Article | February 19, 2020
The use of Python is catching up to Java in banking and fintech applications, but what are the reasons behind the emergence of Python? While three million developers have joined the Java community in the past year, in the banking sector, Python is fast closing in on Java’s position in top spot. Python’s backstory in banking Across all sectors, Python has reached seven million active developers fuelled in part by a staggering 62% of machine learning developers and data scientists who now use the programming language.
Article | February 19, 2020
If you ask how Jeff Bezos is one of the most successful entrepreneurs today, you receive a good deal of answers. nd one of those answers is that he initiated innovation in marketing. He implemented marketing and strategized it in a way that they have become the new rules for successful marketing. He utilized marketing techniques from word of mouth and advertisements to a technology like AI. If Alexa knows that you ordered 10kg of flour last month and have a family of four, the device will remind you to reorder it before you are out of flour.
Thanks to AI, marketing has become simpler with predictive analysis. And, with the merging of IoT, automation, AI, and machine learning, marketing has become more personalized.
The traditional ways of marketing are still in practice, but AI is sure to revolutionize the marketing industry, shorten the sales cycle, and broaden the pipeline. With these new trends in marketing automation, let us see how you can implement AI marketing to boost your sales.
Understanding AI Marketing Methods
Before implementing AI marketing, you need to understand your target audience and the market. Once you have a thorough knowledge of what you offer and what your customers need, your marketing solutions can be designed accordingly.
As a seller, you may think of AI as abstract. But the amount of data that you have is the best source of solution for your marketing. Once you have digitalized your business, implementing automation and AI becomes an effortless task. All you have to do is apply the right software, advertise on the proper mediums and keep your business active on the customer feed.
Those above may sound complicated, but you do not have to worry about the technical part. You need to provide the correct data, and the machines are at your disposal.
Here are a few components of AI marketing platforms that have impacted and will impact marketing for years to come. Once you have an idea of them, you will know how your sales graph will rise with data-driven technologies combined with automation.
Components of AI in Marketing
Deep learning allows you to understand how a customer thinks, purchases, decides and reacts to a shopping process. Deep learning lets a machine simplify data complexity and make the best use of the available data.
Deep learning not only predicts the customer’s behavior but also predicts product marketing. It helps you analyze your product selling options based on seasons, holidays, consumer behaviors, sales, competition, and a lot more. It also advertises your businesses on consumer behavior patterns. Deep learning helps you target the market on a trial basis with minimum investment. This assists you in taking risks and calculating them.
Automation marketing has taken customer experience to another level. You can use any suitable software for e-mail marketing, social media marketing, and ad campaigns.
Marketing automation helps to personalize the customer experience. For example, you can target your customers by sending them birthday, anniversary coupons, creative reminder mails, or simple content about your new services or products. These small gestures guarantee 50% more sales at almost 33% lower costs.
AI with automation marketing includes lead generation, marketing campaigns, data analytics, data reporting, predictive analysis, etc. Thus, incorporating marketing automation in any size of business promises a host of benefits.
Machine learning helps you to design suitable content for the target audience. Implementation of machine learning provides 57% more enhanced customer experience than any other marketing technique.
The best example of machine learning is AWS (Amazon Web Services) which is available for everyone to customize the services according to the customer’s demands. The combination of AI and machine learning is 100% successful in optimizing data and content. As a result, it assures 44% customer retention.
Thus implement AI marketing tools to have a loyal customer base. To start with, incorporate chatbots into your websites and revolutionize your customer experience.
The Game Has Changed.
Businesses have already started including marketing automation techniques. As a result, most of them have seen their sales graph soar with the correct practices.
Some of the benefits of marketing automation are:
Enhanced customer experience
Profitable marketing efforts
The bottom line is that the future of artificial intelligence in marketing is a promising one. It has already transformed the marketing world, and the results are inevitably positive. Thus, implementing the above AI marketing techniques is essential for the sustainable future of every business.
Frequently Asked Questions
How can AI be used in marketing?
AI is used in marketing by incorporating automation software. This software interacts with customers in real-time and can communicate seamlessly. The best example is chatbots. AI studies data, processes it and uses it to provide a personalized experience to the customers.
How is AI reshaping marketing?
AI studies each customer individually. Then, according to their behavior and shopping patterns, it provides them suggestions. As a result, it enhances the customer experience. And when the customer feels connected to the brand, they are bound to return. Thus, the incorporation of AI in marketing brings out the best customer retention.
How does AI impacts digital marketing?
AI marketing uses predictive analysis and provides a personalized customer experience. As a result, they help target the right audience and create successful campaigns which ensure guaranteed ROI with minimum investment.
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"text": "AI is used in marketing by incorporating automation software. This software interacts with customers in real-time and can communicate seamlessly. The best example is chatbots. AI studies data, processes it and uses it to provide a personalized experience to the customers."
"name": "How is AI reshaping marketing?",
"text": "AI studies each customer individually. Then, according to their behavior and shopping patterns, it provides them suggestions. As a result, it enhances the customer experience. And when the customer feels connected to the brand, they are bound to return. Thus, the incorporation of AI in marketing brings out the best customer retention."
"name": "How does AI impacts digital marketing?",
"text": "AI marketing uses predictive analysis and provides a personalized customer experience. As a result, they help target the right audience and create successful campaigns which ensure guaranteed ROI with minimum investment."
Article | February 19, 2020
Artificial Intelligence is empowering business leaders to make better, data-driven, and insightful decisions. It has undergone several evolutions since it burst into the business scene in the 1950s, to the point where several thinkers have already painted a machine that replaces human scenarios for the future. Our view on the future of work has evolved into a zero-sum game, where the result is an either-or.
In my opinion, the view that AI will play a dominant role in the workplace is a little extreme. The fundamental assumption around AI replacing human workers is that humans and machines have the same characteristic. Totally untrue!. AI-based systems may be fast, consistently accurate, and rational, but they are not intuitive, emotional or culturally sensitive. Humans possess these qualities in abundance, and it is one of the reasons why we continue to surprise the world with our advancements.
Intuition is the Mother of Innovation
If we are living comfortable lives today, it’s because some business leaders chose their gut feeling over data analytics on numerous occasions. Some historical examples have been:
1: Henry Ford, facing falling demand for his cars and high worker turnover in 1914, doubled his employees’ wages, and it paid off.
2: Bill Allen was the CEO of Boeing in the 1950s, a company that manufactured planes for the defence industry. One day, he woke up to the idea of building commercial jets for a sector that was non-existent – civilian air travel. Allen convinced his board to risk $16 million on a new transcontinental airliner, the 707. The move transformed Boeing and air travel.
3: Travis Kalanick faced serious pushback when Uber instituted surge pricing. His move seemed to anger and alienate everyone. Travis stayed the course, and Uber modified its surge policy whenever appropriate. Now, dynamic pricing is an accepted aspect of this business and many others.
So the question is, should a competent professional trust their gut feeling or make data-driven decisions?
DATA V/S GUT
Top professionals have repeatedly confirmed that gut feeling is one of the main reasons for their success. Leadership often gets associated with quick responses in unprecedented situations and lateral thinking. Experienced leaders are not only fearless about their instincts but are also proficient at making others feel confident in their judgment. Also, going with our instinct can help us make decisions quickly and more accurately since we tend to make choices based on experiences, values, and compassion. Malcolm Gladwell calls this ‘thin slicing’ in his book, “Blink”. Thin-slicing is a cognitive manoeuvre that involves taking a narrow slice of data, what you see at a glance, and letting your intuition do the work for you. However, he does warn that some decisions are exempt from this rule; it only applies to areas where you already have significant expertise.
Artificial Intelligence and machine learning can support leaders to see complex patterns that can lead to new understanding in this fast-moving, digital era. The contention is that ‘human gut’ feeling can go hand in hand with AI – each supporting the other to achieve balanced outcomes.
A Joint Venture Between Head and Heart
Many see AI as an aid to human intelligence, not a replacement. To be one-step ahead in the AI era, professionals must learn to balance human and machine thinking. Organizations will have to showcase the ability to use the correct information at the right time and take action. It’s about using your instinct to take advantage of data and transforming that information into timely business decisions. AI is not yet ready to replace the human brain, but it has matured into an effective co-worker.
Will intelligent machines replace human workers sometime soon? I guess not. Both have different abilities and strengths. The more important question is: Can human intelligence combine with AI to produce something experts are calling augmented intelligence? Augmented intelligence is collaborative, and at the same time, it represents a collaborative effort in the service of the human race.
Figuring out how to blend the right mix with the best of data-driven deliberation and instinctive judgment could be one of the most significant challenges of our time.Enable GingerCannot connect to Ginger Check your internet connection
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Article | February 19, 2020
Kubernetes 1.19 is about to be released! And it comes packed with novelties. However, there’s something beyond the features that grabbed our attention this time. Where do we begin? Kubernetes as a project is maturing, support has been increased from nine to 12 months, and there’s a new protocol in place to ensure a steady progress on feature development. Also, many of its new features are meant to improve the quality of life of its users, like Generic ephemeral inline volumes, or the structured logging.