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Three Key AI Learnings for Your Organization
Use it to transform work processes, enhance customer engagement and build brand loyalty.
AI is not a proxy for a human – not even close. However, it serves as a valuable tool to streamline work processes so we are freed up to focus on the more strategic, creative aspects of our jobs. Across all industries, it is driving efficiency, innovation and new business models. As marketers, we’re integrating these insights into our strategies and tactics for clients and their customers.
Moore’s recently released M.Cast™ Trends Report highlights the outsized, evolving role of AI. The report highlights seven pivotal trends impacting marketing, business and society, with AI as a megatrend reshaping industries from healthcare to entertainment.
Even in our trend about customer care – which reinforces the need for brands to build loyalty and trust through using an emotional connection – AI plays a role. It helps businesses save time on customer service tasks so they can focus on the care component. For example, Salesforce reports that 62% of customers say they would rather interact with a chatbot than wait for human employees to respond. Additionally, IBM states that 80% of routine customer service inquiries can be handled by chatbots. By addressing customer service needs efficiently, businesses can focus on truly caring for customers through empathy, building long-term relationships and understanding what matters to each individual.
Here are three other AI learnings to help you drive business success:
- AI requires training and management. It is only as good as the prompts you give it. While AI can enhance a brand’s relationship with its customers, its effectiveness depends on the individuals guiding it. Companies with AI-trained staff can also innovate faster and stay ahead of competitors. It also provides data-driven insights that can help employees make better decisions.
- AI can enhance customer relationships. The performance improvements delivered by AI can be found in all stages of the customer management lifecycle – from prospecting to acquisition and even retention of customers or clients. By demonstrating to the customer that we know them, truly know them, we enhance the relationship, boosting brand equity and reputation. Some marketers fear that automating interactions may distance the brand from its audience, or that AI will standardize connections, diluting relationships. However, our ability to connect with the customer is made easier with AI, not harder.
- AI is here to stay. Embrace it, and hire a team and partners who have already done the legwork of testing platforms, identifying pitfalls and continuing to invest in future applications. Geoffrey Hinton, the 2024 Nobel Peace Prize winner for Physics, said AI will be “comparable with the industrial revolution, but instead of exceeding people in physical strength, it’s going to exceed people in intellectual ability.” That can be good news — even life-saving news. I recently read a stat that knocked me over: AI can reduce 86% of errors in health diagnoses, equivalent to 25,000 lives saved a year. That’s because machines are capable of performing tasks at a faster and, at times, more accurate rate than humans.
With these themes in mind, here are a few ways you can implement AI in your everyday.
Understand Your Goals: Clearly define what you want to achieve with AI. Whether it’s improving customer service, automating tasks, or gaining insights from data, having a clear objective will guide your AI strategy.
Choose the Right Tools: Select AI tools that best fit your needs. There are various AI solutions available, from machine learning frameworks to natural language processing tools. Research and choose the ones that align with your goals and technical capabilities.
Ensure Data Quality: AI systems rely heavily on data. Ensure your data is accurate, relevant and well-organized. High-quality data leads to better AI performance and more reliable outcomes.
Stay Informed and Updated: AI is a rapidly evolving field. Keep up with the latest developments, trends and best practices. Continuous learning will help you leverage new AI advancements and maintain a competitive edge.
Ethical Considerations: Be mindful of AI’s ethical implications, including potential bias. Clearly define AI goals, select appropriate tools, and train staff to manage AI effectively. Addressing these concerns builds trust, promotes responsible use and enhances customer relationships.
The transformative power of AI is undeniable. Leaders and their organizations can benefit by staying curious, informed and proactive. To further explore the potential of AI and its impacts on the seven trends we see shaping 2025, visit MCastTrends.com.