Growth strategies that prioritize extracting value from customers are no longer effective. Instead, the key lies in maximizing value for both customers and buyers to generate value for the business. Brands need to propel growth by aligning crucial revenue-generating and technology functions around the concept of customer value.

In 2024, a year that demands bold exploration of the most influential technology since the internet—generative AI—will also witness other crucial dynamics. Economic uncertainty, declining employee engagement, and the introduction of a groundbreaking self-service developer portal are all on the horizon for the coming year.

According to Forrester, companies actively leveraging generative AI (genAI) to enhance experiences, offerings, and productivity are poised for significant growth, outpacing their competitors. 

The period from July to September 2023 witnessed a remarkable surge in enterprises transitioning from experimentation to expansion in implementing genAI, reaching an adoption rate of 71%, one of the fastest mass adoption rates for a new technology in the enterprise.

However, achieving success with genAI demands comprehensive enterprise support and the transformation of technology challenges, such as BYOAI and coherent nonsense, into opportunities. To unlock the full potential of genAI, leaders should:

• Embed Trust in the GenAI Foundation: Establishing trust as an inherent element of the enterprise’s genAI foundation is crucial for sustained success. Companies that educate their employees and customers on the intricacies of privacy and security empower users to confidently and innovatively embrace this technology.
• Focus on Practical, Measurable Use Cases: Concentrate on practical and measurable genAI use cases that involve augmenting or transforming existing products, services, or business processes. In initial prototypes, prioritize projects that are employee-facing or involve offline generation rather than real-time generation with a chatbot.
• Invest in Continuous Upskilling: Successful genAI implementation requires ongoing upskilling for both employees and leaders. This encompasses technical skills and soft skills to transparently communicate the impact of genAI and foster understanding among employees.
• Leverage Business Data for Differentiation: While foundational models are potent tools, they are accessible to everyone. To create a competitive edge, organizations should build genAI models and applications using their own business data.

Srividya Sridharan, VP and Group Research Director at Forrester, emphasized, “Generative AI has the power to be as impactful as some of the most transformative technologies of our time.” 

The widespread adoption of generative AI has reshaped customer and employee interactions and expectations, elevating AI initiatives from optional to foundational components of competitive roadmaps. Forrester’s research aims to guide business and technology leaders in utilizing genAI for a sustained competitive advantage.

Businesses will pivot around generative AI, utilizing it as the cornerstone to elevate, enable, and involve both employees and customers. Stay at the forefront by keeping abreast of Forrester’s dynamic analysis, unraveling the ways in which generative AI is set to revolutionize everything, from your business landscape to your individual role. Comprehend the associated risks and rewards to navigate this transformative technology effectively.

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Stagwell Marketing Cloud’s PRophet, a Generative and predictive AI SaaS platform built by and for PR professionals, unveiled two new platform capabilities – AI-driven influencer discovery and campaign management and machine learning-based news monitoring.

PRophet Earn, Influence, and Monitor are three offerings that can work together or as standalone solutions that exponentially increase the value and accessibility of the PRophet platform to communicators and marketers alike. 

“These new tools will help agencies and brands now leverage our proprietary AI for influencer discovery and management and advanced news monitoring and analysis,” says Aaron Kwittken, Founder and CEO of PRophet, and CEO of Stagwell Marketing Cloud, Comms Tech Unit. “PRophet is the only marketing solution that combines this holistic but agile, customer-centric approach in an intuitive, measurable and affordable user experience.”

PRophet Influence

PRophet Influence is a critical tool for brands looking to leverage the $21 billion influencer marketing industry more effectively. PRophet Influence combines Generative AI, data analytics, and monitoring technology to create personalized influencer marketing programs by identifying, contracting, and collaborating with macro and micro influencers, finally empowering brands to increase awareness in a world where traditional media has been upended. PRophet Influence is powered by Koalifyed, an influencer discovery and campaign management platform currently being used by some of the world’s largest CPG brands.

PRophet Monitor

PRophet Monitor, powered by partner PeakMetrics, the machine-learning-powered media monitoring and narrative analytics platform, introduces the ability to create personalized alerts across a diversity of media channels from within the PRophet platform. Alerts can be customized based on refined search criteria, including a combination of keywords, organizations, and people, and users can then choose to receive regular email notifications to ensure they never miss a mention.

PRophet Earn

PRophet Earn builds on the existing PRophet platform, which uses a combination of AI, language processing and machine learning to generate, analyze and test new content — from pitches to social posts, blogs and biographies — to predict earned media interest, reach and sentiment. Users have access to the full suite of existing media relations tools, including Taylor, the industry’s first Generative AI writing tool, the multi-pitch tool which can generate 25 personalized pitches in under three minutes, and biography and blog generators.

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