Q+A: The AI tools businesses are actually using
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What is the main topic discussed in this episode?
Welcome to Fear and Greed Q&A, where we ask and answer questions about business, investing, economics, politics, and more. I'm Sean Aylmer.
How is artificial intelligence changing business operations?
Artificial intelligence is changing the way businesses operate. We know that already. But beyond the headlines and hype, many organizations are still trying to work out exactly how AI can help them. be more productive, create better content, market more effectively, and ultimately grow faster. Adobe sits at the intersection of creativity, marketing, and productivity, three areas being reshaped by AI. Ben Goodman is president of Asia Pacific at Adobe, which is a great supporter of Fear and Greed. He joins me in the studio. Ben, welcome to Fear and Greed Q&A. Thank you very much. Great to meet you, Sean. So let's start with the big picture. We move beyond asking whether AI matters. We know that. The question now is how businesses use it.
What are you seeing?
So we're now through this period of AI experimentation.
What are the real-world applications of AI for businesses?
I think businesses have now spent a lot of time, money, focus and teams really trying to understand what's possible. And now getting to the point of what makes sense for us to do. How does AI help us elevate our customer experience? How does it help us better understand our customers? How does it help us drive productivity? We're seeing a lot of businesses now step back and go, right, for their experimentation that we've done, which ones actually had an impact? And that is probably the crux of the business conversations. Like any investment, when you go through the first hype cycles, people just throw time and resource at it to see what's possible. Now we're getting to that period of, right, what is probable?
What is impactful? What scales? And how do I have to think about my organization, my customers differently as I start to bring it in as a mainstay of my organization that's really turning up in lots of different places?
So is that why you theme together the ideas of creativity, marketing, productivity? Is that why they're all kind of linked?
Absolutely. So if you think the transformation today is how do I get closer to my customer? If you think about Australia, 26, 27 million people, it's not a large population. And so brands really need to stand out, whether you're a bank or whether you're an insurance company or a retailer. You have to make sure your brand stands out, and that involves intimacy, understanding your customer. Number two is respect for your customer. Privacy, consent, all those things become critical. Number three is making sure the content is suited to them. Are you engaging them in the way they want to be engaged? Is it email? Is it TikTok? Is it advertising? Whatever the method is. And finally, are you doing it at the pace that the market is evolving?
Are you reacting and responding in real time to the things happening globally and locally? When you bring all those together, that is the definition of business today in terms of engaging your customer. And so AI, the productivity element, is how do I activate my teams to really do their best work at the pace the market is adapting? We start to think about the creativity elements. How do I create content That really engages people and helps people to really think that something was personalized for them in a way that emotes and drives action. And then from a digital marketing perspective, it's around the spectrum of how organizations can engage. We don't have tens of channels. We have thousands of channels evolving and choosing what to do where is really a critical decision for brands.
And it's not simple. You have to look at data, you have to look at insight, and so AI is really bringing the ability for organisations to think more deeply about their customer engagement.
Okay, let's talk about that. So my parents' generation, it was the radio. My generation, it was the television. The thing about my kids' generation is the incredible range of options, and not even my kids' generation, like today, the incredible... So if I'm marketing, if I'm creating content, how do I know...
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:06–0:13
2
How is artificial intelligence changing business operations?
0:13–1:02
3
What are the real-world applications of AI for businesses?
1:02–4:43
4
How can AI enhance customer experience and productivity?
4:43–7:52
5
What is the relationship between creativity, marketing, and productivity in AI?
7:52–13:39