Tom Edwards is a professional futurist and keynote marketing technology speaker covering data, digital, artificial intelligence, marketing technology and emerging media trends
I was presented with the chance the discuss generative AI at the recent Microsoft Open AI event. I delivered a keynote addressing the influence of generative AI on customer and growth.
Additionally, I steered a comprehensive breakout session that delved into strategic methodologies encompassing governance, operational frameworks, proof of concepts, the sequencing of use cases, techniques for expanding applied AI and data infrastructure, and the principles of responsible AI.
This session also featured a number of real-time examples spanning across various functional business areas. I get a great deal of satisfaction from engaging directly with clients, and the participants were remarkably engaged and interactive!
Recently, I had the privilege of addressing 90+ top-level executives, delving into the various aspects of generative AI. Our discussions covered a wide range of topics, including the practical applications of generative AI across different industries. We delved into subjects such as establishing a center of excellence (COE), setting up safeguards and guidelines, formulating policies and procedures, mitigating risks, selecting suitable technologies, optimizing data quality, identifying and prioritizing relevant use cases, promoting responsible AI practices, and contemplating the future impact of generative AI on the workforce.
Currently, I dedicate my time to collaborating with Fortune 500 companies, evaluating the influence of AI. My EY role involves aiding clients in devising a strategic plan, comprehending the optimal data architecture, establishing an approach for governance and responsible AI, as well as charting a course to prioritize use cases and execute essential pilot projects. These initiatives span multiple areas such as consumer engagement, supply chain, product innovation, IT, and employee enablement, among others.
During our discussion we talked about why now? This ties into proprietary research I have been speaking on over the years tied to AI. I have researched across generational cohorts, and what is consistent is the primary behavioral driver for why individuals will adopt and engage with intelligent systems it’s tied to ease & convenience.
This leads to four key pillars that are critical to understand the potential impact of Gen AI beyond efficiency gains that also enable ease and convenience for employees and consumers.
1 – Accessible – Generative AI is a major step towards ease and convenience for generation of images and various forms of text-based outputs but also how we work with data and most importantly how we can democratize access to insights like never before.
2 – Enabler – I see Generative AI enabling us similar to how the calculator revolutionized mathematics by simplifying complex calculations and reducing human errors. Generative AI has the potential to impact a much broader range of tasks such as creativity, problem-solving, and decision making.
3 – Knowledge Strategy – Most organizations talk about data and how they drive data driven decisioning. The reality is there are still limitations in how our clients store, action and derive business decision from insights, it’s based on diagnostics vs truly allowing for real-time decisioning and advanced scenario modeling. That is where AI and generative AI can enhance data-driven decisioning in real time that doesn’t require an individual to understand advanced analytics.
4 – Intelligence Augmentation – I am big believer in intelligence augmentation. That this technology will empower versus replace. Roles like data science will evolve from focusing primarily on processing of information and model building, to fine tuning data with a focus on storytelling based on output. The types of data we work with will shift as well.
As we shift from enablement to autonomous actions, Ai will become more capable of generating content, designs, and ideas, the role of human workers will shift from being primary creators to acting as editors, curators, or supervisors of AI-generated content.
In the near-future work outputs will be about combining our creative instincts with AI-generated content to enhance our decision making. One final thing of note, humans still possess superior emotional intelligence and understanding of cultural nuances. The combination of machine-based output + human understanding that will be key.
From 2016 onward, I have frequently discussed the accelerated development of artificial intelligence (AI) and its pivotal role in revolutionizing sectors like pharmaceuticals. Today, our focus shifts to leveraging the capabilities of GPT, or Generative Pre-Trained Transformer, in the consumer packaged goods (CPG) and retail domains. In this post, we will delve into the ways GPT can transform customer interactions and redefine the playing field for CPG and retail brands.
My AI avatar has thoughts about which of the 8 points listed below is the most relevant.
Personalized Communication at Scale
The strength of GPT lies in its ability to understand and generate human-like text. This capability allows CPG and retail brands to create highly personalized messaging for their customers. By leveraging AI-powered language models, marketers can craft tailored content for different segments, demographics, and even individual customers, ensuring that every interaction feels unique and genuine. This level of personalization can lead to improved customer loyalty, higher conversion rates, and increased overall brand value.
Enhanced Customer Support
Customer service plays a critical role in the success of CPG and retail businesses. GPT can be utilized to augment customer support teams by providing instant and accurate responses to common inquiries, reducing wait times, and freeing up human agents to focus on more complex issues. Furthermore, with continuous learning and improvement, GPT can adapt and fine-tune its responses to provide an increasingly seamless customer experience over time. Especially if an organization enhances GPT with 1st party data through transfer learning and ring-fencing via an API.
Streamlined Content Creation
Creating high-quality content can be time-consuming and resource-intensive. GPT has the potential to streamline this process by generating product descriptions, promotional materials, and even social media posts, all while maintaining brand voice and consistency. By automating content creation, brands can achieve significant cost savings, improve efficiency, and allocate resources more effectively, especially with the release of GPT-4 and its multi-modal capabilities.
AI-driven Insights and Decision-Making
GPT can analyze vast amounts of data and extract valuable insights that inform marketing strategies and decision-making processes. By understanding customer preferences, sentiment, and trends, CPG and retail brands can make data-driven decisions, optimize their product offerings, and uncover new growth opportunities. With GPT’s natural language understanding capabilities, these insights can be communicated in a way that is easily digestible for decision-makers.
Revolutionizing Analytics for Deeper Customer Understanding
In the age of data-driven marketing, understanding customer behavior and preferences has never been more critical. GPT’s powerful natural language processing capabilities can be harnessed to enhance analytics by interpreting unstructured data, such as customer reviews, social media interactions, and online discussions.
By analyzing this information, GPT can uncover patterns, trends, and insights that were previously hidden, providing a more holistic view of the customer journey. This deeper understanding empowers CPG and retail brands to create highly targeted marketing campaigns via predictive CRM, optimize product assortments, and deliver more relevant, engaging experiences to their customers.
By combining GPT’s advanced analytics with traditional data sources, brands can unlock new levels of customer intelligence and drive strategic decision-making across the organization.
Boosting Voice Assistant Integration for Frictionless Shopping Experiences
As voice assistants become increasingly popular, their integration into CPG and retail experiences has emerged as a crucial factor for success. GPT’s exceptional language generation capabilities can be leveraged to enhance voice interactions, creating more natural, fluid, and engaging conversations with customers.
By developing AI-driven voice applications, CPG and retail brands can provide frictionless shopping experiences, making it easier for customers to discover, research, and purchase products using their preferred voice assistant devices. This level of convenience and ease-of-use not only contributes to customer satisfaction but also drives customer loyalty and repeat business, positioning brands at the forefront of the ever-evolving retail landscape.
Empowering In-Store Experiences with Augmented Reality and GPT
The integration of AI-powered technologies like GPT and Augmented Reality (AR) can elevate in-store experiences for customers, creating a seamless blend of the physical and digital. GPT can be utilized to generate contextually relevant content that enhances AR applications, offering product information, personalized recommendations, and promotional offers to customers as they navigate through the store. This combination of technologies provides an immersive, interactive experience that not only improves customer engagement but also drives sales and increases brand loyalty.
Enhancing Customer Engagement with Digital Humans and GPT
The fusion of digital human avatars with GPT’s advanced language capabilities can create a new paradigm for CPG and retail customer engagement. By combining realistic, emotionally expressive avatars with GPT’s ability to generate natural, human-like conversation, brands can deliver truly immersive and personalized interactions that resonate with customers on a deeper level.
These digital avatars can serve as virtual brand ambassadors, customer service representatives, or even personal shopping assistants, catering to customer needs and preferences with a human touch. The marriage of digital human avatars and GPT’s conversational AI helps bridge the gap between technology and human connection, fostering stronger relationships with customers and elevating the overall brand experience in the CPG and retail space.
By embracing GPT and other AI-driven technologies, CPG and retail brands can unlock a world of opportunities for enhancing existing data, customer engagement, streamlining operations, and staying ahead of the competition. As we continue to witness the convergence of marketing and technology, it is essential for forward-thinking businesses to invest in these innovations and capitalize on the transformative potential they offer.
I have been working on and speaking about the topic of AI since 2016. Over the years, I have researched across generational cohorts, and what is consistent across every age is the primary behavioral driver for why individuals will adopt and engage with intelligent systems, which is ease & convenience.
Generative AI, or artificial intelligence capable of creating new content and ideas, is one of the most rapidly growing technologies today. It has already made waves in the world of literature, art, music, and more. But what impact will it have on our future?
Generative AI has the potential to completely revolutionize how we create content. In its simplest form, it can be used to generate new stories or lyrics based on existing themes. The possibilities are far-reaching when it comes to creating entirely original works that would never been conceived without generative AI.
In this video, I discuss the rise of Generative AI and its implications for pharmaceutical marketing, creativity, prompt engineering, and key considerations tied to visual and text-based large language models DALL-E, GPT, and OpenAI’s chatbot, ChatGPT.
Other topics include insight about ChatGPT Professional, Google vs. Microsoft, and discuss ethics, bias, and other key points to consider when thinking about the application of ChatGPT and other transformer models for business.
It’s clear that generative AI holds a great deal of promise for humanity and its future—but only if used responsibly and ethically. With powerful technologies like these come big responsibilities.
