If anyone is selling you AI as magic then the trick is on you, according to Steve Krause Group, Vice President, Product Management, Oracle Marketing Cloud.
He was speaking to delegates at the Oracle customer experience and marketing conference in Las Vegas today about the company’s new AI initiatives, including chatbots.
- Take our Which-50 reader survey and go into the draw for a chance to win a pair of Sony H.ear Bluetooth headphones or 1 of 5 Google Daydream VR headsets
“Is this magic? What we are trying to do is make it practical. The chatbots platform is about enabling you to be there when it happens.”
He also described Oracle’s new AI Adaptive Offers (part of theAdaptive Intelligent Apps for CX suite). “These kinds of systems work today but how can we make them work better.”
As with chatbots he said there is a general rule worth remembering, “Bad data in bad results out, good data in, good results out.”
Oracle is bringing to power of its Data Cloud to allow brands to combine a huge third party data source with their own data to feed the machine. Oracle says its Data Cloud is the largest data marketplace in the world with a collection of more than 5 billion global consumer and business IDs and more than 7.5 trillion data points collected monthly.
The data which is available for brands to utilise typically is provided by company’s who’s business is selling data. This is different to other models such as that employed by rival Adobe, where customers pitch into a pool, Krause told Which-50.
“You can feed your recommendation system with the data you have plus and you can pull data from the Oracle Data Cloud and put more signal into the recommendation engine and make better recommendations. That’s a big difference and a big deal.”
“By applying advanced data science and machine learning to Oracle’s web-scale data and an organization’s own data, the new Adaptive Intelligent Apps for CX can have an unprecedented ability to react, learn and adapt in real time based on historical and dynamic customer data such as click-stream and social activity as well as inputs such as weather, lookalike audiences and Internet of Things (IoT) data. The new Adaptive intelligence Apps for CX helps deliver customized insights that improve with every customer interaction and include innovative apps designed for consumer and B2B professionals.”
Adaptive Intelligent Apps for CX deliver immediate impact by embedding within Oracle CX Cloud Suite applications to support customer experience workflows across commerce, marketing, sales and service.
Different professionals will benefit in different ways says Oracle, for instance;
- Commerce Professionals: New AI-powered capabilities help turn static journeys into smart ones by delivering targeted product and content that is most relevant to the shopper’s immediate context. Recommendations utilize account data, shopper third-party data and real-time inputs to optimize outcomes and create superior consumer experiences for both first time and known shoppers. This drives repeat visits, loyalty and ultimately revenue.
- Marketing Professionals: New AI-powered capabilities help enable smarter cross-channel experiences by delivering the most relevant, personalized content for each individual customer, at scale. By personalizing engagements in real time across all channels, the new AI capabilities help empower marketers to capture attention, drive engagement and improve conversion.
- Customer Service Professionals: New AI-powered capabilities help enable smarter and faster resolution of customer issues by providing the best information in the right channel at the right time. By delivering predictive product failure, predictive account health and predictive recommendation capabilities to customer service professionals, customers can receive connected service experiences that ultimately improve customer loyalty and advocacy.
- Sales Professionals: New AI-powered capabilities help enable smarter sales experiences by optimizing the selling process for sales teams and customers.For customers, the buying process is made more effortless and seamless as the right offer, optimized for the individual customer, is presented digitally or through a sales professional. Sales professionals can improve productivity by following guidance derived from opportunity analysis as well as using account engagement and next-best- action capabilities to accelerate and close more deals.
“Oracle is uniquely placed to deliver on the promise of artificial intelligence based enterprise applications and is delivering on the future of AI driven business applications today,” said Clive Swan, SVP Applications Development, Oracle Adaptive Intelligence.
“By combining first and third party data with advanced machine learning and the industry’s most comprehensive cloud applications suite, Oracle provides a complete package that helps eliminate the need for more integrations or other costly and time-consuming processes. This enables our customers to achieve immediate value and take a smarter approach to business transformation.”