Companies that follow ethical AI practices when developing their AI offerings can gain a competitive advantage.
According to Twilio Personalization Status Report, 89% of respondents believe that the ethical use of AI is a potential business advantage. Another recent Twilio survey found that 49% said they were more likely to trust brands that are open about how they use customer data in their AI offerings.
These findings indicate that companies will need to balance innovation, transparency, and ethics if they want to succeed in the AI landscape.
Another interesting finding from the report is that Gen Z prefers more personalization in their digital experiences, but also has higher expectations for authenticity, transparency and engagement on their own terms. According to the report, 85% of businesses plan to adjust their marketing strategies to meet their needs.
Additionally, 82% of business leaders now understand the importance of integrating emotional intelligence into AI systems and 80% of marketers will measure new metrics that measure the effectiveness of personalization, such as customer lifetime value, emotional engagement and brand affinity.
“Personalization is a major issue 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 that a reality,” said Robin Grochol, vice president of product management at Twilio. “In our latest State of Personalization report, we found that the majority of business leaders are moving from reactive to predictive personalization to help them meet increasingly sophisticated and dynamic consumer demands .
Other findings from the report include:
- 58% say AI chatbots will be the most impactful AI initiative in the next 5 years
- 74% agree that AI will change marketing strategies
- 72% use a customer data platform for personalization and 48% use a data warehouse
- 59% of companies expect their teams to use AI daily by 2025.
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