You are reading the article How Brand Management Can Be Enhanced In The Age Of Ai updated in November 2023 on the website Minhminhbmm.com. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested December 2023 How Brand Management Can Be Enhanced In The Age Of AiArtificial Intelligence (AI) has actively taken the world by storm. More and more businesses are now planning to leverage AI to develop brand management strategies as a fundamental part of their vision and mission
Meanwhile, AI is slowly but steadily becoming more prevalent in customers’ day-to-day lives. It makes everyday tasks and small chores easier and is quickly becoming more readily available in lots of shapes and sizes to suit customers’ needs.
Google and Microsoft are among the popular global brands that have already regulated their business operations to focus on Artificial Intelligence research. Other industry leaders like IBM, Amazon, Facebook, Apple, and Alibaba are not far behind from this objective.
According to a market research firm IDC, global spending on AI systems is said to reach $57.6 billion in 2023.
While AI offers undeniable benefits such as cost savings for the business, the bigger goal for marketers is to enhance brand management by making it more predictive and personalized. So, specifically, how can AI help marketers to achieve this? Without any further ado, we’ll discuss various methods to improve brand management using AI.AI guards online reputation
We know that opinions spread like wildfire online. Word of mouth is powerful enough to enhance brand awareness or wreck it altogether. Managing online reputation in this tightly connected world can be quite challenging for organizations.
A recent report by Bright Local found that marketers are spending, on average, 17% of their workweek on online reputation management. That’s almost one full day of work per week.
Of course, social media monitoring is essential for business success, but that doesn’t mean it should dominate your work time. The use of AI tools simplifies this task.
Artificial intelligence, using natural language processing (NLP) models, means computers can understand and decipher what your audience is saying.
AI offers a better way to ease the time commitment of managing your reputation online by:
Automating the monitoring process.
Responding to and asking for reviews at the right time.
Enabling brand managers and product managers to research on a large-scale basis.
Monitoring social media, websites, and other online forums.
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Access the Social media marketing strategy guideAI connects you with the right audience
Before the introduction of AI, companies were broadly categorizing customers to make bulk decisions about customer experience. AI has entirely changed how companies monitor their CX.
AI records and analyzes every action made by a user, such as:
The items they browsed
The products they added to the cart and then removed
The items remaining in the cart
Consider the example of Premier Inn, the largest hotel chain in the UK. The company was able to reach out to the target audience who were looking for a place to stay by leveraging the signals of their search queries.
By connecting to the right users with the right message at the right time, they saw an increase in their hotel bookings by 40%!AI improves customer experience
Forming an emotional connection with a brand plays a crucial role in enhancing the customer experience. Apple is the perfect example of a company that leverages emotions to build an everlasting bond with its consumers. Instead of sending out press releases about a product launch, it creates events to nurture a sense of mystery and allows consumers to be a part of it.
Marketers can achieve this intense relationship by utilizing the power of AI. These tools collect and analyze tons of data, giving access to accurate information to drive marketing strategies, and contributing directly to improved customer experience.
According to Forbes, the future of customer experience is artificial intelligence. In fact, it is projected that 95% of customer interactions will be managed by AI technology by 2025.
Companies are also focusing on using AI to deliver personalized recommendations. This is another crucial factor necessary to achieve a better customer experience. For example, we have already seen chatbots helping brands in this area by offering a personalized experience.
Intelligent chatbots deliver a comprehensive communication solution when it comes to answering FAQs, providing sales suggestions, or guiding a customer where to go next. With this approach, one need not have to call in or wait on hold for a customer representative. The automated live chat will answer all the common inquiries.AI secures customer data
Digitization has brought tremendous benefits to organizations, but it has also made them more exposed to cyber threats. Over the years, we have seen online attacks dramatically increasing.
In the wake of these outbreaks, eight out of ten online customers in the U.S are becoming increasingly concerned about data security and privacy as per 2023 CIGI-Ipsos Global Survey. This clearly indicates that most online users feel like they’ve lost control over how their information is being collected and used online.
The data protection laws such as GDPR and CCPA are introduced to secure the customer’s personal data and instill their trust in the favorite brands. These laws come with a massive penalty for the companies that are involved in leaking sensitive customer data.
According to the European Data Protection Board, supervisory authorities in the 31 countries reported 206,326 cases of GDPR infringement from May 25, 2023, to mid-March 2023.
With more number of companies embracing the Cloud and digital technologies, it’s now more critical than ever to protect the crucial data. Fortunately, business leaders and experts believe that artificial intelligence (AI) can improve data security to a certain extent.
AI-driven security tools can do this either by themselves using automation and detection or by offering security teams and Security Operation Centers (SOCs) with enhanced capabilities.Examples of AI-powered data security solutions include:
User and Entity Behavior Analytics (UEBA) – This tool learns specific patterns of legitimate access usage and uses it to determine sophisticated attacks like insider threats.
Security Information and Event Management (SIEM) – This security tool helps the security team deal with various events across the entire organizational environment. With the information delivered by SIEM, one can quickly deal with data security threats in real-time.
Security, Orchestration, Automation, and Response (SOAR) – This cybersecurity solution alerts on threats. It can detect risks and deal with some of them automatically.
Apart from this, some firms utilize AI systems like facial, voice, and sound recognition to register customer’s biometrics, which can then be used to securely access facilities in the future.Bottom line
The above-specified ways help companies in enhancing brand management using AI tools. Through these techniques, companies can earn higher revenue in terms of increased sales and conversions. Enhanced brand management is crucial to surviving in the competitive business environment, so brand managers should seek funds to invest in AI at the earliest and reap the benefit.
You're reading How Brand Management Can Be Enhanced In The Age Of Ai
THE LATEST WAVE of artificial intelligence development has forced many of us to rethink key aspects of our lives. Digital artists, for example, now need to focus on protecting their work from image-generating sites, and teachers need to contend with some of their students potentially outsourcing essay writing to ChatGPT.
But the flood of AI also comes with important privacy risks everyone should understand—even if you don’t plan on ever finding out what this technology thinks you’d look like as a merperson.A lack of transparency
“We often know very little about who is using our personal information, how, and for what purposes,” says Jessica Brandt, policy director for the Artificial Intelligence and Emerging Technology Initiative at the Brookings Institution, a nonprofit in Washington, D.C., that conducts research it uses to tackle a wide array of national and global problems.
In broad terms, machine learning—the process by which an AI system becomes more accurate—requires a lot of data. The more data a system has, the more accurate it becomes. Generative AI platforms like chatbots ChatGPT and Google’s Bard, plus image generator Dall-E get some of their training data through a technique called scraping: They sweep the internet to harvest useful public information.
But sometimes, due to human error or negligence, private data that was never supposed to be public, like delicate company documents, images, or even login lists, can make its way to the accessible part of the internet, where anyone can find them with the help of Google search operators. And once that information is scraped and added to an AI’s training dataset, there’s not a lot anyone can do to remove it.
“People should be able to freely share a photo without thinking that it is going to end up feeding a generative AI tool or, even worse—that their image may end up being used to create a deepfake,” says Ivana Bartoletti, global chief privacy officer at Indian tech company Wipro and a visiting cybersecurity and privacy executive fellow at Virginia Tech’s Pamplin College of Business. “Scraping personal data across the internet undermines people’s control over their data.”
“AI makes it easy to extract valuable patterns from available data that can support future decision making, so it is very tempting for businesses to use personal data for machine learning when the data was not collected for that purpose,” she explains.
It doesn’t help that it’s extremely complicated for developers to selectively delete your personal information from a large training data set. Sure, it may be easy to eliminate specifics, like your date of birth or Social Security number (please don’t provide personal details to a generative AI platform). But performing a full deletion request compliant with Europe’s General Data Protection Regulation, for example, is a whole other beast, and perhaps the most complex challenge to solve, Bartoletti says.
[Related: How to stop school devices from sharing your family’s data]
Selective content deletion is difficult even in traditional IT systems, thanks to their convoluted microservice structures, where each part works as an independent unit. But Koerner says it’s even harder, if not currently impossible, in the context of AI.
That’s because it’s not just a matter of hitting “ctrl + F” and deleting every piece of data with someone’s name on it—removing one person’s data would require the costly procedure of retraining the whole model from scratch, she explains.It’ll be harder and harder to opt out
A well-nourished AI system can provide incredible amounts of analysis, including pattern recognition that helps its users understand people’s behavior. But this is not due only to the tech’s abilities—it’s also because people tend to behave in predictable ways. This particular facet of human nature allows AI systems to work just fine without knowing a lot about you specifically. Because what’s the point in knowing you when knowing people like you will suffice?
“We’re at the point where it just takes minimal information—just three to five pieces of relevant data about a person, which is pretty easy to pick up—and they’re immediately sucked into the predictive system,” says Brenda Leong, a partner at chúng tôi a Washington, D.C., law firm that focuses on AI audits and risk. In short: It’s harder, maybe impossible, to stay outside the system these days.
This leaves us with little freedom, as even people who’ve gone out of their way for years to protect their privacy will have AI models make decisions and recommendations for them. That could make them feel like all their effort was for nothing.
“Even if it’s done in a helpful way for me, like offering me loans that are the right level for my income, or opportunities I’d genuinely be interested in, it’s doing that to me without me really being able to control that in any way,” Leong continues.
Using big data to pigeonhole entire groups of people also leaves no place for nuance—for outliers and exceptions—which we all know life is full of. The devil’s in the details, but it’s also in applying generalized conclusions to special circumstances where things can go very wrong.The weaponization of data
Another crucial challenge is how to instill fairness in algorithmic decision making—especially when an AI model’s conclusions might be based on faulty, outdated, or incomplete data. It’s well known at this point that AI systems can perpetuate the biases of their human creators, sometimes with terrible consequences for an entire community.
As more and more companies rely on algorithms to help them fill positions or determine a driver’s risk profile, it becomes more likely that our own data will be used against our own interests. You may one day be harmed by the automated decisions, recommendations, or predictions these systems make, with very little recourse available.
[Related: Autonomous weapons could make grave errors in war]
It’s also a problem when these predictions or labels become facts in the eyes of an algorithm that can’t distinguish between true and false. To modern AI, it’s all data, whether it’s personal, public, factual, or totally made up.More integration means less security
Just as your internet presence is as strong as your weakest password, the integration of large AI tools with other platforms provides attackers with more latches to pry on when trying to access private data. Don’t be surprised if some of them are not up to standards, securitywise.
And that’s not even considering all the companies and government agencies harvesting your data without your knowledge. Think about the surveillance cameras around your neighborhood, facial recognition software tracking you around a concert venue, kids running around your local park with GoPros, and even people trying to go viral on TikTok.
The more people and platforms handle your data, the more likely it is that something will go wrong. More room for error means a higher chance that your information spills all over the internet, where it could easily be scraped into an AI model’s training dataset. And as mentioned above, that’s terribly difficult to undo.What you can do
The bad news is that there’s not a lot you can do about any of it right now—not about the possible security threats stemming from AI training datasets containing your information, nor about the predictive systems that may be keeping you from landing your dream job. Our best bet, at the moment, is to demand regulation.
The European Union is already moving ahead by passing the first draft of the AI Act, which will regulate how companies and governments can use this technology based on acceptable levels of risk. US president Joe Biden, meanwhile, has used executive orders to award funding for the development of ethical and equitable AI technology, but Congress has passed no law that protects the privacy of US citizens when it comes to AI platforms. The Senate has been holding hearings to learn about the technology, but it hasn’t come close to putting together a federal bill.
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Today, the world thrives on the diverse potentials of artificial intelligence (AI). While adopting AI is imperative for the modern world to grow, AI at times can have criminal intents and inflict harm. One of the classic examples of criminal AI can be of A Space Odyssey. It is an omnipresent computer that concealed evil intents under a calm demeanor. This injects in us a sense of intimidation for AI, thereby, giving rise to prejudice that AI will soon be uncontrollable and will harm the planet. This narrative appeal is not grounded in reality. Such a notion is not only untrue but also irrational. While it’s true that AI can be a contributor to data invasion and breach of privacy, AI can also be a provider of privacy. In real life, AI is a defense against all possible threatening.Erosion of Privacy of Information
The age of information has put privacy at stake. Data strewn on the internet is easily and readily available to external audiences without the need for passwords. This lack of security has eroded the safety and security of information and has imparted a stimulus to cybercriminals. Here is exactly where they need for AI is felt. In order to create an impenetrable shield to information and data, AI can be the most appropriate bulwark, preventing cyber breaches. A pertinent example of such an AI technology is face recognition technology. Face recognition has resulted in strong security regulations and fewer data breaches for several business companies. AI performs other sensitive tasks also such as navigating and locating a criminal suspect.The Onus is on Humans
AI is an assistive technology, which means that it is not supposed to participate in decision-making. Acknowledging the fact that AI is a tool, the onus is on humans to put it to proper use. Humans need AI to sift necessary information while eliminating redundant ones. AI algorithms can be trained and governed to function according to an ethical set of rules such as important data filtration.
Today, the world thrives on the diverse potentials of artificial intelligence (AI). While adopting AI is imperative for the modern world to grow, AI at times can have criminal intents and inflict harm. One of the classic examples of criminal AI can be of A Space Odyssey. It is an omnipresent computer that concealed evil intents under a calm demeanor. This injects in us a sense of intimidation for AI, thereby, giving rise to prejudice that AI will soon be uncontrollable and will harm the planet. This narrative appeal is not grounded in reality. Such a notion is not only untrue but also irrational. While it’s true that AI can be a contributor to data invasion and breach of privacy, AI can also be a provider of privacy. In real life, AI is a defense against all possible chúng tôi age of information has put privacy at stake. Data strewn on the internet is easily and readily available to external audiences without the need for passwords. This lack of security has eroded the safety and security of information and has imparted a stimulus to cybercriminals. Here is exactly where they need for AI is felt. In order to create an impenetrable shield to information and data, AI can be the most appropriate bulwark, preventing cyber breaches. A pertinent example of such an AI technology is face recognition technology. Face recognition has resulted in strong security regulations and fewer data breaches for several business companies. AI performs other sensitive tasks also such as navigating and locating a criminal chúng tôi is an assistive technology, which means that it is not supposed to participate in decision-making. Acknowledging the fact that AI is a tool, the onus is on humans to put it to proper use. Humans need AI to sift necessary information while eliminating redundant ones. AI algorithms can be trained and governed to function according to an ethical set of rules such as important data filtration. Besides, AI-powered algorithms are also used in eliminating human errors caused by fatigue and biasedness. This is a vantage point by the virtue of which the security standards can be maintained.
To motivate employees, Herzberg suggested arranging work for job enlargement, job rotation and/or job enrichment. To boost productivity, he said, employers must increase their employees’ motivational factors while increasing workplace hygiene.Tips for implementing Herzberg’s management theory
If you’re looking to implement aspects of Herzberg’s management theory, here are some tips to get started:Locate tools and resources.
There are numerous resources — including books, podcasts and tutorials — that provide valuable information about Herzberg’s theory. You’ll find videos, instructional materials, diagrams and summaries of Herzberg’s motivation principles that can help you develop the background knowledge to put these theories to work for your company.Hire a consultant.
Consultants with knowledge and experience in Herzberg’s management theory can guide you in maximizing the benefit of his principles in your company’s unique environment. [Read about the The Management Theory of Henry Mintzberg.]
If hiring a consultant to help tackle this work isn’t in your budget right now, you can begin evaluating your company’s current status to get a sense of your workforce’s overall job satisfaction and dissatisfaction.Evaluate your current workplace.
Herzberg took inspiration from Abraham Maslow’s theory of self-actualization, more commonly known as Maslow’s hierarchy of needs, and applied some of those principles to the workplace.
Maslow’s hierarchy of needs states that for humans to achieve self-actualization, or the motivation to become the best possible version of themselves, their most basic needs must be met first. With Herzberg’s theory, the same idea applies to evaluating your company culture to determine how well your current policies meet your employees’ motivation and hygiene needs.Address “hygiene” factors.
Herzberg’s hygiene factors equate to what Maslow considered the most basic needs. Once your company meets those requirements, your workforce should feel stable and supported enough to be motivated to perform their roles as well as possible. Here are some hygiene factors to consider:
Your company’s reputation and administration policies: Your brand’s reputation can affect your employees’ ability to work with external partners and vendors and seek opportunities outside the organization. Your administration policies can also profoundly influence the satisfaction of your workforce.
Job policies and managerial practices: The procedures you implement to regulate your employees’ daily activities and how they are reinforced by managers affect not only employees’ job dissatisfaction but also their motivation to perform well for the company. If your employees feel stifled by your company’s regulations, they won’t be motivated to contribute to its success.
Job security: Especially in times of economic uncertainty, it’s essential to assure your employees that their jobs are safe and that they are valued members of your company.
Work environment: Providing a safe and comfortable work environment is vital to optimal workplace hygiene. The most basic definition of workplace hygiene concerns aspects of the physical work environment, such as cleanliness and temperature. However, workplace hygiene can also encompass employees’ average commute time and the stress they face in getting to and from the office. Hybrid work models have become a popular option to provide more flexibility than requiring employees to be in the office five days per week. [Read related article: Don’t Play Favorites — Or Risk Losing Remote Workers]
Salary and benefits: Salary and benefits address your employees’ most basic needs. However, benefits can extend beyond insurance coverage to include affinity groups to foster connections across your organization, mentorship programs to help employees grow beyond their roles, and additional training so they can learn new skills and explore other areas of interest.
Did You Know?
Maslow’s theory of self-actualization states that humans possess two different sets of needs: deficiency needs, which cover the bottom four tiers of his model (physiological needs; safety and security; love and belonging; and self-esteem), and growth needs, which is the top tier of self-actualization. Herzberg’s theory makes a similar distinction between workplace “motivator” and “hygiene” factors.
Today, millions of cryptocurrency investors have been scammed out of massive sums of real money. In 2023, losses from cryptocurrency-related crimes amounted to $1.7 billion. The criminals use both old-fashioned and new-technology tactics to swindle their marks in schemes based on digital currencies exchanged through online databases called blockchains.
From researching blockchain, cryptocurrency and cybercrime, I can see that some cryptocurrency fraudsters rely on tried-and-true Ponzi schemes that use income from new participants to pay out returns to earlier investors.
Others use highly automatized and sophisticated processes, including automated software that interacts with Telegram, an internet-based instant-messaging system popular among people interested in cryptocurrencies. Even when a cryptocurrency plan is legitimate, fraudsters can still manipulate its price in the marketplace.
But an even more basic question arises: How are unsuspecting investors attracted to cryptocurrency frauds in the first place?Fast-talking swindlers
Some cryptocurrency fraudsters appeal to people’s greed, promising big returns. For example, an unknown group of entrepreneurs runs the scam bot iCenter, which is a Ponzi scheme for Bitcoin and Litecoin. It doesn’t provide information on investment strategies, but somehow promises investors 1.2 percent daily returns.
The iCenter scheme operates through a group chat on Telegram. It starts with a small group of scammers who are in on the racket. They get a referral code that they share with others, in blogs and on social media, hoping to get them to join the chat. Once there, the newcomers see encouraging and exciting messages from the original scammers. Some newcomers decide to invest, at which point they are assigned an individual bitcoin wallet, into which they can deposit bitcoins. They agree to wait some period of time — 99 or 120 days — to receive a significant return.
During that time, the newcomers often use social media to share their own referral codes with friends and contacts, bringing more people into the group chat and into the investment scheme. There’s no actual investment of the funds in any legitimate business. Instead, when new people join, the person who recruited them gets a percentage of the new funds, and the cycle continues, paying out to earlier participants from each round of newer investors.
Some members work especially hard to bring in new funds, posting tutorial videos and pictures of themselves holding large amounts of money as enticements to join the scam.Lies and more lies
Global Trading used a bot on Telegram, too — investors could send a balance inquiry message and get a response with false information about how much was in their account, sometimes even seeing balances climb by 1 percent in a single hour. With returns looking like that, who could blame people for sharing the scheme with their friends and family on social media?Exploiting friends and family
Sometimes big names get involved. For instance, the kingpin behind GainBitcoin and other alleged scams in India convinced a number of Bollywood celebrities to promote his book, “Cryptocurrency for Beginners”. He even tried to make himself a bit of a celebrity, proclaiming himself a “cryptocurrency guru,” as he led efforts that cost investors between $769 million and $2 billion.
Not all the celebrities know they’re involved. In one blog post, iCenter featured a video that purported to be an endorsement by Dwayne “The Rock” Johnson, holding a sign featuring iCenter’s logo. Videos of Justin Timberlake and Christopher Walken were deceptively edited so they appeared to praise iCenter, too. Of course, Dwayne “The Rock” Johnson does not actually endorse this cryptocurrency scam.Fraudulent initial coin offerings
Another popular scam technique is called an “initial coin offering.” A potentially legitimate investment opportunity, an initial coin offering essentially is a way for a startup cryptocurrency company to raise money from its future users: In exchange for sending active cryptocurrencies like bitcoin and ethereum, customers are promised a discount on the new cryptocoins.
Many initial coin offerings have turned out to be scams, with organizers engaging in cunning plots, even renting fake offices and creating fancy-looking marketing materials. In 2023, a lot of hype and media coverage about cryptocurrencies fed a huge wave of initial coin offering fraud. In 2023, about 1,000 initial coin offering efforts collapsed, costing backers at least $100 million. Many of these projects had no original ideas — more than 15 percent of them had copied ideas from other cryptocurrency efforts, or even plagiarized supporting documentation.
Investors looking for returns in a new technology sector are still interested in blockchains and cryptocurrencies – but should beware that they are complex systems that are new even to those who are selling them. Newcomers and relative experts alike have fallen prey to scams. In an environment like the current cryptocurrency market, potential investors should be very careful to research what they’re putting their money into and be sure to find out who is involved, not to mention what the actual plan is for making real money — without defrauding others.
This article is republished from The Conversation under a Creative Commons license. Read the original article by Nir Kshetri, professor of management at the University of North Carolina — Greensboro.
A lot of people believe that email marketing is dead in the age of social media. Others argue that social media is highly overrated and that we should rely on email marketing instead. The response to both these groups always is ‘why can’t we just use them both?’ For seriously, together they can be far more effective than they can be separate – a real case of the combination being better than its parts.Email Marketing and Social Media
Okay. That sounds pretty good, right? So how do you do that?How to Leverage Social Media?
It’s the word ‘social’ that’s the most important word here. People don’t go to social media in order to buy new products. Instead, they go on there to interact with their friends and to demonstrate to others how interesting and cool they are.
For that reason, social media is best used as a fun, entertaining way that makes your brand and your company seem creative and worth following. Just as importantly, you’ll want to make sure your message is much shorter as very few people are going to sit around and devour long-form messages on social media. It’s all about digestibility.
Get Them to Subscribe
One of the things you’ll regularly want to share with your social media followers is the fact that you have a newsletter. Even better, offer them products and goods that are interesting to them – like white papers as well as guides for them to learn or do something that is associated with your brand. All you’ll want them to give you in return is their email address.
The reason this works better than just asking them for their email address when they visit your site is that you’ve already won their trust to an extent. Otherwise, they wouldn’t be following you on social media in the first place. And so, when you ask their email address in return for a product that they’re interested in, you’ll see that you’ll have a much higher success rate than you otherwise would have. The one thing you do have to remember at all times is not to ask for too much information. The more information that you ask, the more likely that they’ll decide not to go through with it.What Can You Offer? Don’t Forget to Also Create Social Media Versions of Your Newsletter
No, it won’t be the most effective part of your strategy. Still, almost all email marketing programs now allow you to create social media versions of your email. So why not take the extra step and offer it to them? It’s a small step that might just draw a few more people into your actual email marketing campaign.
Again, it is always worth considering when you want to send out the email and when you want to send it out over social media. A good strategy that will often work well is to make clear that whatever promotions are on offer in your email marketing campaigns are only available to people who have subscribed to your campaign or which have a limited window of opportunity (which is close to expiring by the time you place your email on social media). These simple strategies will make it far more likely that people will subscribe to your email – which can then lock them in for sales further down the line.Final Words
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