Machine Learning having transformative impact on business: iProspect

iProspect has released their third annual 2018 Future Focus whitepaper, which is geared to examine how machines and technology are impacting marketing and advertising in the year ahead. The paper takes a look at how brands can make the most of machines in 2018, from facilitating seamless consumer experiences to delivering greater efficiencies. 

iProspect interviewed 250 of their global clients, including FTSE 100 and Fortune 500 companies, and used the real-time feedback to outline key insights and priorities necessary for businesses to thrive in our fast moving, high expectation digital economy. 

Feedback shows that the transformative impact of Voice, AI, and Machine Learning is being felt across the entire business landscape, with 55 per cent of marketers surveyed agreeing that Machine Learning will allow them to make better decisions in 2018. 56 per cent of the marketers surveyed highlighted “effectively managing large data sets to deliver personalisation and relevant one-to-one experience” as their main priority in 2018. 

“Advances in Machine Learning will allow for greater effectiveness and efficiency in marketing communications, freeing both marketers and agencies to focus on adding strategic value,” said Shenda Loughnane, Global Chief Strategy Officer, iProspect. “Brands will need to understand how to balance the human vs. machine elements of their business in order to leverage the full value of both.” 

“In an increasingly complex digital economy, Machine Learning is set to play a pivotal role in our ecosystem. In India, we are already feeling these forces of change – driving better data understanding, enabling personalised conversation at scale and delivering greater efficiencies. We are at an inflection point where brands need to learn how to marry human capital and machines in order to succeed in the transformation that lies ahead,” said Rubeena Singh, CEO, iProspect India. 

Building on iProspect’s 2017 research looking at business growth in the digital economy, the 2018 Future Focus whitepaper discusses the new machine rules, including: 

  • Enhanced Customer Experience: Closing the gap between consumer expectation and brand reality. 
  • Digital Assistants are the New Gatekeepers: The dynamic between brands and digital assistants. 
  • AI & Machine Learning Transform Marketing: The powerful impact that can be unlocked by brands who have effectively leveraged joint human and machines strategies. 
  • Commerce Everywhere: The shrinking distance between inspiration and conversion, and the shift from discovery to transaction. 
  • The Rise of Amazon, the Everything Store: Mastering the new marketplace to stand out. 

In this latest edition, iProspect share their perspective on how brands can make the most of machines in 2018, driving improved commerce results as well as accuracy and efficiency.


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