Join top executives in San Francisco on July 11-12 and learn how business leaders are getting ahead of the generative AI revolution. Learn More
Over the past few years, generative AI has emerged as a transformative technology, its advanced algorithms revolutionizing industries by enhancing business processes, redefining human interactions and optimizing productivity. The technology enables the analysis and generation of natural language, fostering innovation and growth across diverse sectors.
For businesses, generative AI offers personalized marketing email generation, chatbot development for customer queries, and even code writing. Automating tasks and providing insights streamlines productivity, empowering individuals to make informed decisions. Gen AI can, for example, summarize extensive text, detect data patterns and stimulate creative thinking.
Customer insights through generative AI
During Transform 2023, Stellantis, the world’s third-largest automobile company, highlighted its utilization of Treasure Data’s Customer Data Cloud to gain profound customer insights. This endeavor yielded exceptional outcomes, encompassing cost savings and revenue growth through enhanced marketing campaigns.
Treasure Data’s Customer Data Cloud platform enables businesses to consolidate customer data from various sources, facilitating the creation of comprehensive customer profiles for personalized and pertinent marketing endeavors.
Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls.
In Stellantis’ case, the AI cloud platform enabled identification of customers with the highest potential interest in specific products or services. Consequently, the company could target its marketing campaigns, resulting in a substantial rise in conversion rates.
>>Follow all our VentureBeat Transform 2023 coverage<<
Gail Muldoon, head of customer data and analytics at Stellantis, expressed enthusiasm about integrating AI-based recommendation engines, emphasizing the indispensability of data in modern business decisions. “The automotive industry is transitioning to an era where data-driven decisions are indispensable,” she said. “It’s truly exciting.”
Treasure Data’s platform also bolstered conversion rates and reduced marketing expenses for Stellantis. The company could focus its resources on the most effective channels by identifying the most receptive customers. According to Muldoon, the Customer Data Cloud empowered Stellantis to create personalized customer experiences while effectively monitoring customers’ preferences and interactions.
“The Data Cloud allowed us to anticipate customers’ shopping interests, enabling us to suggest specific products from our range and understand their preferences. Furthermore, we have also integrated our business services in the post-purchase phase to deliver customers personalized recommendations, offers and content through our digital platforms,” she explained.
Slow and steady
Mark Tack, chief marketing officer at Treasure Data, highlighted common challenges encountered during AI implementation — and their remedies. Tack emphasized the importance of a deliberate approach, cautioning against premature full-scale adoption without proper foundational elements.
“It is crucial to evaluate existing processes before considering the role of AI. Hastily diving into AI without a solid foundation may lead to adverse consequences, undermining progress rather than enhancing it,” Tack told VentureBeat.
Tack asserted that generative AI will soon play a crucial role in facilitating purchasing decisions and providing shopping recommendations.
“If you’re seeking to rent or purchase a car, future generative AI assistants will possess knowledge about your preferences, family, driving style and destination. They may even provide weather updates for the area you’re heading to,” explained Tack. “Therefore, it is imperative that we ethically manage customer data and align with consumer expectations while delivering personalized experiences.”
He emphasized the fundamental importance of ethics, privacy and data governance in light of the increasing prominence of generative AI.
“When integrating AI into any process, transparency becomes paramount, as does obtaining consumer consent,” stated Tack. “There might come a time when it becomes necessary to disclose the use of AI and its specific contribution to outcomes or interactions. This could potentially be a direction we embark upon with AI, but given its rapid and real-time evolution, it remains a crucial topic for vigilance among all stakeholders.”
VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.