How Personalization In AI Is The Next Big Thing In India?
AI can intention audiences primarily and totally based on browsing conduct, past purchases, comments, and likes so that you can deliver authentic personalisation
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It is no secret that Artificial Intelligence is altering our way of living, doing business and communicating with others. AI is present in all areas of technology, and here in India it is no different. AI in marketing market in APAC is expected to grow at the highest CAGR (Compound annual growth rate), at 29.79%, between 2018 and 2025, and it is expected to reach $40.09 Billion in 2025. China, Japan, South Korea, and India are among the major countries driving the AI in marketing market in APAC.
This use of this technology also encompasses personalization. AI now is increasingly being used by companies to approach customers, understand their needs and behaviours and connect with them in a way that makes them feel at ease. Understanding the use of these modern techniques of Digital Marketing translates into understanding how big brands want to position themselves on the internet.
Personalization is all about crafting a service or a product to accommodate sure behavior or preferences of specific people or audience. It boils right down to marrying the users’ desires with the giving. It may not be an exaggeration to mention that true personalization is achieved only if a productive union of users’ expectations or desires meet the user’s product solutions. So, you might question yourself why personalized communication is so important nowadays or why organizations accept that the way to progress is personalization. Well, actually it is the most ideal approach to target and make a devoted client base that is additionally upbeat. Also, the viability of the device is striking on stages that are digital and mobile.
Since the mid-90s, the IT administrations segment in India has been vital to its economy, and in the long run had represented 7.7% of India's GDP in 2016. This improvement goes ahead of the impact points of the dispatch of a Task Force on Artificial Intelligence for India's Economic Transformation by the Commerce and Industry Department of the Government of India in 2017.
The Indian government is investing heavily in Artificial Intelligence, which allows companies to build a strong marketing strategy, and it helps to develop a machine learning process to train their systems to guess a pattern of customer behavior, whether it's time to apply a food, buy something online or invest in income funds. Everything is related to data science and how this information can influence a communication with consumers.
The theme of AI in general tends to push companies, government and consumers towards increasing the amount of investments and values attributed to modernizing the media, predictability, and adapting to customer needs. We have witnessed exponential growth in investments in this area, with forecasts of nearly $ 90 billion in India. So, I should say that the transformation presented to all the sectors involved, especially Marketing, are irreversible, as we need to develop more and more in the way of selling our product in the best possible way.
AI can intention audiences primarily and totally based on browsing conduct, past purchases, comments, and likes so that you can deliver authentic personalization. The day is not far when we will see a customer walk in the store and through a camera the brand will all the data online like his interest, size and what exactly is he looking for as soon as he walks in. Post this they brand or their Sales Representative will offer exactly what customer is looking for. This kind of personalization ensures customer satisfaction and retains the customer for long.
With Indian brands like Flipkart using AI driven bots to increasing their festive sales, more companies are beginning to use Artificial Intelligence to better serve their customers. For example, Haptik uses smart AI to assist people. In addition, they are using a custom chatbot that helps convert leads into customers, the secret and that the system quickly understands the customer's needs, and soon offers a quick solution. Another company called Staqu is using Artificial Intelligence to help the police department fight crime via face recognition through AI, which helps the police department to easily identify suspects.
I believe that the use of AI in Digital Marketing and personalization has been an important factor for the approach of big brands with their consumers. India has been one of the pioneer countries in this area.
We had recently conducted an AI driven campaign for a leading hospital, with minimal to no human intervention. The campaign got 2000% return on Ad spends, 100% increase in lead generation at same ad budget, 50% improvement in ROI and 60% number of monthly leads jump.
It will be interesting to see how the adaption of AI unfolds in India and how personalization is going to be used to create a deeper impact in the coming years.
The wisest conclusion I could have is that all those that ought to develop an additional customized and differentiated relationship with their customers will continue to use AI, This technology is here to stay. When observed the growth of investments in the area worldwide. Companies need to renew themselves to remain relevant in the eyes of their customers, who request more than just being served or approached, but be well known by companies.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.