Marketing Strategy

AI is Everywhere—How to Cut Through the Noise

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Just ten years ago the concept of artificial intelligence was still a novelty for the majority of the technology industry. Now however, AI has exploded in popularity. Artificial intelligence, along with its counterpart machine learning, have become more than highly sought after, they have become a must have across every industry whether it be business facing or consumer facing.

With this increase in awareness and demand, has come a surge in AI-centered products, solutions, and theories. Everywhere you look today artificial intelligence has some part in the conversation whether it be in how a manufacturing company is making their production line more efficient or how writers are striking against tools like ChatGPT.

With so much noise around AI, it can be difficult for companies to break through and make their products, stories, and opinions in the space known both to the media and to prospective buyers. However, though a challenge, breaking into and navigating the AI landscape is very possible with the right tools and knowledge.

Understanding the AI Landscape

While the majority of businesses have educated themselves on the general concept of what AI is and the overarching advantages it can bring to their companies, there is still a lot of education to be done on the niche AI use cases for each industry.

It is in those niche segments that companies can stand out against competition in the crowded general AI landscape. The secret is pulling forward a business’s key differentiator, whether that be a new innovative use of AI to bridge a previously insurmountable gap, or a new discovery on what AI is capable of in a particular field.

What are the Different Applications of AI Across Different Industries?

The shift to technology has been gradually happening across industries as legacy companies in every segment have been making the change from their old systems to new digital processes. Now, with AI entering the picture, this digital transformation conversation is becoming even more industry specific as companies’ look to AI to solve their field’s niche challenges. Below are examples from both the banking and retail industries of how to stand out in the AI landscape.

Banking

Digital challengers and neobanks have been continuously rising in popularity and competing with traditional banks for market share in the financial industry. Recent advancements in AI however, are now allowing these legacy banks to match -and exceed- the digital experiences expected.

Banks want to be able to keep up with consumers’ demand for immediate, seamless banking transactions while also maintaining the level of security necessary when handling something as important as an individual’s financials. The AI solutions and conversations that will break through the noise are those that give banks new ways to make this possible.

Some key AI applications allowing financial institutions to compete with their more digitally native competitors include immediate and accurate fraud detection, enhanced security applications, and virtual banking assistants on the consumer facing side. 

On the business-facing side, AI topics that can break through the noise in the banking industry in particular include AI-powered software development that will drastically decrease costs as well as autonomous agents to handle the back-end of banks’ technology processes.

Retail

As e-commerce and hybrid options such as buy online pick up in store, have become increasingly preferred methods of shopping, the retail industry has also been flooded with conversations surrounding AI.

Just a couple of years ago, to stand out in the artificial intelligence conversation in the retail industry, your company needed to show how it was using the technology to help make the online experience faster and more personalized – for example through a unified, branded checkout. Or, on the business side, demonstrate how you could use AI to drive more customers to a retailer’s website or make them buy again after their initial purchase.

All of these applications are still of interest for retailers but as the memory of quarantine becomes distant, to break through the AI noise, companies should demonstrate applications that can be used both online and in-store.

For example, AI driven self checkouts that monitor for theft and reduce complications during the scanning of fruits or age verification points when trying to buy alcohol, are a great example of how AI technology can be talked about in a new innovative way to get attention. It’s all about positioning AI in a way that makes it interesting and exciting to both consumers and businesses alike.

Methods for Staying Abreast of the Latest AI Development 

Just like in any industry the key to staying ahead and maintaining relevance is always being aware of the latest developments. Of course, in regards to AI these developments surface quickly and often so keeping up requires diligence. 

It’s essential to be consistently monitoring the media for any news on AI – whether it be in your specific industry or another. Progress in AI capabilities in any field is notable because it could be used to spark growth in your own area of expertise. Staying in the know of how AI is being used across industries allows you to be able to contribute more to conversations, such as being able to educate peers on how that same use case could be applied in your field.

At the same time, knowing how AI is being used and talked about in your particular industry is also integral. By staying abreast of the trends and launches you can determine the best way to position yourselves so that media and prospects will take notice. For example, if a new product is launched claiming to solve the same challenge your company does, by monitoring the media you can quickly adjust messaging to highlight an area of your solution that is unique so that you are still differentiated in the market.

Another way to break through the AI noise is to keep an eye on what particular challenges are being most discussed by reporters in your industry and position your company as an expert on how AI can solve this rising challenge for your customers.

All in all, while the sheer size of the AI conversation may be daunting, it also lends itself to many opportunities. There is a demand and a strong interest in artificial intelligence in every field and many niche use cases to speak on. It’s all about knowing where the demand is and having a unique take to offer to the public – whether that be through a product, solution, or theory.

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