Companies who follow ethical AI practices when developing their AI offerings may gain a competitive advantage from doing so.
According to Twilio’s State of Personalization Report, 89% of survey respondents believe that 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 figure out how to strike a balance between innovation, transparency, and ethics if they want to succeed in the AI landscape.
Another interesting finding of the report is that Gen Z prefers more personalization in their digital experiences, but also have higher expectations for authenticity, transparency, and engagement on their own terms. According to the report, 85% of companies plan to adjust their marketing strategies in order to meet their needs.
Additionally, 82% of business leaders now understand the importance of embedding 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 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,” said Robin Grochol, VP of product management at Twilio. “In our latest State of Personalization Report, we found the majority of business leaders are making the shift from reactive to predictive personalization to help them deliver on increasingly sophisticated and dynamic consumer demands.”
Other findings of the report include:
- 58% say AI chatbots will be the most impactful AI initiative in the next 5 years
- 74% agree AI will change marketing strategies
- 72% are using a customer data platform for personalization and 48% are using a data warehouse
- 59% of businesses expect their teams to use AI daily by 2025.
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