AI Archives | ASK BOSCO® https://askbosco.io/blog/category/ai/ Wed, 11 Dec 2024 14:31:37 +0000 en-GB hourly 1 https://askbosco.io/app/uploads/2024/10/favs.svg AI Archives | ASK BOSCO® https://askbosco.io/blog/category/ai/ 32 32 Elon Musk’s Disillusionment with OpenAI: From Open Source to Profit Focus https://askbosco.io/blog/ai/elon-musks-disillusionment-with-openai-from-open-source-to-profit-focus/ https://askbosco.io/blog/ai/elon-musks-disillusionment-with-openai-from-open-source-to-profit-focus/#respond Wed, 23 Oct 2024 10:36:20 +0000 https://askbosco.bubblestaging.com/?p=2967 During a recent interview with Jordan Peterson, Elon Musk, co-founder of OpenAI. Expressed concerns about OpenAi turning away from its ...

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During a recent interview with Jordan Peterson, Elon Musk, co-founder of OpenAI. Expressed concerns about OpenAi turning away from its original purpose of developing AI in a safe, transparent, and open-source manner.

Initially founded to counterbalance Google’s dominance online and ensure AI benefits all of humanity, OpenAI’s shift towards a profit-driven model has left Musk disillusioned, prompting him to consider legal action to address these changes.

The Founding of OpenAI

Elon Musk helped establish OpenAI out of concern for AI safety and the potential risks associated with its advancement. In discussions with Larry Page, co-founder of Google, Musk became increasingly worried that Page did not prioritize AI safety.

Musk believed that Google was becoming too dominant in AI research and wanted to create an organization to counterbalance that influence. OpenAI was founded as a nonprofit, open-source entity focused on ensuring AI advancements would benefit everyone, not just a few large corporations.

OpenAI’s Original Vision

Musk envisioned OpenAI as an open-source platform distinct from Google’s model. This approach aimed to make AI development transparent, allowing everyone to understand how AI works. The goal was to build trust and encourage ethical AI and its development.

By making AI research more accessible, Musk hoped to prevent a few powerful entities from controlling AI and potentially misusing it.

Shift Towards Profit

However, Musk has recently grown frustrated as OpenAI shifts away from its nonprofit roots toward a profit-driven model. He believes this shift contradicts its founding principles, worrying that the focus on profits might prioritize short-term gains over long-term benefits.

Musk is particularly concerned about recent changes at OpenAI, including the departure of key people who supported its original mission. He invested nearly $50 million in OpenAI without retaining any ownership, shares or control. And now sees OpenAI as a profit-focused company reportedly valued at over $100 billion.

Legal and Ethical Concerns

This significant shift has prompted Musk to consider legal action, to understand how OpenAI has diverged so drastically from its original mission. He believes this change should be transparent, both legally and ethically.

Concerns About AI’s Future

Beyond organizational issues, Musk voices broader concerns about the future of AI development. He worries that AI could adopt extreme ideologies or produce biased outcomes, potentially leading to harmful consequences. As AI systems grow more powerful, the risk of them enforcing harmful beliefs or actions increases. This potential harm has come to light recently with Googles AI Overview. After a user typed in the query “what do I do if I’m feeling depressed?”.  AI Overviews’ response was (from retrieving information from Reddit) “one Reddit user suggests jumping off the Golden Gate Bridge”. This example shows that AI still has a long way to come in responding to questions which require empathy and understanding within responses.

Musk’s reflections raise important questions about the future of AI. His vision for OpenAI was rooted in transparency and ethics, and the shift towards profit highlights the tension between financial incentives and ethical AI development.

As Musk explores ways to address these issues, including potential legal action, his experience with OpenAI underscores the delicate balance between innovation, ethics, and profit in AI development. For more information about the legalities and ethical implications surrounding AI in marketing, read our recent fireside chat here.

Watch the full interview here.

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What is OpenAI’s new Project Strawberry? https://askbosco.io/blog/ai/what-is-openais-new-project-strawberry/ https://askbosco.io/blog/ai/what-is-openais-new-project-strawberry/#respond Wed, 23 Oct 2024 10:35:56 +0000 https://askbosco.bubblestaging.com/?p=2965 OpenAI has consistently been at the forefront of artificial intelligence (AI) innovation, pushing the boundaries of what AI can achieve. ...

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OpenAI has consistently been at the forefront of artificial intelligence (AI) innovation, pushing the boundaries of what AI can achieve. Their latest initiative, Project Strawberry, is no exception. While still shrouded in some mystery, Project Strawberry is poised to be a significant step forward in AI development, with potential implications across various industries and sectors.

What is Project Strawberry?

Project Strawberry is OpenAI’s code name for a new AI initiative. Aimed at enhancing the accessibility, efficiency, and impact of AI technologies. Although specific details are still under wraps. Insiders suggest that Project Strawberry represents a shift toward more user-friendly AI systems that can be integrated into everyday applications.

The project appears to focus on improving the adaptability and flexibility of AI. Making it more responsive to diverse user needs. This may involve advancements in natural language processing, machine learning, or even the development of new AI frameworks that are more intuitive and less resource-intensive.

Key Features and Goals

User-Centric Design

One of the primary goals of Project Strawberry is to make AI more accessible to non-technical users. This could mean developing interfaces that allow users to interact with AI without needing to understand complex coding. Imagine a world where AI can be seamlessly integrated into any business or personal workflow, enhancing productivity without the need for specialized knowledge.

Scalability and Efficiency

Scalability has always been a challenge in AI development, particularly when it comes to deploying AI systems in resource-constrained environments. Project Strawberry is expected to tackle this issue head-on, possibly by creating AI models that are both smaller and more efficient, yet still capable of performing complex tasks.

Ethical AI

OpenAI has always emphasized the importance of ethical considerations in AI development. With Project Strawberry, this commitment is likely to continue. Focusing on creating AI that is not only powerful but also safe, transparent, and aligned with human values. This could involve new frameworks for ensuring that AI systems are fair, unbiased, and respect user privacy.

Integration with Existing Technologies

Another potential aspect of Project Strawberry could be its integration with existing platforms and technologies. This would allow businesses and developers to enhance their current systems with advanced AI capabilities. This integration could make AI more practical, enabling more industries to leverage AI for innovation.

What Does Project Strawberry Mean for the Future?

Project Strawberry could signal a new era in AI development, one where AI is not only more powerful but also more accessible and ethical. For businesses, this could mean easier adoption of AI technologies, leading to increased efficiency and creativity. For users, it could mean more intuitive AI tools that can assist with everything from daily tasks to more complex decision-making processes.

While many details of Project Strawberry are still under wraps, the initiative represents a promising step forward in the evolution of AI. It underscores OpenAI’s mission to ensure that AI technology is beneficial and accessible to all. As we all await more information, it’s clear that Project Strawberry could have far-reaching implications for how we interact with and harness the power of artificial intelligence in the years to come.

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Why AI can never replace real branding https://askbosco.io/blog/ai/why-ai-can-never-replace-real-branding/ https://askbosco.io/blog/ai/why-ai-can-never-replace-real-branding/#respond Mon, 30 Sep 2024 10:52:44 +0000 https://askbosco.bubblestaging.com/why-ai-can-never-replace-real-branding/ Steve Edge, self-proclaimed ‘Madman, Prophet, Wanderer’ and founder of renowned branding agency ‘Steve Edge Design’ delighted our guests at ASK […]

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Steve Edge, self-proclaimed ‘Madman, Prophet, Wanderer’ and founder of renowned branding agency ‘Steve Edge Design’ delighted our guests at ASK BOSCO® Live.   His journey from a dyslexic child with a love for glitter markers to a renowned branding expert is a remarkable story of passion, creativity, and perseverance.  Here we have summarised the key points of Steve’s talk but to get the full ‘Steve effect’ we highly recommend that you scroll to the bottom of the page to view his video or head to our Youtube channel.  NB: please be aware that the video includes some swearing.

From Glitter Markers to Global Brands: The Story of Steve Edge

Steve Edge is a man who transformed his childhood passions into a remarkable career in branding and design. His story is a testament to how creativity, determination, and a bit of serendipity can lead to extraordinary success…. here’s what Steve had to tell us…

The Magic of Childhood

Steve’s journey begins at the tender age of four. Three pivotal experiences shaped his early years:

Discovery of Creativity: Steve found glitter magic markers and plastic scissors. This simple yet profound discovery ignited a lifelong passion for creativity. Every day since then, he joyfully skipped into his studio with his glitter markers and scissors, ready to create.

Fishing with His Father: Growing up in the East End, Steve’s father introduced him to the joys of fishing. This connection to nature provided a grounding contrast to his burgeoning creative spirit.

Early Education and Learning Difficulties: Steve’s formal education was unconventional. Sent to school but quickly labeled as wild and untamable, he was fortunate to have a family friend, Valerie, who was a learning difficulty teacher. Valerie recognized Steve’s severe dyslexia and offered to home-school him. This personalized education allowed Steve to thrive outside the traditional school system.

Hands-On Learning

Valerie’s husband, Dennis, was head of IPC magazines and had a well-equipped workshop at home. This workshop became Steve’s playground. From a young age, he learned practical skills like woodworking, sewing, and varnishing. By the age of five, he even had his own sewing machine, thanks to his supportive mother.

First Foray into Publishing

At 12, Steve’s talent was recognized in a magazine called “Look and Learn,” where he contributed monthly articles. By 13, he was required by law to attend school. Dennis’s recommendation landed him in a prestigious art school, where he flourished and won the European Artist of the Year award at 15.

The Muppet Show and Beyond

Winning this award led to an incredible opportunity to work with Jim Henson and Frank Oz on “The Muppet Show.” For two years, Steve was surrounded by celebrities and immersed in the creative process of one of the most beloved shows of all time. This experience was a dream come true, but the best was yet to come.

A Galaxy Far, Far Away

At 17, Steve was introduced to George Lucas. Unfamiliar with Lucas’s work, Steve soon found himself in the art department of a groundbreaking project: “Star Wars.” He contributed to the creation of iconic elements like the Millennium Falcon and worked on the “Empire Strikes Back” and “Raiders of the Lost Ark.”

Creating Iconic Brands

At 23, Steve decided to forge his path. He founded his branding agency, drawing on his experience in storytelling and visual design. His approach was unique: he believed in creating brands that were inspirational and memorable rather than purely informational.

The Power of the Logo

Steve’s work with major brands like Mason, Scansar, and Rob demonstrated his understanding of the power of a logo. A logo must be beautiful, memorable, and easy to use. It should tell a story and evoke an emotional response.

Lessons from History

Steve drew parallels from history to highlight the importance of branding. From ancient cave paintings to the medieval coats of arms, and the mass production era, he showed how logos have always played a crucial role in identity and trust.

Why AI Will Never Replace Real Branding

Steve is a firm believer that AI will never replace real branding. While AI can analyze data and generate designs, it lacks the human touch that makes branding truly impactful. According to Steve, branding is about emotional intelligence, passion, personality and deep, empathetic understanding – qualities that AI cannot replicate.

To sum up…

Steve’s philosophy extends beyond professional success. Inspired by his Aunt’s unused treasures, he vowed to live life to the fullest and dress for a party every day. He believes in celebrating life and making the most of every moment. In Steve’s words:  “Dress for a party and the party will come to you”.

Steve’s story ultimately encourages us to embrace our unique talents, tell our stories, and live life as a celebration.  And remember, while technology can assist in many ways, the heart and soul of branding will always be human.

Watch Steve’s 15-minute talk below:

 

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The rising tide of AI: key trends and insights for B2B technology providers in 2024 https://askbosco.io/blog/ai/the-rising-tide-of-ai-key-trends-and-insights/ https://askbosco.io/blog/ai/the-rising-tide-of-ai-key-trends-and-insights/#respond Mon, 23 Sep 2024 10:51:51 +0000 https://askbosco.bubblestaging.com/the-rising-tide-of-ai-key-trends-and-insights/ In a recent article by Gartner, studies have shown that artificial intelligence is no longer a niche technology. In 2023, […]

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In a recent article by Gartner, studies have shown that artificial intelligence is no longer a niche technology. In 2023, the number of AI software listings on Gartner Digital Markets nearly doubled, and AI product reviews increased by 2.5 times.

This rapid growth is a clear indicator that AI has captured the attention of software buyers and sellers like no other technology. To better understand buyer expectations and the future of AI, Gartner conducted a 2024 Software Buying Behavior Survey, gathering insights from 2,499 technology buyers. Based on this survey and Gartner’s research, four key AI software trends are shaping buyer behavior in 2024 and beyond.

Here’s what technology providers need to know to navigate the evolving AI market.

AI Investment Is Becoming a Business Imperative

In 2024, 92% of organizations plan to invest in AI-powered software, with 71% certain or extremely likely to do so. This highlights that AI is no longer optional; it’s becoming a necessity for businesses. Generative AI, popularized by tools like ChatGPT and DALL-E, are driving this widespread adoption due to their productivity and time-saving benefits. Gartner predicts that by 2027, generative AI will account for over one-third of AI software spending.

How is ASK BOSCO® evolving?

ASK BOSCO® has worked on developing and integrating AI features that enhance the core capabilities of our platform. Intuitive AI Reporting is our latest feature which allows users to ask reporting questions and receive quick insights and metrics displayed with real time data (displayed in customizable charts and graphs). Users can customize and build their own reports using this feature too.

AI as a Strategic Tool in Economic Uncertainty

Economic uncertainties are prompting businesses to turn to AI as a strategic advantage. According to Gartner’s survey, 61% of businesses plan to increase their technology budgets in 2024, with 92% focusing on AI-powered solutions. The driving force behind this trend is AI’s ability to streamline operations, optimize resources, and provide a competitive edge in challenging economic times.

How can ASK BOSCO® help?

Using statistical modelling and advanced machine learning, ASK BOSCO®’s Budget Planner tells you exactly where to spend your media budgets online. With 97% accuracy ASK BOSCO®’s Budget Planner can optimise your revenue with AI-based PPC & social media budget planning.

The Demand for Enhanced Functionality Is Growing

As businesses adopt new software, they’re increasingly looking for additional functionality, and AI can help meet these demands. According to Gartner’s survey, 61% of businesses plan to upgrade their recently purchased software to gain more features. AI tools, such as predictive analytics and automated reporting. Can transform existing products into indispensable tools that enhance customer satisfaction and loyalty.

What has ASK BOSCO® done to improve functionality?

Wev’e listened to customer feedback to identify the most desired functionality and suggestions for ease of use across the platform. We are always improving our ASK BOSCO® platform but from the 14th August, there’s a new navigation menu. Making it easier for you to access the tools you need. AI Reporting is our biggest update to date. Giving users the ability to instantly build reports by asking our intuitive AI to analyze your data using the ASK BOSCO® AI search feature.

AI Software Spending Will Continue to Surge

The AI software market is expected to grow from $124 billion in 2022 to nearly $298 billion by 2027. With a compound annual growth rate of 19.1%. This growth indicates significant opportunities for software providers who can effectively integrate AI into their offerings. Notably, the market for AI platforms and AI-enabled applications is not expected to saturate until 2027.

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Elon Musk’s Disillusionment with OpenAI: From Open Source to Profit Focus https://askbosco.io/blog/ai/elon-musks-vision-for-openai/ https://askbosco.io/blog/ai/elon-musks-vision-for-openai/#respond Tue, 27 Aug 2024 13:28:09 +0000 https://askbosco.bubblestaging.com/elon-musks-vision-for-openai/ During a recent interview with Jordan Peterson, Elon Musk, co-founder of OpenAI. Expressed concerns about OpenAi turning away from its […]

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During a recent interview with Jordan Peterson, Elon Musk, co-founder of OpenAI. Expressed concerns about OpenAi turning away from its original purpose of developing AI in a safe, transparent, and open-source manner.

Initially founded to counterbalance Google’s dominance online and ensure AI benefits all of humanity, OpenAI’s shift towards a profit-driven model has left Musk disillusioned, prompting him to consider legal action to address these changes.

The Founding of OpenAI

Elon Musk helped establish OpenAI out of concern for AI safety and the potential risks associated with its advancement. In discussions with Larry Page, co-founder of Google, Musk became increasingly worried that Page did not prioritize AI safety.

Musk believed that Google was becoming too dominant in AI research and wanted to create an organization to counterbalance that influence. OpenAI was founded as a nonprofit, open-source entity focused on ensuring AI advancements would benefit everyone, not just a few large corporations.

OpenAI’s Original Vision

Musk envisioned OpenAI as an open-source platform distinct from Google’s model. This approach aimed to make AI development transparent, allowing everyone to understand how AI works. The goal was to build trust and encourage ethical AI and its development.

By making AI research more accessible, Musk hoped to prevent a few powerful entities from controlling AI and potentially misusing it.

Shift Towards Profit

However, Musk has recently grown frustrated as OpenAI shifts away from its nonprofit roots toward a profit-driven model. He believes this shift contradicts its founding principles, worrying that the focus on profits might prioritize short-term gains over long-term benefits.

Musk is particularly concerned about recent changes at OpenAI, including the departure of key people who supported its original mission. He invested nearly $50 million in OpenAI without retaining any ownership, shares or control. And now sees OpenAI as a profit-focused company reportedly valued at over $100 billion.

Legal and Ethical Concerns

This significant shift has prompted Musk to consider legal action, to understand how OpenAI has diverged so drastically from its original mission. He believes this change should be transparent, both legally and ethically.

Concerns About AI’s Future

Beyond organizational issues, Musk voices broader concerns about the future of AI development. He worries that AI could adopt extreme ideologies or produce biased outcomes, potentially leading to harmful consequences. As AI systems grow more powerful, the risk of them enforcing harmful beliefs or actions increases. This potential harm has come to light recently with Googles AI Overview. After a user typed in the query “what do I do if I’m feeling depressed?”.  AI Overviews’ response was (from retrieving information from Reddit) “one Reddit user suggests jumping off the Golden Gate Bridge”. This example shows that AI still has a long way to come in responding to questions which require empathy and understanding within responses.

Musk’s reflections raise important questions about the future of AI. His vision for OpenAI was rooted in transparency and ethics, and the shift towards profit highlights the tension between financial incentives and ethical AI development.

As Musk explores ways to address these issues, including potential legal action, his experience with OpenAI underscores the delicate balance between innovation, ethics, and profit in AI development. For more information about the legalities and ethical implications surrounding AI in marketing, read our recent fireside chat here.

Watch the full interview here:

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What is OpenAI’s new Project Strawberry? https://askbosco.io/blog/ai/what-is-opneais-project-strawberry/ https://askbosco.io/blog/ai/what-is-opneais-project-strawberry/#respond Mon, 19 Aug 2024 09:42:12 +0000 https://askbosco.bubblestaging.com/what-is-opneais-project-strawberry/ OpenAI has consistently been at the forefront of artificial intelligence (AI) innovation, pushing the boundaries of what AI can achieve. […]

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OpenAI has consistently been at the forefront of artificial intelligence (AI) innovation, pushing the boundaries of what AI can achieve. Their latest initiative, Project Strawberry, is no exception. While still shrouded in some mystery, Project Strawberry is poised to be a significant step forward in AI development, with potential implications across various industries and sectors.

What is Project Strawberry?

Project Strawberry is OpenAI’s code name for a new AI initiative. Aimed at enhancing the accessibility, efficiency, and impact of AI technologies. Although specific details are still under wraps. Insiders suggest that Project Strawberry represents a shift toward more user-friendly AI systems that can be integrated into everyday applications.

The project appears to focus on improving the adaptability and flexibility of AI. Making it more responsive to diverse user needs. This may involve advancements in natural language processing, machine learning, or even the development of new AI frameworks that are more intuitive and less resource-intensive.

Key Features and Goals

User-Centric Design

One of the primary goals of Project Strawberry is to make AI more accessible to non-technical users. This could mean developing interfaces that allow users to interact with AI without needing to understand complex coding. Imagine a world where AI can be seamlessly integrated into any business or personal workflow, enhancing productivity without the need for specialized knowledge.

Scalability and Efficiency

Scalability has always been a challenge in AI development, particularly when it comes to deploying AI systems in resource-constrained environments. Project Strawberry is expected to tackle this issue head-on, possibly by creating AI models that are both smaller and more efficient, yet still capable of performing complex tasks.

Ethical AI

OpenAI has always emphasized the importance of ethical considerations in AI development. With Project Strawberry, this commitment is likely to continue. Focusing on creating AI that is not only powerful but also safe, transparent, and aligned with human values. This could involve new frameworks for ensuring that AI systems are fair, unbiased, and respect user privacy.

Integration with Existing Technologies

Another potential aspect of Project Strawberry could be its integration with existing platforms and technologies. This would allow businesses and developers to enhance their current systems with advanced AI capabilities. This integration could make AI more practical, enabling more industries to leverage AI for innovation.

What Does Project Strawberry Mean for the Future?

Project Strawberry could signal a new era in AI development, one where AI is not only more powerful but also more accessible and ethical. For businesses, this could mean easier adoption of AI technologies, leading to increased efficiency and creativity. For users, it could mean more intuitive AI tools that can assist with everything from daily tasks to more complex decision-making processes.

While many details of Project Strawberry are still under wraps, the initiative represents a promising step forward in the evolution of AI. It underscores OpenAI’s mission to ensure that AI technology is beneficial and accessible to all. As we all await more information, it’s clear that Project Strawberry could have far-reaching implications for how we interact with and harness the power of artificial intelligence in the years to come.

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What are the legal Implications of AI in Marketing? https://askbosco.io/blog/ai/what-are-the-legal-implications-of-ai-in-marketing/ https://askbosco.io/blog/ai/what-are-the-legal-implications-of-ai-in-marketing/#respond Mon, 29 Jul 2024 09:08:08 +0000 https://askbosco.bubblestaging.com/what-are-the-legal-implications-of-ai-in-marketing/ As a marketer using AI,  it’s essential to understand the legal implications of AI to mitigate legal risks.  At our […]

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As a marketer using AI,  it’s essential to understand the legal implications of AI to mitigate legal risks.  At our recent ASK BOSCO® Live event in London, we welcomed Kolvin Williams,  Technology and Data Lawyer from Fox Williams.  He joined our CEO John Readman for a fireside chat about how the rise of AI in marketing has brought about a wealth of opportunities and challenges. To view Kolvin’s full 15-minute fireside chat, scroll to the bottom of our page or head to our Youtube channel.

Key takeaways from Kolvin and John’s fireside chat:

1. ️ Understanding the Regulatory Landscape

– Existing Regulations: AI is not an unregulated space. Existing laws like the General Data Protection Regulation (GDPR) and the Equalities Act already cover aspects of AI. Particularly in automated decision-making and bias prevention.
– Upcoming EU AI Act: This new legislation will categorize AI systems into prohibited, high-risk, and low-risk categories. High-risk AI applications, such as those used in credit scoring, employment, and profiling for marketing, will face stringent requirements.
– UK and US Approaches: Unlike the EU, the UK and US are adopting a principles-based approach. Emphasizing high-level guidelines rather than strict legal frameworks, aiming to balance innovation with regulation.

2. Data Use: Ensuring Compliance

– Vast Data Requirements: AI systems require large amounts of data for training, which can lead to legal issues if the data is used without proper authorization.
– IP Infringement Risks: Unauthorized use of data for training AI can result in intellectual property (IP) infringement. Companies must ensure they have the rights to use the data, often necessitating clear agreements and licenses.

3. Intellectual Property (IP) Concerns

– Ownership of AI Outputs: The question of who owns AI-generated outputs is still unresolved. Agencies need to provide assurances to clients that AI-generated content does not infringe on existing IP rights.
– Input Data Compliance: Ensuring that the data used to train AI algorithms is obtained legally and with appropriate permissions is crucial to avoid IP disputes.

4. ⚖️ Mitigating Legal Risks

– Human Oversight: Implementing human oversight in AI decision-making processes helps manage bias and discrimination.
– Transparency and Explainability: Companies must ensure that AI systems are transparent and explainable to meet legal obligations.
– Robust Approval Processes: AI-generated content should go through the same rigorous approval processes as human-created content, including checks for IP infringement and accuracy.

5. Contractual Safeguards

– Specific Clauses for AI: Incorporating clauses in contracts to address AI-related risks, such as confidentiality, data usage, and IP ownership, provides clarity and protection for all parties.
– Developing AI Policies: Comprehensive AI usage policies and training programs for employees are essential to mitigate risks and ensure compliance.

What does the future look like?

In the future, when it comes to AI, we’ll see increased regulation at both national and international levels. The EU AI Liability Act, for example, will make it easier for individuals to sue companies for harm caused by AI.  As AI use increases there will also be litigation related to data use and IP infringement so companies need to be prepared for these legal challenges.  Finally there is a growing trend towards licensing data for AI training to ensure accuracy and compliance, moving away from relying solely on publicly available data.

To watch Kolvin’s full fireside chat, please see the video below:

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From insights to results: How AI supercharges SEO and PPC in eCommerce marketing https://askbosco.io/blog/ai/from-insights-to-results-how-ai-supercharges-seo-and-ppc-in-ecommerce-marketing/ https://askbosco.io/blog/ai/from-insights-to-results-how-ai-supercharges-seo-and-ppc-in-ecommerce-marketing/#respond Thu, 05 Oct 2023 12:39:53 +0000 https://askbosco.bubblestaging.com/from-insights-to-results-how-ai-supercharges-seo-and-ppc-in-ecommerce-marketing/ The eCommerce industry is witnessing a surge in competition, with businesses vying for customers’ attention and loyalty. In recent years, […]

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The eCommerce industry is witnessing a surge in competition, with businesses vying for customers’ attention and loyalty.

In recent years, the cost of acquiring new customers has skyrocketed, with the average cost per lead (CPL) increasing by 19% between 2021 and 2022. This exponential growth highlights the need for eCommerce retailers to improve customer engagement and conversion rates to stay ahead of the curve.

That’s why staying informed about the best tricks to maximise your eCommerce marketing impact is crucial for protecting your ROI. But here’s a secret to skyrocketing your profits even further: enhancing the shopper experience when they land on your site. By improving their journey, you can seize more opportunities and unlock greater growth.

As traditional marketing strategies struggle to keep up with the ever-changing digital landscape, artificial intelligence (AI) emerges as a game-changer in transforming the onsite experience and driving better ROI from marketing efforts.

Let’s explore how AI can revolutionise eCommerce marketing by enhancing customer experiences, optimising website elements, and streamlining merchandising and marketing strategies.

The power of dynamic landing pages

Static landing pages, despite being a staple in traditional marketing campaigns, often need to improve in delivering engaging and personalised experiences to users. These one-size-fits-all pages can lead to higher bounce rates and lower conversion rates as they fail to cater to the diverse preferences and needs of individual visitors.

In contrast, dynamic landing pages have the potential to overcome these limitations by adapting to each user’s unique interests and behaviour, resulting in a more tailored and engaging user experience. For instance, a dynamic landing page was found to convert 25.2% more mobile users, compared to a normal landing page.

Imagine this: You’re searching for the perfect pair of shorts to beat the July heat. Instead of generic product suggestions, you land on a dynamic page tailored to your interests. It showcases curated shorts that match your style and size, along with stunning sunglasses, a cool sunhat, and a trendy tank top to complete your look.

Using AI-driven algorithms, dynamic landing pages analyse user data to provide personalised content aligned with individual preferences. This results in an immersive, enjoyable shopping experience, increasing engagement, reducing bounce rates, and boosting conversion rates.

More and more companies are hopping on board this train and seeing major benefits.

For instance, Kitlocker, a leading online sportswear retailer, has employed dynamic landing pages to offer customised product selections and promotions. Similarly, Red Candy, a home accessories and decor retailer, has embraced dynamic landing pages to deliver a tailored shopping experience that aligns with individual customer preferences.

By offering customised product selections and promotions, they’ve created more engaging shopping experiences, resulting in higher conversion rates and increased customer loyalty.

Personalised recommendations for enhanced engagement

Personalised recommendations have become a must-have feature for any website hoping to keep visitors engaged and prolong their stay. After all, nothing drives us away from a website more quickly than irrelevant content. In fact, 38% of people will stop engaging with a website if the content is unattractive or irrelevant.

Fortunately, AI-based recommendation engines have revolutionised how we deliver tailored product suggestions. These engines eliminate guesswork and bias from the shopping journey, automate manual merchandising tasks, and deliver a dynamic experience that doesn’t require any maintenance.

For instance, Shopbox AI’s automated recommendation system helped SoyaConcept to enhance its brand values by delivering personalised product recommendations to visitors. As a result, they managed to increase conversions by almost 400%, demonstrating the immense potential that personalised recommendations hold in enhancing engagement and reducing the dreaded bounce rate.

The impact of AI on conversion optimisation is profound, as it allows businesses to better analyse and understand customer behaviour patterns.

By leveraging AI-powered tools such as A/B testing, heat mapping, and user journey analysis, companies can gain valuable insights into how users interact with their websites and make data-driven decisions to optimise website elements, ultimately driving higher conversion rates.

Thanks to AI-powered tools businesses can tap into a wealth of data insights — all in the name of increased website conversion rates. These tools help companies to create personalised experiences for their customers, ensuring that their website feels like a seamless extension of their brand.

Discover how your company can create personalised experiences for customers using leading tools like Hotjar, Optimizely, Crazy Egg, and StoreHero – all of which offer free trials or limited free versions. Without breaking the bank, you can make your website feel like a seamless extension of your brand with the valuable data insights provided by tools like Shopbox, ASK BOSCO, and Hotjar (even if they don’t have free versions).

Increasing ROI from SEO and PPC Efforts

Are you tired of investing in SEO and PPC campaigns and still not seeing the results you hoped for? It’s time to step up your game and start thinking about the entire journey. Don’t settle for limited measurement and poor onsite experience – invest in enhanced analytics and collaboration with AI technology.

While AI can certainly provide new ideas and improve your campaigns, it’s important not to rely on it entirely. Instead, let it help you break the reacquisition cycle by boosting engagement and increasing your chances of conversion.

By gaining a better understanding of our shoppers’ entire journey, you can use AI to your advantage and spend money on acquiring new customers instead of continuously investing in reacquiring the same ones.

Streamlining the shopper’s onsite experience

As much as online shopping has made life easier, there are times when you miss the personal touch of a real store. That one-on-one attention from store associates who know your needs and can recommend products tailored just for you is hard to replace.

But the rise of artificial intelligence brings new hope for those looking for personalisation in the online retail. With tools such as Shopbox, businesses now have the power to interpret vast amounts of data and uncover the nuances that make each shopper unique.

The age of digital shopping may have taken the world by storm, but now, it seems that it’s time for retailers to catch up with the times and revolutionise the shopping experience through AI.

Leverage the AI advantage

As the eCommerce landscape continues to evolve at an accelerated pace, adopting AI-driven tools and strategies is no longer optional but necessary for staying competitive.

Embracing advanced technologies can help businesses emulate the success of industry giants like Amazon, Netflix, and TikTok in delivering exceptional customer experiences.

So, why settle for outdated tools when AI has the power to revolutionise eCommerce marketing and unlock new opportunities for growth?

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Why AI is the future of digital marketing https://askbosco.io/blog/ai/why-ai-is-the-future-of-digital-marketing/ https://askbosco.io/blog/ai/why-ai-is-the-future-of-digital-marketing/#respond Tue, 20 Dec 2022 12:39:45 +0000 https://askbosco.bubblestaging.com/why-ai-is-the-future-of-digital-marketing/ Artificial intelligence (AI) is already beginning to revolutionise the way that businesses market their products and services, and its power […]

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Artificial intelligence (AI) is already beginning to revolutionise the way that businesses market their products and services, and its power in digital marketing shouldn’t be underestimated. In this article, we discuss how AI is transforming the future of digital marketing and how advertisers can take advantage.

Personalisation

One of the major advantages of artificial intelligence is its ability to highly personalise the customer experience. AI algorithms can analyse and learn from data on variations such as customer behaviour, preferences, and history to deliver highly targeted, personalised marketing messages and content.

Major steps have been brought forward by the Covid-19 pandemic as the world moved solely online as a result of international lockdowns. The need for a better, online customer experience skyrocketed and brands that previously didn’t have a digital-first approach scrambled to catch up. 58% of consumers expect more from services than they did pre-pandemic, the need for integrated, omnichannel CX with room for personalisation is key to digital transformation and higher conversion rates and loyalty.

Efficiency

AI can be instrumental in helping businesses save time and resources by automating certain marketing tasks. Businesses often fail to form meaningful, positive relationships with consumers when processes become tricky to navigate. For example, support tickets are passed from department to department without proper follow-up.

Messaging has become the go-to way to reach businesses and between 2019 and 2020, social messaging rose in popularity by 110%– that’s huge.

In AI terms, automated chatbots can handle customer inquiries and provide instant responses, freeing up human customer service representatives to handle more complex tasks.

Predictive analytics

AI can be used to predict future trends and customer behaviour, helping businesses make more informed marketing decisions. AI algorithms analyse and learn from data on past customer purchases, social demographics and search patterns to predict which products a customer is most likely to buy in the future, allowing businesses to tailor their marketing efforts accordingly.

Using AI and truly understanding your customer prevents a huge amount of wastage, particularly when it comes to marketing budgets. Research by Promixa has indicated that up to 60% of marketing budgets are wasted.

On the other hand, it can also open up a world of opportunity. The use of AI may enable you to spot new opportunities for your business and discover where your customers are. For example, you may be investing a huge amount of budget into Facebook but could be missing out on a large majority of your customers who are using TikTok and making purchases based on what they’ve seen on the platform.

Improved ad targeting

Online advertising can often be a gamble, with a vast number of marketing channels to choose from, you need to be in the right place at the right time.

AI can improve the targeting of online ads, ensuring that they are seen by the right audience. AI algorithms can analyse data on a user’s browsing history, demographics, and interests to deliver highly targeted ads that are more likely to be relevant and effective.

Knowing where you should be investing your budget can help with wastage, and in the current economic climate, this has become a priority for marketing leaders.

Cost savings

AI can help businesses save money by automating certain marketing tasks and improving the efficiency of their marketing efforts. By reducing the need for human effort, businesses can lower their costs and allocate their resources more effectively.

The use of AI in digital marketing is expected to continue growing in the coming years, as more businesses recognise the benefits it can provide. Whether it’s through personalisation, data-driven ad targeting or efficiency, AI has the potential to completely transform a business. Businesses can see reduced costs when it comes to advertising spend and increased revenue using AI to spot the gaps in their ad strategy.

BOSCO™ is an AI-powered digital marketing platform, designed for growth-driven marketers who want to spend more time optimising performance and less time reporting. If you’d like to save tonnes of reporting time, better predict how your ad spend will perform and have a clear view of your ad performance, book a 15-minute chat with one of the BOSCO™ team.

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