AI is an area of significant focus and investment for Agent3, and committed readers of this blog will recall us sharing details of AI solutions we have recently brought to market that are delivering immediate benefits of workflow efficiencies and accuracy for our clients.
In the rapidly evolving landscape of marketing, staying ahead of the curve is crucial. One of the most exciting and innovative technologies making waves is Generative AI. By harnessing the power of machine learning, Generative AI empowers marketers to create unique and audience-centric content, paving the way for unprecedented creativity and engagement.
It’s an exciting time - for Agent3, and the industry as a whole. But what are the implications of Generative AI in particular, and how do CMOs get started?
To delve into the topic, I recently sat down with AI expert, Philip Meier, a partner at L.E.K. Consulting* London, and leader of the Analytics practice in Europe, to get his views. Philip works across a range of sectors, and has extensive experience helping clients deploy analytics to enhance propositions and business performance.
You can watch the conversations but of note, we looked at:
(i)The implications of generative AI for the CMO, the overall marketing mix and the role of - and opportunities for - agencies:
In first video, Philip shares his experience of where he believes CMOs truly are in their AI journey. While big tech companies might be dazzling us with compelling demos of the possibilities with AI, Philip discusses the kinds of questions CMOs are actually asking about the implications of Generative AI within the overall marketing mix and what stage he believes they are truly at. In particular, Philip focuses on the use of Generative AI in content production and the associated challenges with brand differentiation in a world of increasing content
(ii) A Guide to Getting Started with Generative AI - what are the initial steps to take before committing to a fully blown implementation?
In the second video, Philip offers some practical steps that marketers can take in order to introduce Generative AI into their organization. In particular, he covers the importance of demonstrating ROI to the Board and the kinds of value indicators that marketers should be looking at. Finally, Philip offers a note of caution around governance: while it will increase in importance moving forwards, there will also be an exponential increase in complexity to navigate.
Generative AI has the potential to revolutionize marketing by unlocking unparalleled creative production possibilities. As you embark on this journey, remember that the reality in terms of progress is still some way removed from where tech companies would have us believe organizations are at! Success lies in good planning, a strategic approach, investment in quality data, and a commitment to ongoing refinement.
By embracing generative AI, your organization can redefine the boundaries of creativity and set the stage for a new era in marketing innovation. I hope these video conversations will help, but if you still have questions, please don't hesitate to get in touch.
*L.E.K. Consulting is a global strategy consulting firm based in London and Boston. Founded in 1983 by three partners from Bain & Company, L.E.K. focuses on corporate strategy, marketing and sales, mergers and acquisitions, and operations.[1] It provides expertise to life sciences and pharma, healthcare services, consumer products, financial services, energy and environment, media and entertainment, technology, travel and transport, industrials, and retail.