CHICAGO, June 10, 2024 /PRNewswire/ — How do you use artificial intelligence (AI) in your daily life? Do you use it in your personal or professional life? From personalized recommendations to automated customer service, generative AI is not just a futuristic concept but a current reality that is transforming businesses and the way we interact with them.
Lu Cotterill, Kellanova Sr. Director, Insight & Intelligence
Google predicts that by 2030, 80% of marketing will rely on AI*. This transformation is not only on the horizon; it’s here. Businesses adopting AI today are setting the stage to outperform their competitors. Surprisingly, less than 35% of companies are currently using AI, and 80% of AI projects fail*. So why, when AI holds so much promise, are so many companies failing to seize this opportunity?
Throughout our journey at Kellanova, and previously at Kellogg Company, we have incorporated some essential principles that have allowed our AI initiatives to begin to have a real impact on the business. It’s not AI we’re competing with; it’s other marketers using AI. Some AI marketing tools are game-changers, but our advantage lies in how we use these tools to differentiate and stand out.
How we differentiate ourselves in our AI marketing strategy:
- Put people first in our AI journey. Consider how AI will reshape the experiences and expectations of our consumers and buyers.
- AI is a tool, not a magic solution. Start with a clear problem and specific business goals.
- Invest in capabilities as much as technology. Develop the skills within your team to leverage AI effectively.
We see results and continue to test and learn to drive real business value:
- Growth forecasting and scenario simulation: We started small with a simulation dashboard, allowing our teams to experiment before moving on to more sophisticated predictive tools.
- Media Optimization: Campaign data analysis uncovered insights that traditional methods could not provide, leading to greater return on investment (ROI) and tangible business value.
- Building addressable audiences: Merging data sets and using advanced techniques identified receptive audiences and resulted in personalized, impactful messages.
In today’s rapidly evolving digital landscape, Kellanova experiments and builds on this spirit as we learn, mature and integrate capabilities. We are committed to being a data-driven organization using advanced analytics to transform how we understand consumers and buyers. A few years ago, we saw the potential of AI to revolutionize our marketing aimed at connecting with consumers.
Today, we are at the dawn of a new era, in which AI is not just a tool but a strategic enabler in our quest to become the world’s best snacking company. With AI, we are reinventing how we engage our consumers by delivering personalized experiences at scale and delighting them at the pace of their desire.
AI will continue to reshape marketing. By adopting these principles and considering AI as a strategic tool, we can continue to advance towards our vision of being the world’s best snack-led power.
AI has many benefits in marketing, but it also exists across the business. Recently, our Chief Technology Officer, Ramesh Kollepara, shared how we are moving into the future with AI, as we continue to reinvent the way we do every aspect of our business. To learn more about our work in AI at Kellanova, read his message here.
SOURCE Kellanova
