Industry executives and experts share their predictions for 2022. Read them in this 14th annual VMblog.com series exclusive.
Codeless AI Will Help Make AI Ubiquitous
By Shubham A. Mishra, CEO and Co-Founder of Pyxis One
The age of basing critical business decisions solely on intuition or gut instinct is rapidly coming to a close. In countless business sectors today, Artificial Intelligence (AI) is increasingly being relied on to scour vast amounts of data to unearth revelations about business processes, customer preferences and market trends. If not for AI, these valuable insights would go undetected. Best of all, guesswork is largely eliminated. Research firm IDC predicts that by the end of 2021, worldwide revenue for AI, including software, hardware and services, will reach $327.5 billion. By 2024, revenue will surpass $500 billion.
Marketing is uniquely poised for AI disruption. For years, skeptical CEOs and boards have given the side-eye to CMOs who presented plans based on dubious data and suspect research. Now, marketers equipped with powerful machine-learning models can look deep into the numbers to obtain unprecedented knowledge about consumer needs and preferences. But here’s the rub: for a very long time, AI has been regarded as the plaything of the data scientist of the world. We’ve all been awed by it and we’ve been suspicious of it but now it’s time to be included in it. It’s time to unleash AI’s full power by approaching it as a bridge that can be built by data scientists, and strengthened continually by marketers. In essence, non-tech experts are uniquely poised to contribute to the strengthening of AI systems by working in collaboration with data scientists who build the complex infrastructure of AI.
Codeless AI enables marketers to do exactly that.
The adoption of codeless AI will continue to expand
I fully expect codeless AI to continue growing rapidly during the coming year and long into the future. Some of the reasons for this include that when it comes to many of the daunting obstacles now preventing wider adoption of AI, codeless AI acts like a wrecking ball.
Because codeless AI doesn’t require someone to possess expert coding skills to setup and operate it. Codeless AI helps lower costs and eliminates much of the complexity from AI adoption, besides making setup and roll out child’s play, quite literally. Previously, companies needed to either completely overhaul their entire marketing systems to make them AI-compatible, or they were forced to bring in third-party, standalone platforms, or even bring in data scientists and experts specifically to assist with the tech. The first option was expensive and the second often required paying for solutions that focused too often on a single marketing discipline. In contrast, codeless AI is largely plug-and-play. Out of the box, the technology typically comes equipped with all the essentials: models, data analyzing pipelines and output dashboards.
What this means is that codeless AI democratizes access to information while leveling the playing field. The collaboration between the tech-experts and domain experts helps to truly strengthen the core AI system according to specified needs, and heightens precision of predictions.
AI-led creative and communication strategies will produce pioneering results
In the post-cookie era, expect to see larger numbers of brands and their creative people turn to codeless AI.
Information about what resonates with customers is crucial to marketers. The better the data on how consumers behave and what they prefer, the easier it is to design marketing campaigns and products that have the greatest appeal, be it digital or offline.
AI has the ability to analyze successful campaigns, ads and products from the past and provide design cues based on this analysis. AI also sheds light on how best to communicate with audiences by identifying the most impactful tone, context and semantics, as well as which channels are best to communicate through. With AI’s help, brands can also locate and track new market segments.
AI-led consumer research analysis will continue to shine
Since I’ve already touched on this, I won’t say too much more, but I expect that consumer research, which is already becoming one of AI’s biggest success stories, will only continue to see increased adoption.
For a long time, marketers and analysts have had to rely on consumer surveys that may not always enclose true customer intentions. Oftentimes, surveys can be notoriously inaccurate as people can choose not to reveal their true sentiments, or may not realize their perceptions are inaccurate about their desires and behaviors. But introduce AI into the equation, and the data offers much more precise and actionable information about consumers. I’ll also add that AI is also cheaper than traditional methods.
Today, marketers employ Natural Language Processing – the ability to train computers to understand text and speech much the way a human does – to learn what consumers really want, believe and act. AI also analyzes data derived from eye-tracking technology, video analysis and more.
All of this helps marketers build personalized strategies that lead to better audience engagement and increased customer satisfaction.
Cross-team collaboration will be the new smart
AI will also bring key changes to the way marketers collaborate.
Three verticals contribute to a successful marketing strategy: accurate consumer research, optimized campaign execution, and contextualized creative work. But to get the most out of one’s marketing efforts, every team must communicate and work towards a common goal effectively. They must also understand and reach out to consumers in the most effective way. AI infrastructure enables teams to work together, strategize and share information and insights at every stage of the consumer journey.
Conclusion
Lastly, I believe, with codeless AI products, AI applications will not just continue to grow but will soon become ubiquitous. By enabling people on the front lines of business to leverage AI and generate insights through it, we ensure that our workforces remain competitive and insight-driven well into the future.
When it comes to the marketing segment, AI’s capabilities delve deeper into consumer sentiments and preferences to uncover important information in the least intrusive and most effective way. AI will help marketers provide more targeted communication on channels of convenience to consumers and ensure that the brand communications they come in contact with are useful and relevant.
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ABOUT THE AUTHOR
Shubham A. Mishra is the Global CEO and Co-Founder of Pyxis One, a California-based tech startup that provides codeless AI infrastructure for brands to scale accurate data-driven marketing. He also co-founded Absentia Virtual Reality, where he led teams to build a disruptive tech stack for game developers. Mishra’s work helped enable more than 10 million in-game asset generation via AI stack. He co-founded Absentia after studying at the Birla Institute of Technology and Science. Mishra has contributed to patented work on deep learning-based auto texture synthesis with e-content-based tags, a learning algorithm processor, a haptic array suite for real-time feedback in a 3D virtual environment, and a compact-sized adapter for stethoscope innovations. In his free time, Mishra is passionate about art, fitness and healthy eating.
