A current world market survey by analytics agency SAS and Coleman Park discovered that whereas 9% of organizations plan to spend money on generative AI by 2025, a staggering 90% of CMOs admit they don’t absolutely perceive the expertise or its potential affect on enterprise processes. This data hole highlights a big concern amid the continued AI hype.
Nonetheless, some firms are charting a special course with AI.
The Nature Conservancy, an environmental nonprofit, and SAS are demonstrating sensible, revenue-generating purposes of gen AI. These embody branding, lead scoring, and tailoring buyer journeys—methods highlighted throughout discussions at ADWEEK’s Brandweek occasion in Phoenix, Ariz.
“There’s a basic AI washing that’s taking place proper now,” stated Jennifer Chase, evp, chief advertising and marketing officer, SAS. “There’s a lot hype round it, and we owe it to our companies and, frankly, society to deepen our information round generative AI.”
The Nature Conservancy is seeking to scale its environmental efforts, eyeing bold targets like preserving land twice the scale of India and conserving 10% of the world’s oceans, and gen AI helps it get there, based on the group.
The expertise has helped the nonprofit optimize its advertising and marketing fundraising selections, reminiscent of which of its lapsed homeowners it ought to attain out to whereas crafting digestible messaging from scientific papers.
Although many environmental nonprofits face declining fundraising, the group is bucking the development with its new methods—rising its income by 8% yearly, based on its director, strategic analytics, John Blackwell. In distinction, friends within the sector have skilled an 8% drop in donations yr over yr.
“The organizations that had been much like us in fundraising about 5 years in the past, in lots of instances, we’re elevating about twice as a lot as they’re at present,” stated Blackwell.
The Nature Conservancy has additionally begun utilizing artificial knowledge to complement its restricted pool of high-dollar donors, permitting it to construct predictive fashions that establish potential main donors from smaller contributions.
“None of this really works until you’ve got a extremely robust knowledge basis,” Blackwell stated.
Extra correct buyer predictions
SAS, in the meantime, is pushing its AI boundaries, utilizing predictive modeling and gen AI to automate buyer journeys at scale, based on Chase. From lead scoring to creating next-best affords, AI has pushed SAS’s buyer engagement technique, serving to the agency keep a aggressive edge.
