CBInsights recently published a great article on how big corporate executives have laughed off and dismissed emerging technology and disruptive service providers. From Amazon to Salesforce to Netflix, they point out the folly of what happens when you misread an important market trend.
While CBInsights was covering business overall, it got me thinking, what are some of the major trends in MarTech to which we should be paying more attention? In January I wrote about 10 investment trends for 2018. Here are two I would like to expand upon:
In both of these areas, there is a convergence of natural language processing and machine learning that is transforming the customer experience and how companies engage. The communication method for AI is natural language processing, which utilizes natural language to communicate with intelligent systems. Using machine learning techniques and statistics, technology can now easily understand sentence structure and meaning, sentiment, and intent.
“By 2020, voice-activated search will be the number one source of initiated inquiry.”
By 2020, voice-activated search will be the number one source of initiated inquiry. As marketers, how do we communicate effectively through such a ubiquitous channel? No more banner ads, infographics, white papers, video or blogs. No more email. Just a conversation. The “Minority Report” concept is really here. This is going to require companies to get serious about truly understanding their prospects and customers. Data management and governance, privacy, preference management and AI all converge. In 2020, a transaction may look something like this:
Jeff: “Alexa, who are the top 3 payroll companies?”
Alexa: “Jeff, are you evaluating payroll companies for The Pedowitz Group?”
Jeff: “Yes, we are trying to determine options.”
Alexa: “Can I look at the data for your current payroll and benefits?”
Jeff: “Yes, please proceed.”
Alexa: “This will take a minute – there is a lot of information to process.”
Jeff: “Ok, I understand – please let me know when you are ready.”
Alexa: “Ok……I am ready. Based on analysis of your annual spend and benefits, I recommend the following companies – ADP, Paychex and Gusto. I have compiled an analysis of fees, service options and customer evaluations and am sending to you now to your company email address. Shall I arrange for a meeting or demonstration with each provider?”
Jeff: “That’s great, thank you. No, just send the analysis for now and I will let you know about next steps.”
As more systems become cloud based and interconnected, AI will be able to look for patterns and relationships and then present them in context of business and personal decisions. These trends will significantly impact the course of business over the next ten years. Don’t be the executive that dismisses this. Start thinking now about how you can prepare your business to harness these emerging technologies and move to the front edge of the wave.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
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2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
