Can AI take your business performance to a new level?

In this feature, Tony Lamb, Propolis Hive expert, Data Strategy, Insight & Intelligence, answers the burning questions around artificial intelligence (AI), and explains how it can help marketers directly improve their business performance.

According to the 2019 Accenture report AI: Built to Scale, 84% of c-suite executives believed they must leverage artificial intelligence (AI) to achieve their growth objectives. Yet 76% acknowledge they struggle when it comes to scaling it across the business, so fail to realise the desired benefits. 

AI is already part of our everyday existence and its use is growing at pace. Today, you will probably have experienced AI in action through LinkedIn, Spotify or Alexa, all tailoring content to improve your personal experience. A number of industry areas are thriving and reaping the rewards from using AI. In the financial sector, as early as 1987, banks were using AI systems to detect fraud with debit cards, and AI-powered electronic trades now account for almost 45% of revenues in cash equities trading.

Covid-19 has rapidly moved consumers and businesses to digital channels with organisations adopting and scaling AI and analytics much faster than they previously thought possible, quite simply because they’ve needed new answers or ways of working. But many other organisations are still wrestling with the basic data fundamentals of having a trusted view of their customers or business ownership of the data.

In this feature, we look at how companies can start to use AI to understand how it could drive their business performance