While generative tools are having their moment in the sun, in what other ways can your agency harness AI?
There are two main ways of using machine learning:
- To predict the future. “Machine learning uses past data to predict and model the future. Agencies can use it for their operations, and also their clients. It can predict future behaviours – what are people going to click? What are they going to buy? Are they going to churn? How much money will this generate?”
- To cluster and analyse. “Machine learning can also be used to analyse audiences and find patterns in data. Based on these patterns, it can reveal different segments and cohorts and how they differ based, for example, on social demographics or behavioural attitude.”
By using machine learning in this way, it can only improve the way you use generative AI tools like ChatGPT and MidJourney.
“With this information, you can then leverage it to create the right content, for the right audience, at the right time. When you start to add ChatGPT and other generative tools into the mix, from there you can be sure what you create will resonate with your audience,” explains Vincent.
“You can’t do this based on your intuition; you can do this because you’ve done a data-driven exercise. You can’t fully exploit generative AI if you don’t grasp machine learning.”
Machine learning is nothing new. In the past, to use this kind of information and technology you’d most likely need a team of data scientists and engineers, the kinds of things only really available to big corporates and Fortune 500 companies.
But as the race to democratise AI continues, Vincent argues that agencies should already be clued up on machine learning – and even more importantly, should look to build their own AI infrastructures.
“When we use tools like ChatGPT, we share data. Our clients don’t want us sharing this data, so this opens the door to the next step, which is: how can I set up my own infrastructure and keep private data just that?”
“Agencies should want and need to build their own AI infrastructure and applications to compete, and to do better than what they’re doing right now. Building tools that are custom-made, based on your data and systems and workflows, is really going to move the needle.”
We’ll be discussing all of this with Vincent in this month’s AI mastermind – and he’ll also be showing us how machine learning works in action.
Join us as we explore a different side of the AI boom, and how it could benefit you.