Econsultancy’s five Ps to plan an effective AI strategy
The Artificial Intelligence (AI) is here to support ecommerce and other online businesses. In 2017, we saw more and more advancements in the adoption of the AI into marketing.
Econsultancy columnist Mark Patron has shared five Ps of AI strategy for marketers.
Patron says, “Some predict that Artificial Intelligence will drive the next industrial revolution. What is certain is that over the next few years AI will become more important to marketers.
But to unlock AI’s huge potential you need an AI strategy. Here are five Ps to help you develop yours.
AI for what? How can AI help your organisation? What business problem are you trying to solve?
AI is good at targeting ads, product recommendations, deciding if someone is likely to repay a loan, face and voice recognition, even driving cars. AI is not good at more profound thinking such as creativity and innovation.
The economics of your business can help guide you to areas where AI can add value. Customer acquisition, conversion and retention are good places to start. Consider the whole customer journey”.
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