Most people don’t often stop to think about what goes on behind the scenes.
This is especially true in science and technology, where most are either not technically inclined, or simply not interested in the more technical aspects in modern life and society.
People just simply want things to ‘work’.
A little known fact is that Artificial Intelligence is behind an ever increasing amount of dayto-day tools we use.
When AI is mentioned, most tend to think of the more fantastic of its applications. Concepts such as self-driving cars and smart cities showcase both the societal
impact and ambitious heights of research and development in the 21st Century.
The truth is that AI is permeating more and more facets of life – especially in the digital realm.
Chat bots, smart maps, Alexa, Siri, Amazon, Google, Netflix, Uber – all common, dailyuse applications that use AI algorithms to improve both user experiences and back-end internal efficiencies.
Such applications intelligently approximate traditional notions of thought and decision making to increase efficacy and speed of operations without human input.
Capable of crunching massive data sets and equations in real
time, they can answer complex questions that human actors simply cannot do with efficiency.
Increasingly, almost everything will be eventually touched and reinvented with AI.
And business and marketing are of no exemption.
Customer relationship management software has become an integral part in maintaining customer and client accounts to reduce churn and increase profits and productivity.
Driven by AI, CRM identifies patterns of customer satisfaction or dissatisfaction and which ones need the most attention at any point in time.
It can also forecast sales data across markets, and more effectively manage stock, staffing levels and other internal resources.
AI presents a unique ability to predict future trends and model scenarios upon which to base important decisions.
In business and marketing applications, AI can hasten the learning process for a target audience and automate decision making at every stop.
This creates the knowledge that increases efficiency and performance to guide commercially based decisions with more detailed, quantifiable data to improve operational KPIs.
With Foresense Technologies, this is taken to a whole new level by applying digital frameworks and AI to real world, physical spaces. Better, more targeted markets When the traditional advertising methods of TV, newspaper and radio reigned supreme – the marketing waste was truly massive.
With potential audiences running into the millions, advertisers had to pay accordingly to get their
messages across; they had to pay according to total potential audiences, rather than actual potential customers.
To reach a few hundred or even a few thousand people who actually (a) had any interest whatsoever in the product being advertised and (b) were actually looking to purchase the said product, tens or even hundreds of thousands of people were also exposed who were simply not going to purchase now – or ever.
In the age of the internet, user data is easily collected from behaviour and actions. The genres of web-content consumed. How long spent on different types of websites. How often a user returns – if at all – to a particular site.
With powerful AI algorithms, personal data such as age, sex, ethnicity, location, affluence can be intuitively deduced from what, how and where and when a person accesses content online.