Thanks Miguel, I’m saving this resource…

Thanks Miguel, I’m saving this resource.
I was interested in learning more about AI use in marketing because I was aware of the strategic edge AI may bring to a firm in regard to understanding customers needs, consumer sentiment analysis, changes in competitor behaviors etc…
So I read the following article” From data to action: How marketers can leverage AI”.
You are right, I gained some useful insights.

Some highlights of what I learned:

I learned about the foundational aspects of AI implementation in a firm: data, human capital and software.
1) For data, we can use the DIKW pyramid which describes “the hierarchical relationship between Data, Information, Knowledge, and Wisdom. At the base of the pyramid, firms must first have or develop certain foundational abilities to collect data. From here, AI and ML functionality transforms useful and relevant data into information. This information, when blended with context, expertise, and intuition, becomes knowledge. Finally, wisdom adds value, which requires the mental function of judgment ”

2) Human capital needed to implement Ai in a firm: AI requires skilled data scientists (often statisticians) but also managers who have deep business and strategic knowledge and software engineers

Once these foundations are in place, the firm may start developing an AI orientation within their culture.
Some examples of current use of AI in marketing: developing pricing strategy,planning direction, objectives, and marketing support, segmenting and positioning, developing marketing communications and influence strategy…