Product reviews, deals and the latest tech news

Acting locally first and thinking globally can have a significant impact

The use of AI has and will continue to get a lot of attention. Most of them are rather startling: artificial intelligence is developing consciousness; an AI-created work of art has won an award; an AI can now write music (and more). In contrast to these dazzling sci-fi headlines, the true transformative power of AI in the business world is rarely discussed. One example is the way AI is used to help companies better engage with their consumers.

Many CEOs have only examined AI in the context of data analytics or in cutting-edge research laboratories because of the “sci-fi” stigma attached to the field. Moreover, many are unsure about how to proceed once they have made the decision to experiment with AI. Instead than trying to solve every problem at once, organisations should practise “think global, act local” strategies.

Exactly what does this imply, then? When evaluating the effects of implementing AI, it is important to have a broad view and think about how it will fit into the company’s long-term goals. For AI to be successfully implemented, it must first be used on a modest scale, with the ultimate objective of expanding to larger projects. OK, but how does this manifest itself in practise? Getting started with artificial intelligence? Think about these things.

Figure out your big picture objectives

Finding these “global” objectives and requirements is the first stage in developing an AI deployment plan. Each company will do this in its own unique way. Some may be just getting their feet wet and looking for every advantage they can get in reaching out to potential clients. With the impending sunset of third-party cookies, some businesses may already have a few AI technologies in place and be seeking to rethink their martech/adtech strategy. In addition, a looming economic downturn means that consumers’ wants and needs are about to undergo dramatic shifts. There appears to be a movement occurring among many companies, away from an emphasis on client acquisition and toward one focused on customer retention.

Realizing that this is not a panacea is a huge step in the right direction. Maintaining loyal consumers is a major priority for almost every company, but not all of them will have to take the same strategy. Making sure your systems are optimised for the customer’s optimum advantage is essential when deciding on a worldwide strategy. While this may sound like a huge undertaking, even a modest beginning may lead to significant improvements in processes and tools that can be rebuilt into consistently fruitful interactions with customers.

Having local teams implement smaller initiatives

After settling on a global objective, it’s time to shift your focus to the immediate world. If your overarching objective is to maintain customer loyalty, a step you may take at the regional level is to implement AI capabilities that mesh with your current customer data platform. To do this, rather than tearing everything out and starting again, you may just improve upon the current setup.

Marketing tactics, such as where and when to connect with clients depending on their specific context at a particular moment, may be improved by using AI to better organise and activate current customer data. The end result is a happier customer, but firms may also boost morale by reducing stress caused by unclear customer service expectations. Having rapid access to data to inform interactions makes the job of customer-facing personnel more simpler and more fruitful for them over time. Both internal and external audiences will benefit from this.

The importance of knowing when to scale AI systems

Once the value of the AI project has been established, it is time to scale; determine whether expanding your existing AI skills would yield greater results. If you’ve been using AI to glean deeper insights from one collection of customer data, you might want to apply the same strategy to your other data as well. Or perhaps it’s as simple as setting up a central AI decisioning hub that can aggregate data from every department that interacts with customers so that you can comprehend the entire customer experience, from advertising to customer support. No matter how you look at it, AI deployment is more of a marathon than a sprint, and the most successful firms are those who plan ahead for the long haul when doing so.

The lesson is to develop as a person. The process of change may feel quite daunting and upheaval your life tremendously. However, by starting small and figuring out what works best for your company, you can anticipate its future requirements and craft a development strategy that is both realistic and sustainable.