AI: The New Marketing Playbook
In 2023, we are expected to create 120 zettabytes of data. (For those that don’t know how to quantify a zettabyte of data, it would take 5 trillion books to contain this information. If we stacked these books on top of each other we could travel around the world 316,911 times.)
In other words, we’re facing an explosion of data — and it’s only just begun: 90% of all data in the world was just created within the last 2 years.
This eruption of data creates a challenge for brands — and especially in financial services.
In the past, customers walked into a physical branch or insurance agent’s office, and there were only so many options — and only so many signals competing for the customer’s attention. Now, customers can read online reviews, scan product comparisons, and determine the place to get the best offerings even before they leave their couch. We compete on so many fronts to win each customer’s attention, trust, and loyalty.
Today, customers search for — and find — more information than ever across an exploding number of digital touchpoints. Financial services and insurance brands need to keep all of this information correct and consistent, while also structuring it in a way that allows them to personalize the answers to complex customer questions online.
The good news? With rapid advances in AI, businesses have a new tool in their toolbox — provided that they can learn how to properly take advantage. Today, large language models (LLMs) can answer sophisticated questions and provide information to resolve problems.
