Generative AI — Challenges and Opportunities for Marketing & Communications
by Damir Leovac
Wherever the journey may lead, Generative AI has arrived and is here to stay
With advancements in AI being one of the hottest topics today, it led the conversation at a recent joint event hosted by April Six and Foundry in Munich. At “Opportunities and Challenges of Generative AI in Marketing and Communication”, experts presented internal findings and results, revealing how companies assess AI and the potential areas of application in the coming years. Key questions revolved around what the integration of AI means for businesses and how it is changing the work of communicators and marketers.
Artificial intelligence (AI) is currently under scrutiny and the source of much debate. On one hand, it creates unprecedented ways to evaluate data and generate content. On the other, AI tools could be using intellectual property without permission, causing fear and frustration.
Chatbots and Content Creation particularly intriguing for German companies
A recent study conducted by Foundry, surveyed IT decision-makers in EMEA on generative AI trends (see Executive Summary). 56% of German companies plan to increase their budget for AI applications in 2024 (64% in EMEA). The results create a clear picture—AI is very much front and center of the conversation and has become a decisive factor in business strategies and development.
In addition to chatbots and virtual assistants, content creation is also an intriguing area for German organizations. Both these areas can significantly enhance customer engagement. A chatbot, for example, can offer tailored recommendations and solutions based on past interactions and purchases, making customers feel better understood and supported. Generative AI can generate personalized marketing materials, recommendations, and content based on individual customer preferences and behaviors.
How can companies identify internal vulnerabilities?
Generative AI also offers diverse applications for internal corporate insights. The keynote of Gerhard Raffling, Vice President North/Central/Eastern Europe at Medallia, discussed the possibility of retrieving real-time feedback-based insights on internal vulnerabilities within one’s own company. This requires implementing a proprietary AI application that only accesses company-owned data and customer signals. For instance, retail managers could quickly determine customer feedback on a new fruit variety. Additionally, AI holds significant benefits for employee experience. For example, after introducing new company policies, supervisors could identify which measures have been effectively implemented and which ones haven’t, along with a clear explanation for success and failures.
Poor data quality discourages many German companies from using AI
Alongside numerous opportunities, there are also several hurdles to overcome. While the myriad applications for AI sound promising, these tools are only as good as the data that fuels their intelligence. The desire for AI implementation may be strong. However, according to Statista, many German companies lack sufficient or high-quality data for a profitable implementation. Simply put, the effort involved in using AI systems currently outweighs the potential savings in deploying them profitably.
Wherever the journey may lead, Generative AI has arrived and is here to stay, and we are eager to see how the technology continues to evolve in the coming years.
At April Six, we can help you harness the power of generative AI, leverage AI tools, and make your processes more efficient. Get in touch today: firstname.lastname@example.org
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