A new report from Twilio says businesses need to consider the ethical implications of AI tools to stand out from the competition.
The report, written by directors of large companies (over 500 employees) across 12 countries, including the UK and US, explored customer expectations around the technology and found that for businesses to truly benefit from adopting AI, there is a shift towards delivering highly personalised customer experiences that are predictive and emotionally intelligent.
Nine in ten business leaders (89%) believe that ethical use of AI will provide a competitive advantage for their business, and more than half (54%) are proactively addressing consumer concerns around data privacy and ethical AI by implementing more robust controls and measures.
Everyone is using AI, so how do you stand out?
The report highlighted the importance of transparency, with half (49%) of respondents saying they would trust brands more if they were open about how they use customer data and AI-powered interactions.
Twilio also highlighted the influence of Gen Z customers (ages 18-27), stating that 85% of companies plan to adjust or optimize their marketing strategies to address the “unique needs” of Gen Z customers, who have “high influence” in the market.
Robin Grokol, vice president of product management at Twilio, commented: “Personalization is a necessity in the marketing world. Today's consumers expect brands to not only understand them, but anticipate their needs, and AI makes that possible.”
Going forward, three in five (59%) businesses expect to use artificial intelligence on a daily basis among their teams, with many seeing its power to impact their marketing strategies. AI chatbots have emerged as the most impactful AI-driven personalization technology, but without the right balance of personalization, transparency, and privacy, businesses' efforts could be in vain.
