Artificial intelligence is such a complex and rapidly evolving technology that it can sometimes be difficult to imagine the practical applications it could have. Some of the world's most successful brands have already been using AI for several years and are reaping the rewards in terms of profits, brand reputation and visibility.
Amazon was one of the first companies to pioneer personalized shopping recommendations and, over the years, their algorithms have become increasingly sophisticated. Suggestions are now based not only on previous purchases, but also on items that other customers have bought, search and browsing behavior, among many other factors.
Amazon also uses artificial intelligence to boost prices dynamic - reducing prices to obtain more sales when necessary and increasing prices when demand is high. The algorithm enables optimal sales and revenue automatically.
As a leader in the use of technology, Amazon has opened physical stores without checkout in Seattle, Chicago and San Francisco, which have sensors and cameras powered by AI. This technology can tell exactly which items a customer has put in their shopping cart and automatically charge them when they leave the store using the Amazon Go app.
The company is even joining the trend of using AI in the fashion industry with the Echo Look - a personal stylist AI-driven algorithms that use the machine learning to suggest individual clothing recommendations, thus driving more sales of clothes, shoes and accessories.
The Economist is a widely respected digital publication, but around 2016/2017, its readership began to decline.
The publication used the AI-driven programmatic advertising process to its advantage, buying and selling targeted ads autonomously. By using this process to collect and analyze consumer data in detail, The Economist was able to identify a segment of its audience that it considered to be non-loyal readers.
When analyzing the use web and apps autonomously, it was possible to detail specific reading habits or preferences and, as a result, find better ways to approach potential customers online. Furthermore, by focusing on matching cookiesWith the help of a series of data sets, subscribers and additional data sets to discover new segments and define segments, the publication has managed to produce a series of positive results that have served to increase its readership levels.
In short, this innovative campaign encouraged 3.6 million new readers to engage with the publication, achieving an overall return on investment of 10:1 from the initial wave of revenue generated from these prospects.
This new data-driven, AI-centered business model has consolidated the continuous growth in subscribers since 2017, with an increase of 9% (90,000 new loyal subscribers) only from 2020 to 2021 - an impressive achievement in challenging times.