I lately returned from the IIEX convention in Austin – and, wow – what an excellent expertise for a couple of days.
Solely in Austin – and, sure, Austin may be bizarre. What I used to be completely shocked at was seeing a Tesla that was an Uber – however had NO driver in it. Yep. I didn’t trip in it, however, my precise Uber driver did level it out. It served as a pre-cursor that whether or not your snug with Synthetic Intelligence or not – you higher get used to it as a result of its coming!
There have been glorious displays by trade consultants all through the convention, and most did appear centered on the the expansion of synthetic intelligence and machine studying and particularly the way it will have an effect on our trade.
The most important takeaway for me: “What does this trade ‘appear to be’ in three years? And what are we doing at this time to ensure we forward of the curve three years from now?”
WIRe had an superior pleased hour to kick off the occasion and meet up with pals all through the trade. Conferences are actually nice locations for “serendipitous” conversations that simply don’t happen over Zoom. Head to head is absolutely “the place it’s at” to attach with folks.
Our pals at Hotspex sponsored an excellent barbecue the place I will need to have consumed extra purple meat in 3 days than I’ve in 3 months. Not solely that, however we went on a ship tour, which is a MUST DO when in Austin.
It was actually “thought upsetting” when trying on the industrial actual property panorama by way of buildings. Google has an enormous “tech middle” the place they constructed and occupy over 700,000 sq. ft on over 40 flooring. In honor of the “tech” panorama, one constructing seems to be like a “USB Drive” – and one other constructing known as the “jenga constructing” because it actually seems to be like a jenga tower with items jetting out (nonetheless amazed they might construct constructions like that).
Whereas I used to be prepared for two days full of nice content material – just some feedback on the boat tour actually resonated. Our host was talking out the trade and enterprise of “cleansing merchandise”- one thing I by no means actually had given a lot thought to. It was defined that cleansing merchandise are formulations of assorted chemical substances, which all of the suppliers have entry to.
There isn’t actually a secret or proprietary “recipe” per say. So, in that trade – absolutely the distinction maker – the whole lot from packaging to product provides to differentiation, is all based mostly in the marketplace analysis and market insights perform. And, completely pivotal within the success of an organization.
The IIEX classes had been completely glorious, with the “tremendous scorching” subject being synthetic intelligence (AI), and ChatGPT. I misplaced depend of what number of conversations there have been on it. One among my favourite displays was by trade veteran Lorin Drake of Publix Supermarkets. His presentation was wonderful – about how he requested ChatGPT to do a few of the issues we do on daily basis, survey/screener creation, evaluation and so forth. – and full of slides and examples. The decision? ChatGPT is getting higher on daily basis and is fairly rattling good. It saves you a ton of time, however, nonetheless wants a human to evaluate on the finish.
One slide had an excellent quote: “Your job can be misplaced by somebody who is aware of how one can use AI earlier than dropping it to AI.” Key studying: Implement AI now in each space of your corporation as shortly as potential.
AI nonetheless want human oversight, and the enterprise with be vastly totally different in three years, so the power to embrace AI now in our on a regular basis lives is important.
(Additionally, an excellent quote by somebody, and I overlook precisely the way it went, however in 2023, EVERYONE is a self-proclaimed AI professional! 🙂 Zappi had an excellent presentation and referred to the Google inside leaked memo about AI, simply searchable on the web. Extremely recommend you learn it to see what a chance this may be! In essence, Google executives admitted – we’ve got no moat – aka, there aren’t many boundaries to entry to make use of AI.
Probably the greatest cubicles was held by the crew at The Logit Group, Inc.. They made the present enjoyable by strolling the “Inexperienced carpet”- encouraging a strut on digicam. Hats off to the Logit Group for not solely having an excellent sales space however actually marrying with content material creation on the identical time with filmed interviews with trade leaders. Very environment friendly and nice ROI on their convention I’m certain.
One other nice session (and I will need to have seen 15-20 of them and so they had been implausible) was finished by Brian Peterson who talked about “Discovering your distinctive voice” about dominating digital advertising. He has a podcast referred to as “Intellicast” – which I’ve began listening to – and implausible thus far. In a “put up covid” world, nice to really feel like I’m eavesdropping on two guys “speaking within the workplace” in regards to the trade. At any charge, I used to be in a position to get a really particular query in- about how Return on Funding is measured- and he completely nailed it.
I requested in regards to the ROI of a podcast- and so they actually ship by way of their CRM and measure open charges. I don’t have a podcast (but)- however certain am impressed to start out one.
Additionally, the ultimate presentation I noticed was Pam Goldfarb Liss presentation on in regards to the variations in how Era Z thinks. She confirmed an excellent clip of how for older folks (did I actually say that?) who keep in mind a life the place there have been no “mobile” telephones, that “privateness” is a giant deal, proper? Nobody desires to be “tracked”.
Nevertheless, listening to a 21-year-old – who at all times grew up with a cellphone? It was loopy the distinction in views between generations, and individuals who “grew up” with a cell phone connected to their arms.
I keep in mind once I vowed that I’d by no means eliminate my blackberry. I’m all iPhone now. And sure, I did have a rotary dial cellphone in my life.
Again to the longer term, let’s speak about Gen Z and the way they take a look at issues. The 21-year-old respondent that Pam Goldfarb Liss had in her presentation was properly conscious that his “sensible” cellphone listened to him and liked that Amazon tracked all his procuring habits. Privateness wasn’t in any respect his concern; his true concern was “comfort”.
He liked retailers like Amazon. Why? They simplify his life. Amazon hits the nail on the top with really helpful purchases. Properly conscious of strategies for merchandise from looking historical past and “cookies”, he additionally downloads apps from rivals reminiscent of Goal and Walmart to have them “compete” in opposition to one another. Gen Z respondents are inclined to suppose the extra firms learn about their private and procuring habits, the higher. Privateness isn’t the essential factor. Comfort and anticipation of wants is. Invaluable perspective and nice job by Pam on that one!
High takeaways:
Austin was an outstanding location to host this occasion. On the chopping fringe of technical innovation as a metropolis and an excellent place for this convention to tug folks in from not solely West and East Coast however all around the world.
Synthetic Intelligence just isn’t your enemy, however, your ally in making your job simpler and driving down prices.
Gen Z depends on tech, and never opposed to privateness points, however, welcome “Large Brother” realizing extra about them. Comfort trumps privateness.
Insights from actual customers will at all times be key in shaping advertising of merchandise, whatever the progress of tech and tech platforms. The richness of actual actionable insights in your model will at all times be the standard of qualitative research and respondents.
AI is phenomenal for evaluation of huge information units, nevertheless on the finish of the day, nothing beats expertise within the trade as the important thing worth creator. Additionally, human insights are nonetheless at all times essential to “see the forest by way of the timber”.
Should you don’t make the most of AI every day, you’re setting your self up for failure.
Austin has one of the best barbecue on the planet AND an excellent “stay music” scene.