Companies should consider the ethical implications of AI tools in order to stand out from their competitors, a new Twilio report has claimed.
The report of directors from large companies (with more than 500 employees) across 12 countries, including the UK and the US, explored customer expectations surrounding the technology, findings a shift towards delivering predictive, emotionally intelligent and highly personalized customer experiences in order for companies to truly benefit from their AI deployments.
Nine in 10 (89%) business leaders believe that the ethical use of AI will provide a competitive business advantage, with more than half (54%) proactively addressing consumer concerns regarding data privacy and ethical AI by implementing more robust controls and measures.
How to stand out when everyone’s using AI
The report added half (49%) of the respondents said they would trust brands more if they openly disclosed their use of customer data and AI-powered interactions, demonstrating the critical nature of transparency.
Twilio also highlighted the influential nature of Gen Z (18-27-year-old) customers, stating that 85% of companies are planning to adjust or optimize their marketing strategy to accommodate the “unique needs” of Gen Z customers, who hold “massive bullying power” in the market.
Robin Grochol, VP Product Management at Twilio, commented: “Personalization is table stakes in the world of marketing. Today's consumer not only expects brands to understand them, but they want brands to anticipate their needs and AI is making that a reality.”
Looking ahead, three in five (59%) businesses expect their teams to be using artificial intelligence daily, with many noting its power to influence marketing strategies. AI chatbots emerged as the most impactful AI-driven personalization technology, but without the right balance of personalization, transparency and privacy, businesses’ efforts could be wasted.
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