Welcome to the Better Communication Results vidcast, edition number 119
In today’s show:
- Could AI translators change the language of business?
- How AI is solving real-world marketing problems
- Artificial intelligence milestones
- AI is making work more meaningful
First, could artificial intelligence make business language more intelligible?
The experts are divided. Human translators say that they will not be made redundant by technology, because you cannot engineer for cultural differences and cultural references. However, the researchers and entrepreneurs working on neural machine translation say that human translators get tired after a while and make mistakes. Whereas, they argue, machine translators start off with a small margin of error but get more accurate over time and exposure.
To communicate effectively with potential business partners, clients and customers, businesses need to know what to communicate and how to communicate. This is where cultural knowledge and awareness makes a difference. Different cultures have different approaches when it comes to communication.
So far, the technology is not quite at par with human translators, particularly in real-time situations. But rapid progress is being made, and within 5 years we can expect to have a level playing field.
The takeaway? While artificial intelligence is expected to dominate international business translation, people will act as translators of tone, emotion and culture.
How AI is solving marketing’s biggest problems
Artificial intelligence has been helping businesses for a little while now. But here’s some ways that it specifically helps marketers.
Firstly, artificial intelligence can help CRM systems get a much more holistic view of the data. As an example, Salesforce’s Einstein AI helped US Bank (the fifth largest bank in the United States) more than double their lead conversion rate by tapping into insights from their Salesforce CRM system.
Secondly, Personalised targeting. Today, thanks to AI, personalized communication has reached true 1:1 level of custom messaging. Tools like Movable Ink, allow businesses to insert content into emails dynamically as a customer opens the email.
The tool draws data from the company’s CRM platform, website analytics, transaction data, product catalogues and inserts its own AI-powered content recommendations inside emails in actual real-time. The result? No two emails look the same, with hyper-relevant messaging targeted to each individual user.
Social media marketing. Social media content is now intelligently curated by tools like Cortex that not only take care of the mundane jobs like scheduling content but also decide how and what content to show to users on social media.
For instance, Cortex used AI-based cluster analysis to identify the best performing content for Visit Utah’s ski enthusiast customers on Instagram. They found that images of pine trees boosted engagement through the roof with a 90 to 183% increase. On the other hand, images of families, groups, and blizzard conditions reduced engagement by as much as 23%.
Guess what images Visit Utah posts more of now?
Artificial Intelligence milestones over the centuries
There’s a lot of hype around artificial intelligence. You could easily assume that the last ten years have been the most influential. But that’s just not true. As far back as 1637, scientist and philosopher Rene Descartes was thinking about machines one day thinking and making decisions. He correctly identified a division in machine labour. Some, he said, would be skilled at one task or job. Others could adapt to learn any job. In his way, he saw what eventually has become two specialist fields: Specialised AI and General AI.
Fast-forward to the last century. In 1980 Digital Equipment Company deployed a learning system that, within six short years, was saving them in excess of $40million a year. This is significant because until this point AI systems were generally regarded as impressive technological feats with limited real-world usefulness. Now it was clear that the rollout of smart machines into business had begun.
1991 – The birth of the Internet.
The importance of this one can’t be overstated. In 1991 CERN researcher Tim Berners-Lee put the world’s first website online and published the workings of the hypertext transfer protocol (HTTP). Computers had been connecting to share data for decades, mainly at educational institutions and large businesses. But the arrival of the world wide web was the catalyst for society at large to plug itself into the online world. Within a few short years, millions of people from every part of the world would be connected, generating and sharing data – the fuel of AI – at a previously inconceivable rate.
AI is not here to take jobs, just to make work more meaningful
Many fear that AI is taking away jobs. However, recent trends show that companies are using artificial intelligence and automation to improve efficiency, reduce errors, and enhance communication among employees — not to cut workforces, says Praveen Kanyadi.
A recent survey indicates that information workers spend up to a quarter of the week on recurring tasks — many of which require them to manually pull historical information and take appropriate actions. This is where AI shines, as machine learning can process large amounts of historical data, understand patterns, and provide recommendations based on past actions.
AI performs numerous functions in the workplace. Some examples include chatbots that reduce support tickets and productivity tools that schedule meetings by analyzing attendee calendars and booking conference rooms. None of these chores is dearly missed by employees.
Essentially, artificial intelligence alleviates the burden of tasks that people dread — providing more space for meaningful projects.
Employees are freed up to be more creative and tackle complex problems thanks to AI. It operates as a complement to human intelligence, not a replacement. And it’s nothing to fear.
Until next time, take care, take some communication risks, because you never know what is going to pay off, and communicate with passion.
Consider reading this article: How artificial intelligence will affect my business in the next two years.