January 4, 2017
Tech Forecast: Social Artificial Intelligence Increases Entertainment Brands Profit Margins
Welcome to 2017!!! This year we will experience a lot of new things–and no, I am not talking about Donald Trump as president.
The possibilities on the horizon are:
- AÂ potential Snap Inc. initial public offering (IPO)
- Taraji P. Henson winning anÂ Oscar for Best Actress as Katherine G. Johnson–NASA Mathematician–in Hidden Figures
- Apple iPhone 7s and iPhone 7s Plus–well, we know that is coming
Yet, one of the things I forecast in 2017 is #techies having the ability to experience entertainment brands using predictive analysisÂ based on geolocation to enhance experiences that leverage artificial intelligence (AI) powered by social analytical data based on customerÂ interactions.
“With demographic shifts moving culture and ‘cool’ in different directions, Social AI allows for curated and personalized experiences using historical and real-time data. This yields better experiences for customers, which leads to greater brand loyalty, customer retention, and willingness to pay a premium for this type of individualized experience.”
Recently, I met with the new Head of Business Operations, North America at StubHub– BÃ¤rÃ A. Williams, Esq.– and we discussed in depth how predictiveÂ analysis will play a major role in how a new level of intelligent and enriched customer experience will allow for a high engagement of return on investment (ROI) for the amount of time and manpower it takes to develop these experiences.
Check out my one-on-one conversation below with Williams and stay tuned for all the exciting #techie marvels of 2017.
Nathaniel J. – Artificial Intelligence. It’s no longer just a “buzz word” in Silicon Valley, now it is a word you hear being used by traditional and startup organizations. Does this new predictive analysis for the entertainment industry fall within the “umbrella” of AI?
BÃ¤rÃ – No, this does not fall under the “umbrella” of Ai. Â The term I have developed with my team at StubHub is Social Ai.
Nathaniel J. – What is Social AI?
BÃ¤rÃ – Social AI isÂ the ability to harness and use customer data and artificial intelligence (via social media integration and purchase history) to cultivate and offer better social experiences for an individual.
Nathaniel J. – But isn’t this similar to when I receive an offer in an email, text message, or notification via my mobile device? What is the significant difference in Social AI?
BÃ¤rÃ – Great question! Social AIÂ uses customer/user generated content and data via social media site integration (what do you like on Twitter, IG, and Facebook), customer history (what have you paid for before), sifts through all of that information, and will introduce you to experiences, events, and associated interests to broaden horizons and create more meaningful experiences.
Nathaniel J. – What are the possibilities of what Social AI can yield?
BÃ¤rÃ – The goal for Social AI is toÂ yield a better experienceÂ for customers by exposing them to new bands, events, and encounters they wouldn’t have known about. This also makes a consumer’s desired experience easier to achieve, through ticketing, travel, and transportation, if necessary.