Tata Capital to soon use AI in running marketing campaigns
Experiments are over in the areas of intelligent search, smart ads, sharper content delivery and seamless learning
The endeavour of Tata Capital is to democratise data in such a way that all functions can take decisions based on data. This will help in making decisions far sharper, will increase efficiency, productivity and effectiveness across the organisation. AI is leveraged throughout the customer journey: from the on-boarding stage and right through the exit stage.
“We use machine learning for scorecards, underwriting thus enabling faster and seamless loan disbursal decisions,” says Abonty Banerjee, Chief Marketing and Digital Officer, Tata Capital.
Recently, the company launched the VoiceBot ‘TIA’ within the Tata Capital mobile app for personal loans. Powered by artificial intelligence, TIA is designed to voice-assist the personal loan customer journey, check loan eligibility and aid the customer through the loan approval process in minutes. TIA aims to create a whole new conversational experience for customers using speech recognition technology, natural language understanding and text-to-speech technology. TIA has the ability to answer customer queries, assist in simplifying the loan process, help customers choose the right offering and help the customer avail a loan sanction within the Tata Capital app.
Following are some experiments done with AI in marketing campaigns and some of them will be implemented soon. AI influencing marketing outcomes is possible in the following areas:
- Intelligent search: As advanced technology solutions grow smarter, it’s important to remember that audiences are becoming smarter as well. Thanks to social media and rapid-fire search engines (like Google!), people find what they are looking for faster than ever before. AI and big data solutions can actually analyse these search patterns and help marketers identify key areas where they should focus their efforts.
- Smart ads: Marketers like Tata Capital are already experimenting with smarter ads, with account-based marketing solutions, but AI helps teams take this a layer further for truly insightful analysis. AI solutions are dig deep into keyword searches, social profiles, and other online data for human-level outcomes.
- Sharper content delivery: Audience analytics can go past the typical demographics level, to understand people on an individual basis. Now, marketers can use AI to both identify potential clients or buyers, and deliver the ideal content that’s most relevant to them. With big data, machine learning, and AI combined, a marketer can do all of that
- Seamless learning: Past learnings can be implemented seamlessly in current and future campaigns. Over time, these AI solutions will become even more intelligent, effectively eliminating waste, greatly increasing conversions, and promoting real-time decision-making.
