AI Personalisation is actively being used by businesses to understand the preferences of their clients.
Key Highlights
- Amazon uses Artificial Intelligence to suggest products based on user’s behaviour.
- Travel itineraries are being personalised for clients by travel companies using AI.
- Customers stop buying from businesses with poor personalisation, according to a TCS report.
One of the persistent problems businesses face is the inability to grasp the changing preferences of their existing clients and potential customers.
However, they have a potential recourse to this predicament.
Artificial Intelligence, with its ability to target clients with hyper-personalisation addresses the concerns emanating from the dynamic nature of the human psyche.
Moreover, businesses across the globe are leveraging the capabilities of Personalised AI and Machine Learning to target customers.
Take for example Amazon, which understands your shopping preferences and interests to suggest you products that you may be interested in buying.
Or, Spotify, which analyses the songs you’ve listened to in order to suggest songs pertaining to the same or similar genre.
Personalisation through AI is also helping customise their advertising efforts.
Businesses are actively studying user preferences according to their geographical and social location to market their products.
According to a report by Twilio, around 92% of businesses in the US have embraced Artificial Intelligence, as customers show more loyalty through personalisation.
The same report reveals that around 60% businesses believe that personalisation can help acquire new customers.
AI Personalisation in India
One application of personalisation through AI in India is the hospitality industry.
Travel companies are providing hyper-personalised itineraries to customers based on their preferences and reviews of places.
Similarly, predictive AI is being used to suggest travel destinations to customers.
Apart from that, Artificial Intelligence can help understand the drive-up customer engagement on the platform, with notifications customised to the user’s journey.
A research paper by TCS mentions that leveraging AI to deliver hyper-personalised content could increase customer engagement and retention.
It further cites that consumer surveys to contend that customers stop buying from businesses that have poor personalisation.
However, as Generative AI and Machine Learning gain traction in various industries, concerns about data privacy cannot be ignored, especially when the country is yet to finalise the overhauling of the extant IT Act.
