How Businesses Are Using AI and Machine Learning to Leverage Events
As professionals across disciplines in the healthcare, retail and financial services industries embrace data-driven decision-making and begin to experience the power of precision available at their fingertips, more marketers are turning to artificial intelligence to improve the efficacy of many parts of the sales cycle.
For buyers, the purchase path has been transformed by the large amounts of data available and the technology that has been created to make sense of it. What used to involve manual searches and gathering information from word of mouth and online can now be delivered by algorithm.
We’re in the midst of a shift that is subtle, yet universal, affecting all facets of how businesses operate and how audiences make choices about what to buy or engage with. The general is that detail-heavy, routine tasks can be streamlined or eliminated altogether with emerging technologies.
Missing from that narrative is how much the human element remains necessary—in making sure the streams of data speak to each other, for tuning the data sets, enhancing their sophistication, giving them context and direction so they become tools rather than simply data.
“Businesses are looking at AI to help gain a better understanding of their customers and personalize the experience they deliver,” said John Bruno, analyst of ebusiness and channel strategy at Forrester.
If increased precision and customization of the buyers’ experience is the goal, it follows, then, that complex, task-heavy operations in live events organizing, which delivers end products that promise heavy person-to-person interaction, has become a ripe area for innovation. Leveraging a machine learning algorithm, planners could better estimate how many attendees will convene, or anticipate how many supplies or products each attendee will need.
This article originally appeared on adweek.com. To read the full article, click here.