BUSINESSES turned to digital marketing when they realized that their customers are online and no longer reading newspapers, magazines, and other periodicals. And although moving a part of their marketing budget to search and display ads and social media made a big difference, many are still struggling to optimize costs and make the most of their digital marketing dollars. What's most interesting is that many companies have access to data about actual customers, in real-time, and yet, are consistently failing to create synergies and transform their digital marketing efforts. The technology is available ready, and marketers who want to get more out of their ads and reach the right audience at the right time and on the right platforms must explore the capabilities that machine learning provides. Marketers today have access to all sorts of data.
JUST a few months ago, businesses and citizens were complaining about the poor adoption of technology in the insurance sector. So, the leaders have responded by ramping up investments in new and emerging technologies to streamline operations, wow customers, and transform their business. Going by the solutions they're announcing, it seems that the industry is particularly keen on exploring the applications of artificial intelligence (AI) over other technologies. Their choice, of course, has been appreciated by customers. Most recently, Singapore Life, a digital native insurance firm launched an AI-powered chatbot, the SingLife Chatbot.
ORGANIZATIONS have been obsessed with artificial intelligence (AI) for the past 18 to 24 months, believing it can provide them with a strong competitive advantage and a key differentiator in a crowded marketplace. As a result, the world has spent nearly US$24 billion on AI and cognitive technologies -- and forecasts suggest that spending will reach US$77.6 billion by 2022, growing at a CAGR of 37.3 percent between 2017 and 2022. Obviously, with all the attention and investment in AI, you tend to think that executives would have a clear idea of what AI really is. A new report suggests, however, that most executives don't. AI is a disruptive technology because it has the potential to boost efficiencies and cut down costs almost overnight.
SAVING money and time is one thing artificial intelligence (AI) can do well, and American Express (AMEX) Global Business Travel (GBT) is using the technology to deliver savings every time clients book a hotel room. In an exclusive interview with Tech Wire Asia during a trip to Singapore, Chief Information and Technology Officer David Thompson spills the beans on the company's AI-based booking solution. As AMEX GBT books hotel rooms for clients, it follows travel policies handed down to them (preferred hotels, agreements, etc). However, as most hotel's inventory changes frequently, opportunities to move the traveler into a lower cost hotel room with the same amenities often arises. "This is where we found the opportunity to leverage AI. We trained AI to understand where the hotel room is and what the amenities are."
WHEN you think of blockchains, you think they're only making headway in the fintech and financial services space. Many companies in other sectors are also exploring how to make the most of blockchains in their business. The fact that the technology provides transparency and makes tampering with records significantly harder than conventional recordkeeping makes it of interest to manufacturers, retailers, and supply chain operators too. According to a recent forecast by IDC, spending on blockchain solutions is set to reach US$2.1 billion in 2022. In fact, the company's analysts expect blockchain spending to grow rapidly over the forecast period 2017-22, with a five-year compound annual growth rate (CAGR) of 72.6 percent.