AI in Marketing Exam 2

What is a Chatbot?

- A software application designed to simulate human conversation, either in the form of textual or auditory communication. - Chatbots can interact with users using predefined scripts or using more advanced algorithms that allow for more natural conversations.

What strategies and adaptations should companies implement to ensure not only their survival but also their growth and relevance?

- Branding behind a product or service - Use it to its advantage and to benefit from it - Focus on small tasks - Implement it slowly

AI Tools:

- Chatbots - Predictive Analytics - Natural Language Processing (NLP) - Recommendation Engines - Marketing Automation - Customer Segmentation - Sentiment Analysis - Image/Video Recognition - SEO Optimization - Content Generation

ChatGPT:

- Conversational AI abilities - User interaction - Adaptability - Knowledge synthesis

AI-Generated 'Actor': Advantages

- Cost Efficiency - The appearance can be customized at will - No risk of scandal - Ability to play any role/scenario

How are companies using Chatbots?

- Cost Savings - Enhances Customer Engagement - Automated Lead Generation - Contextual Support to Customers - Measurable Performance - Saves Time - Industry agnostic - Multiple use cases

Main Takeaways:

- Designed to be humanlike to a point. - Designed for functionality - not just novelty. - Robots matched to customer base and tasks. - Robots introduced as coworkers - not replacement.

How are companies surviving in the AI world?

- Embrace AI "AI disruption should be business leaders' number one priority" - Constant Innovation - Focus on Education - Partnerships & Collaborations

Disadvantages:

- Lack of Emotional Depth - Human Connection - Loss of Jobs - Quality Variation

Google:

- Search engine capabilities - Vast data access - Integrations

Types of Chatbots:

1. Rule-Based Chatbots: - Operate based on predefined rules. They are limited and can only answer questions defined in their rules. 2. AI-Based Chatbots: - Use artificial intelligence, especially natural language processing (NLP), to understand user intent and generate responses. They can learn from user interactions and improve over time.

Identify three companies that have been most impacted by the emergence and popularity of ChatGPT.

1. Snapchat: - My AI Chatbot, used to ask questions. 2. Salesforce: - Einstein GPT, helps create a generative AI for Salesforce Customer Relationship Management offerings. 3. Microsoft: - Microsoft has integrated Chat GPT into its Bing Search Engine, called Bing AI. - It's available via an app and as part of the Microsoft Edge Browser.

Applications: Customer Support

Answer frequently asked questions, provide information about products/services, or help users troubleshoot common issues.

Who's leading the rise of robots?

Asia: - Older population - Large manufacturing base - In South Korea, 10% of the entire workforce are robots, and all the older-population countries are seeing a huge rise in robots.

Robot:

Boston Dynamics Farm robots used to help address world's food crisis. Security Robot: A security robot is an autonomous, AI-powered machine that monitors and protects a specific area or premises. Unlike traditional security personnel, these robots have sensors, cameras, and advanced software to detect and respond to potential security threats.

The Future of Customer Service:

By 2027, chatbots are expected to serve as the primary customer service channel for about a quarter of organizations. But, we need individuals with a profound understanding of the business, product, and customers.

Advantages: Availability

Can be available 24/7, providing instant responses.

Lack of Emotional Understanding:

Can't understand or respond to human emotions like frustration or sarcasm as effectively as a human would.

What types of jobs will be in demand due to the primary role of chatbots in customer service?

Conversational Designers: As chatbots aim to simulate human-like conversations, experts who can craft these interactions in a user-friendly manner will be crucial. Chatbot Trainers. These individuals will be responsible for "teaching" chatbots by feeding them information, correcting errors, and refining their conversational abilities. Human Oversight and Support Teams. Even with advanced chatbots, there will always be queries or issues that are too complex or sensitive for a bot to handle. Human teams will work alongside chatbots, stepping in when needed.

Entertainment:

Engage users in playful interactions or games.

Sales and Marketing:

Engage with potential customers, promote products, or even complete sales transactions.

Which types of businesses do you believe would benefit from a service robot?

Hotels, Grocery stores, hairdressers (simple/cleaning tasks), restaurants, and shops.

AI Operations:

It is a practice involving building, integrating, testing, releasing, deploying, and managing the system to turn the results from AI models into desired insights of the end-users.

Examples:

Lemonade Insurance Starbucks: - Employs marketing bots, making the process of ordering a hot coffee even more convenient for customers. Lyft: - Leverages chatbots to enhance customer interactions and services. Tech Giants: - Companies like Microsoft and Google have introduced their versions of conversational AI tools built using LLMs.

Service Robot:

Not quite as advanced, but has abilities in language and navigation to create better guest experiences in hotels, restaurants, and shops.

Consistency:

Offers consistent answers, ensuring uniformity in communication.

Cost-Efficiency:

Reduces the need for human intervention, especially for repetitive queries.

Limitations: Limited Understanding

Rule-based chatbots can only respond to specific prompts.

What companies are using Chatbot?

Sephora Uber Taco Bell eBay CNN NBA Capital One UNICEF

What jobs will be replaced by chatbots?

Services that are more standardized and automatic, such as customer support jobs. Basic Sales and Marketing jobs.

Information and Productivity:

Set reminders, provide news updates, or assist users in various tasks.

Consumer's Attitude:

The number one reason consumers use chatbots is to get a quick answer.

Complex Queries:

They might struggle with intricate or multi-layered questions.

Customer Service:

We need individuals with a profound understanding of the business, products, and customers.

Text:

• ChatGPT • POE: 6 ChatBots (Sage, ChatGPT, Claude+, Claude, GPT- 4, DragonFly) • Global Marketing: RASK AI (Video Translation)

Music/Videos:

• Stable Audio • Google Music LM • Suno • Pika Labs • Kaiber • Elevenlabs

Images:

• Stable Diffusion • Stability AI • Ideogram.ai • MidJourney • Playground AI • Lexica • Adobe Express • Runway