What are the 3 Types of AI:
Mechanical AI, Thinking AI, and Feeling AI
What does mechanical AI do?
Automates repetitve and routine tasks for standardization and consistency.
What does thinking AI do?
Processes data, recognizes patterns in unstructured data.
What does feeling AI do?
Recognizes and responds to humans & human emotions, enhances customer relations and service.
What are the 4Ps of marketing?
- Product
- Price
- Place
- Promotion
What are the 4Cs of business?
- Consumer
- Cost
- Convenience
- Communication
What can AI systems to aid with business functions?
- Generate Large Volumes of Data
- Disseminate Information Quickly
- Manage Data Efficiently
- Enhance Decision Making
- Create Detailed Reports and Insights
How can AI and Predictive Analytics work together?
Predictive analytics, combined with AI can optimize ad spending by targeting the right audience segments most likely to convert to sales.
What aspects of Walmart’s operations are enhanced using AI?
- Data Collection and Analysis
- Efficiency and Automation
- Reducing Waste and Improing Sustainablility
How does Walmart employ AI in Data Collection and Analysis?
Massive Data Integration: integrating both data collected in-house and externally, and processing this in real time.
Predictive Analytics: demand forecasting, and seasonal (and other) trend analysis.
How does Walmart employ AI in Efficiency and Automation?
Automated Replenishment: inventory monitoring and supplier coordination.
Optimization Algorithms: optimizing shelf space for product visibility and customer convenience, and dynamic pricing.
How does Walmart employ AI in Reducing Waste and Improving Sustainability?
Expiry and Waste Management: tracking the shelf life of perishable goods and reducing waste.
Logistics and Distribution: optimizing delivery routes and warehouse automation (robotics, etc.)
What is Walmart’s Eden?
Eden is the main AI used for walmarts data, efficiency and sustainability goals.
What does AI do in the digital advertising space?
- Marketers use AI to place ads more strategically.
- More targeted discount offers.
- Tailored product recommendations and promotions for individual customers.
Define AI:
Systems or machines that can perform tasks typically requiring human intellegence (learning from data, making decisions, predicting future outcomes).
What are the key areas of AI in Marketing?
- AI driven customer insights
- Measuring marketing performance
- Automated marketing strategies
- Enhancing customer experiences
- Ethical implications
- Growth opportunities with AI implementation
List some concerns with AI in marketing:
- Data privacy and usage
- Biases in training data for AI
- Fairuse and transparency in AI algorithms and training data
What is a future trend of AI in marketing?
AI mixed with AR (augmented reality) could lead to immersive marketing experiences or AR powered ads based on your surroundings.
