It is getting more and more popular to apply artificial intelligence (AI) in various sectors of life: from medicine to etail/retail industries.
AI implementation helps to optimize processes, reduce costs and get the most out of your data. This is why many companies are now investing heavily in machine learning and data analytics. However, in most cases, the implementation of AI can cost the company a fortune. Plus it can take plenty of time to prepare and generate data for proper analysis.
Nexoya-founders, Marco and Manuel, believe that implementing marketing intelligence can be possible for small businesses and startups as well.
What are the current trends in AI marketing?
We had a chance to interview our Nexoya-founders. In this first interview Manuel and Marco are discussing current trends in AI marketing and the importance of implementing marketing intelligence into business processes. Moreover, they will explain why they decided to enter the market with the machine learning solution.
AI is a very broad term and refers to many different sub-categories and disciplines in AI.
How is AI implemented at Nexoya?
Marco: Artificial intelligence at Nexoya means making complex algorithms accessible to marketers. We bring the power of AI together with your data in an easy and accessible form. This way marketers can start benefiting from AI today.
Artificial intelligence is the general term for a lot of methods and technologies. At Nexoya, we mainly work in the field of machine learning, where we apply huge amounts of data to algorithms and models and make the results easily understandable and accessible to marketers.
AI models should be based on high-quality data; does Nexoya work with quality data?
Marco: Quality and precision are very important to us. We go through many steps in our data preparation before actually training our models. With that, we want to assure that you get the best and most accurate information in the right time, like a Swiss watch.
Manuel: This is one of the big differences we see between us and our competitors. We spend a lot of time in unsexy, mostly invisible and difficult parts of data aggregation and preparation. That allows you to get most of the value from AI without doing expensive and manual data preparation up front.
Where is the data that Nexoya uses coming from?
Manuel: We are processing data from all our partner companies, which are the providers that you as a customer selected to work with. We connect to the marketing tools you use everyday and normalise the data accordingly.
Why do marketers need to start using artificial intelligence in their daily business?
Marco: You need to keep yourself up to date and know what is happening out there. AI is a big change for lot of fields, especially for marketing. Therefore you should start looking into it now.
Manuel: There is a bright new future in front of us. Every marketeer can be part of it, which is super exciting. So why would anyone not want to join the AI phase?
Many industries are adopting artificial intelligence or machine learning at the moment. Why did you decide to enter marketing industry with an AI-based solution?
Manuel: Bringing data decisions to people is one of our main drivers. We found out that marketers do have a great need for machine-based assistance, because of the large amounts of data, but they did not have the technology available. Therefore, Nexoya provides easy-to-use solutions for those companies, that are not technically savvy, or companies that cannot afford to hire machine learning engineers or data scientists.
Marco: Because we saw that in the field of marketing there is a major need for making data more accessible, easier to consume, and better to analyse. We noticed so many people with this problem, and we knew that we could solve it with our technical expertise.
What are the difficulties that startups and smaller companies are facing when it comes to AI and marketing intelligence?
Marco: The problem is that the field of AI is very broad. The entry barrier is high when it comes to the time and money needed in order to implement AI smoothly today. You need qualified staff and a lot of computing power.
It is a little bit like building up a new field of expertise in your team. That is what makes it hard for small- and medium-sized companies. They need easy and simple solutions.
Manuel: Usually, data science and AI is not what you would want to deliver in the first place. That is not your core competence.
What AI related news/events/meetups do you participate in for keeping yourself updated in the AI topics?
Marco: We attend various marketing and AI events and meetups. For example there is a marketing meetup in Zurich that we participate in. There are also similar AI-related conferences such as the Open Data Science Conferences, the Swiss Conference on Data Science or the applied machine learning days in Lausanne. Also marketing-related events such as DMEXCO or the AI Marketing Conference in Zurich are important events .
How can you describe Nexoya briefly in few sentences?
Manuel: Our vision is to bring data-driven decisions to people, especially to small- and medium-sized companies, since they usually do not have the chance to leverage state-of-the-art technologies in decision-making. This is why our solution is intended to be as intuitive and simple as possible, yet delivering a maximum on insights and advice.
What is your advice to entrepreneurs who are entering AI marketing field?
Manuel: Get in touch with us. We are hiring!
Find out more about the future of marketing and benefits of AI implementation for a company in our next articles!