AI Meets Advertising
42% of survey participants in CardLinx’s annual Card-Linking & O2O Industry Survey responded that AI Assistants are the most promising platform for new digital advertising technology. The other options were: home appliances, smartwatches, wearables other than watches and cars.
Artificial intelligence (AI) conjures images from popular culture such as HAL from 2001: Space Odyssey to Baymax from Big Hero 6, but AI of today comes to us in the form of voices from AI assistants on our computers, smartphones and home speakers with names like Bixby, Cortana and Siri. These AI assistants combine powerful data analysis, voice recognition, personalization and according to our recent Card-Linking & O2O Industry Survey: they are also the future of payments.
The acquisition of CardLinx member Whole Foods by Amazon intensifies the discussion and development of AI and how technology and automation may enter into our every day lives. According to a McKinsey report, as an emerging technology
“…AI is finally starting to deliver real-life benefits to early-adopting companies. A confluence of developments is driving this new wave of AI development. Computer power is growing, algorithms and AI models are becoming more sophisticated, and, perhaps most important of all, the world is generating once-unimaginable volumes of the fuel that powers AI—data…The entrepreneurial activity unleashed by these developments drew three times as much investment in 2016—between $26 billion and $39 billion—as it did three years earlier.”
This drive and new capacity for increased data is also powering innovation in the card-linking and O2O industries. Smartwatches, smartphones and soon to be payment-enabled cars are collecting contextual data about how we work, play and spend money. And this data in turn will enable the CLO ecosystem to create even better, more personalized, offers and loyalty benefits for consumers. In the future, the cloud may not just mean the data that exists in data servers, it many come to mean the data all around us.
For a copy of the full survey, click here.