AI can recommend products that the consumer is most likely to buy. Gone are the days of endlessly scrolling through online inventories, now customers expect to be guided through their buying experience by the retailer.