AI buzz continues, but 2024 shifts focus from playful exploration to tangible results. Join us as we delve into “The Great Reconciliation”: standardizing tools, integrating AI into processes, and demanding proven ROI.
With the abundance of discussions and written content around artificial intelligence (AI) in 2023, one might assume it was a recent invention, but that couldn’t be further from the truth. AI has become unavoidable in marketing technology, advertising, and everyday conversations.
While some of the excitement surrounding AI is well-founded, it’s important to separate the genuine advancements from mere hype. Numerous companies have invested in AI-based tools, methods, and technologies, aligning them strategically with their organizational objectives. However, there have also been instances of impromptu and tactical investments, resulting in unclear outcomes or limited dissemination of knowledge throughout the organization.
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As we reflect on 2023, it becomes evident that it was a year of experimentation with AI, ranging from playful interactions with ChatGPT to imaginative creations with DALL-E. However, in 2024, it’s time for The Great Reconciliation—an amalgamation of scientific experiments and cohesive alignment with larger goals, budgets, and workstreams. It’s time to shift our focus from playing with AI to getting tangible results.
In this article, I will delve into three essential ways The Great Reconciliation will unfold. Furthermore, we explore the reasons why this harmonization is not only necessary but also a tremendous step forward. Get ready for an engaging exploration of the future of AI and its impact on various domains.
Ad hoc trials become more standardized features
In the rapidly evolving landscape of AI-based platforms, it is crucial to acknowledge the challenges individuals and teams face to keep pace with the multitude of possibilities offered by text, image, video, audio, and design generation. As of June 2023, there were over 18,500 AI startups in the United States alone; the magnitude of available options is astounding. Though I have explored a considerable portion of these ventures, I know that my endeavors only begin to scratch the surface, even after investing significant time in experimentation.
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In large organizations, where multiple team members explore different tools, the consequence is a plethora of trials initiated, numerous duplicate evaluations conducted, and occasionally, missed opportunities for collaboration and knowledge sharing from such endeavors.
Furthermore, established marketing platforms like Adobe, Hubspot, and Salesforce, traditionally known for their valuable contributions (yet not known specifically for artificial intelligence at the core), have also ventured into AI-based tools. These platforms now incorporate generative AI features, ranging from chat interfaces to innovative elements. Admittedly, introducing new features by existing platforms may be met with varying outcomes – sometimes impressively effective, while others less so. Yet, the perceived risk is often lower in adopting AI tools from established players instead of venturing into uncharted territories with fledgling startups. Consequently, decision-makers favor the former, even if it means sacrificing groundbreaking innovation for safety and reliability.
Looking ahead to 2024, we foresee a scenario where the once chaotic landscape of numerous platforms will be consolidated into a select few, regarded as the go-to tools of choice. Moreover, organizations heavily invested in existing platforms now equipped with AI capabilities are likely to encourage their teams to utilize these resources, irrespective of the quality of the results.
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Be prepared to witness a transformative shift as the AI realm evolves, fostering a new era of accessible and dependable tools and establishing a foundation for groundbreaking advancements.
Initial forays become operationalized processes
In 2023, the revolutionary rise of AI-based tools led to a wave of experimentation and attention. This inevitably impacted existing processes and shaped the future landscape. Astonishingly, a study unveiled that almost a quarter of individuals admitted to covertly leveraging ChatGPT at work due to a lack of clear company policies on generative AI usage. Pioneering work with AI tools largely circumvented established procedures or operated with minimal disruptions.
Notably, the influence of AI-based tools on marketing has demanded significant process changes. Especially in areas like personalized marketing across channels, e-commerce, and similar domains, more than ad hoc approaches is needed. Yet, the utilization of AI has predominantly been confined to isolated systems and makeshift implementations.
However, as we embrace 2024, a paradigm shift emerges. The whimsical “anything goes” approach towards integrating AI-based tools into existing processes steadily gives way to standardization. Companies, departments, and teams are firmly establishing AI policies, approved use cases, and innovative products. While this development may seem dreary to some, it marks a positive transformation for those hindered by a blanket “no AI” policy. Conservative organizations must reevaluate their stance and adopt a more nuanced approach.
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Prepare for a future where AI transcends boundaries and becomes an indispensable enabler. Soaking in the depth of evolving policies, we unravel limitless possibilities and unlock the true potential of AI-powered innovation.
Pure experimentation gets grounded in a need for true ROI
Regarding initial experiments with novel platforms from startups that emerged less than six months ago, it’s safe to assume that a significant amount of trial and error was involved. Metrics and key performance indicators took a backseat to essential questions like “Does this platform even work?” or “Will it consistently meet our needs?”
Naturally, this doesn’t apply to all AI applications, especially those substantially impacting sales or revenue-related activities. However, when AI usage was incorporated behind the scenes or seamlessly into existing workflows, the focus on measurement was often minimal, even in terms of time and cost savings.
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Moving into 2024, organizations that still need to shift their attention toward evaluating employees’ AI usage will face a jarring contrast. The AI experimentation honeymoon phase will fade away as managers and leaders demand more concrete returns on investment from the tools utilized by their teams. The goal will be generating more revenue, saving more money, or, ideally, achieving both. The days of uninhibited experimentation will be tempered by a return to cost-benefit analysis aligned with conventional practices. Prepare for an exciting evolution!
