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At e4m TechManch 2023, AI and metaverse experts discussed the dos and don'ts marketers should keep in mind while creating a digital marketing strategy for tech platforms

by exchange4media Staff Published - Aug 11, 2023 12:13 PM | 5 min read

Karthi Kumar Marshan, Advisor, Kotak had an insightful discussion at the e4m TechManch 2023 with Catherine D. Henry, SVP Web3 and Metaverse strategy, Media Monks and Daniel Hulme, CEO Satalia and Chief AI Officer, WPP on How to future-proof your digital marketing strategy.

Marshan opened the session by asking Henry about the future of marketing and what can be said about it. Henry highlighted that AI and Metaverse were two different perspectives that are nevertheless very complementary in terms of looking at the future. She said, AI is the powerhouse that's going to drive many metaverse and web-3 platforms, We are looking at the discipline from two different perspectives. It is what I call top-down and bottom-up.

It describes the analytical and data-driven framework that drives so much of Daniel's work in addition to the sort of bottom-up cultural behavioral patterns that we are observing empirically in the work that I do in the metaverse and web-3 spaces. So it's super exciting to have this combination and really see how all of these things are coming together so that we have a better understanding of what we can expect in the future.

Agreeing with Henry, Hulme mentioned, It is very difficult to see what the future looks like, which is why it is very important that we build adaptive organizations. The more adaptive we are, the more resilient we are, because the world is going to change rapidly over the next decade, and those that survive are going to have to adapt to that ever-changing world. And to be able to adapt, we need to innovate, and to innovate, we need to unlock the creative capacity of our workforce.

Marketers don't want to be making the mistakes where they end up throwing money at the shiny object in the room and get caught on the wrong side.

Marshan shared, We don't want our boardrooms to be yelling at us, saying you threw money away at something that just doesn't work or didn't work. We've seen numerous examples of those kinds. Even in my limited space of banking, I know people have tried to do mobile banking apps on BlackBerry and on wearables, and we've fallen flat on our face.

He asked the speakers to share their insights on how marketers sift through what to say yes to and what to say no to, in terms of spending money behind new technologies in the context of the metaverse, AI, et cetera.

Henry answered, If we are thinking about being at the frontier of these spaces, it really requires a couple of things. First is we need to make sure that we delight and engage our audiences. We need to make sure that we are tapping into things that are interesting and relevant to them. We need to add value to these experiences in ways that they recognize.

So, your job is identifying the community, what they want, what drives them, and give it to them. But that requires iteration over time. Right now there is no one solution. Those kinds of cookie cutter solutions are gone. They have been gone for about a decade at least. But especially in emerging platforms, whether it is gaming or metaverse spaces.

Hulme discussed some pointers about what filters marketers should keep in their head when they attempt to use AI in the context of a marketing problem.

I used a prioritization framework to make sure that when we are solving these frictions they are really driving value. One of those criteria is data. Is the data available to help us answer the question? Sometimes it's not, but sometimes solving the problem is so valuable that you have to go and get the data. So there's a whole set of criteria there, he shared. Is the data available? What's the return on investment? Are all of the stakeholders across your business bought into the solution? Is it going to be maintainable? And also one critical criteria is reusability. So we build these expensive, smart module solutions, and actually you can reuse the underlying assets to solve other parts of the business.

Adding to Hulmes insights, Henry said, As marketers, we are going to have greater insight, especially in the younger generations because they will have invested so much of their own capital in both building, trading, and selling their objects in these 3D worlds. That will give us greater insights as to what they want and how to reward them and how to incentivize them. There are rich analytics to be had not just from AI and external CRM systems but certainly within metaverse and gaming platforms.

Talking about the future of AI and super intelligence, Hulme shared, We will see in the next few years, these large language models moving from being like an intoxicated graduate in your pocket to like a master's level. They'll be able to reason. And then in a few more years, we'll be able to give it a complex objective function like a PhD. And it'll be able to go and try and address that and determine whether that hypothesis is true. And then a few years later, we'll probably have a professor in our pocket that's as smart as all of us, which is AGI (Artificial General Intelligence).

Then if you give it the task of building a smarter AI, we could very quickly see a fast takeoff, where we see this intelligence going from as smart as all of us to a million times smarter than all of us, which is super intelligence. We could take a long time or it could take years. But my community thinks that we'll achieve AGI by the end of this decade, and that means that we could see super intelligence in the next 20 years.

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'AI is the powerhouse that's going to drive metaverse & web-3 platforms' - Exchange4Media