Businesses should consider the ethical implications of AI tools in order to stand out from their competitors, says a new Twilio report.
Report from directors of large companies (with more than 500 employees) in 12 countries, including the UK and US, explored customer expectations around technology and sees a shift towards delivering predictive customer experiences , emotionally intelligent and highly personalized so that businesses can truly benefit from their AI deployments.
Nine in 10 business leaders (89%) believe ethical use of AI will provide a competitive advantage, and more than half (54%) proactively address consumer concerns about data privacy and ethical AI by implementing more robust controls and metrics.
How to stand out when everyone is using AI
The report adds that half (49%) of respondents said they would trust brands more if they openly disclosed their use of customer data and AI-based interactions, demonstrating the essential nature of transparency.
Twilio also highlighted the influential nature of Gen Z (18-27 year old) customers, stating that 85% of businesses plan to adjust or optimize their marketing strategy to meet the “unique needs” of Gen Z customers. , who hold “massive intimidation power” in the market.
Robin Grochol, VP of Product Management at Twilio, commented: “Personalization is table stakes in the world of marketing. Today’s consumer not only expects brands to understand them, but they also want them to anticipate their needs and AI is making this a reality.
In the future, three in five companies (59%) expect their teams to use artificial intelligence on a daily basis, with many highlighting its power to influence marketing strategies. AI chatbots have emerged as the most effective AI-based personalization technology, but without the right balance of personalization, transparency, and privacy, businesses’ efforts could be in vain.
