The Good, the Bad, the Ugly, and the Future: Gen AI’s Impact on Customer Trust and Business Growth

Driving the agenda at this year’s MoEngage #GROWTH Summit London was the stratospheric rise of generative AI and its impact on the marketing industry.

Gathered to share their experiences and discuss the technology’s effect on customer trust and business growth was a panel comprising of: Gian Luzio, Digital Director at Travelodge; Indi Pollard, Head of Growth Marketing at Blockchain; Jason Adae, UKI Technology Partner Sales Leader at AWS; and Akshit Khandelwal, Senior Product Manager at Booking.com.

The panel was unanimous in its agreement that generative AI was a ‘no-brainer’ for companies to experiment with.  Speaking of how their businesses had tested AI tools in different contexts, they pointed to the huge opportunity it presents by putting innovative tech-driven applications into the hands of non-tech users.

However, they also warned against getting derailed by the opportunity as the technology can quickly become very expensive if not properly managed.  There was also concern about the potential security issues around these platforms.  Having a comprehensive data strategy was deemed crucial.  While ChatGPT data is not ring-fenced, the panel agreed that smart brands would always ensure their customers’ data was always protected.

Jobs won’t be lost to AI, just transformed

When asked if Gen AI would potentially threaten marketing jobs, the panel was optimistic and explained that “the tools work by people using them, the way we work will evolve as a result.”  They all agreed, however, that these tools would change the working environment just as the internet had, but they emphasised the importance of how these “digital brains had been specifically designed to intermingle with human brains” to be successful.  As a result, jobs would not be lost, just transformed.

AI and customer transparency 

Being open and honest with customers as to when Gen AI is used in marketing interactions was considered crucial.  Akshit Khandelwal at Booking.com explained that when the business launched an AI-based Trip Planner, they clarified to customers the role that AI was contributing to the recommendation engine.

One major marketing opportunity the panel identified for Gen AI was around data platform modernisation.  With the demise of third-party cookies and restrictions on using mobile identification for ad targeting, companies are having to reevaluate their data strategies with a focus on unifying 1st party data channels from disparate platforms including ERPs and CRMs.

A force bigger than the internet

When asked if Gen AI would be bigger than the internet, they wholeheartedly agreed that while the technology has the potential to be huge, 90% of its capability is not accessible to normal people!

Travelodge, Blockchain, AWS and Booking.com were speaking at MoEngage’s #GROWTH Summit in London, the event that brings together the leading voices and sharpest minds in marketing and commerce: #GROWTH Summit London 2023 Recap: The Inspiring Stories of Liz Earle, Avon, and Sweatcoin | MoEngage

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