Resource Person:Mr. Vishal Wadajkar Assistant Professor Dr. D.Y. Patil B-School, Pune, India.
Duration:10:00 am – 5:00 pm
No. of participants: 10
Date: 10 th June, 2017
Objectives:
- To enable faculty to know Artificial Intellingence in Marketing, its benefits and challenges
Description:
Mr. Vishal Wadajkar started the session by explaining that in order to realize AI’s
giant potential, a manager needs to have a good grasp of the various kinds of
applications available and how they may evolve. The session guided marketing
executives through the current state of AI and present a framework that will help them
classify their existing projects and plan the effective rollout of future ones. The AI was
categorized AI along two dimensions: intelligence level and whether it stands alone or
is part of a broader platform. Simple stand-alone task-automation apps are a good
place to start. But advanced, integrated apps that incorporate machine learning have
the greatest potential to create value, so as firms build their capabilities, they should
move toward those technologies..
He then explained that of all a company’s functions, marketing has perhaps the most to
gain from artificial intelligence. Marketing’s core activities are understanding
customer needs, matching them to products and services, and persuading people to
buy—capabilities that AI can dramatically enhance.
He said that Marketing AI is majorly categorized into 4 parts on 2*2 matrix of more
advanced/less advanced & isolated or integrated into other platforms and cited many
example for the same. On closing note, he also talked about challenges and risks og
marketing AI.
The session was very insightful for the participants, and the information shared would
be helpful for them while delivering lectures on the AI marketing components and
another related area.
Ms. Sheetal Darekar, Assistant Professor, thanked the resource person and all the
participants present.