If you grew up on sci-fi movies like Terminator or Space Odyssey, you’ll probably have more than a few reservations when it comes to AI (Artificial Intelligence) being involved in any aspect of our lives, but we’re here to tell you that you have nothing to worry about, and AI truly does help improve any task it is correctly coupled with. If you don’t believe us, believe this PwC study that says 72% of business execs agree that AI will be a huge advantage for businesses in the future, and that consumers are fast preferring AI over human attention when it comes to businesses, because the interactions are more effective, save time and are generally less frustrating. But let’s look further into AI to better understand it.
To start off, let us explain the advantages of emotional AI:
1. Big Data
Big Data as many of you may already know is the compilation of information on a person that can be used to better target ads in relation to that consumer. This is compiled manually by a marketer, who goes through a person’s online presence, gathering basic information like: Name, Age, Gender, Legal Status etc. to more intuitive information like: categorizing their posts, likes and dislikes, How they talk, their cookies, their posts etc.
Recently, AI and Big Data are being coupled together by companies like Near, which recently wrapped up a funding round where the company got $100 million to develop technology that gathers mobility-based behavioral data from more than 1.6 billion devices around the world. The company’s technology includes tools that can tell users how often people from a certain demographic visit stores and when, or how far they traveled to get there.
Basically, with the help of AI, Big Data is turned into “Extremely relevant data”
2. Machine Learning
In the interest of sparing everyone the math and science involved in Machine learning algorithms, we will try our best to simplify it. Machine learning is a subset of AI, meaning that all machine learning is AI but not all AI is machine learning. Machine learning is dynamic, and does not require human interference to make changes in its program. This AI changes itself in accordance to the data that it is fed. It is an AI that grows and learns. In the marketing the uses of machine learning are numerous, the most important uses so far are: to enhance customer experience, create revenue streams, develop more products and services, content optimization, improve personalization, and chat bots. Read more on each of these uses and maybe one of them can improve your business as well.
3. Emotional analysis
This is the use of AI that is causing all the hubbub about machines rising and replacing humans in the pecking order. It is possible to develop AI to analyze emotions. Take the time to read this very interesting article discussing a recently developed emotional analysis AI, and the conundrum of whether people should use such technology. In short the article highlights a recently developed emotional AI called Realeyes that analyzed eye movements of people watching the John Lewis ad “The Boy and the Piano”. The AI gave the ad a numerical score based on the positivity of the emotions it invoked in viewers… ALL BASED ON THEIR EYE MOVEMENTS. The ability to analyze a potential customer’s emotional response though is just one of the uses of emotional AI, it can of course also be used to edit customer service, bot optimization and it can help better optimize any published content based on particular demographics.
If you read any of the above sources cited, you will already know that although emotional AI has a plethora of advantages, it also brings with it a gaggle of moral conundrums. People theorize that Ai can also be used for negative and invasive reasons. Like analyzing a person’s honesty when answering surveys or filling in online information. It can also be used to potentially track a persons movements and create very accurate maps of said movements. Mixed with big data, an AI can also provide very personal analysis of a person’s speech, posting habits, and online personality, that many consider an invasion of their person.
Divisive as AI is today however, it is widely being adopted by companies and businesses all over the world, and the marketing industry is fast becoming one of its natural habitats. Soon the conversation on AI will blow up, take this article as a first step to better learning about it, whether you are for using it, or not.