This report collects various AI-powered technology platforms for marketing and eCommerce agencies as well as insights into the most popular services provided by these platforms by major online firms or businesses. The platforms profiled are Cortex Fabric, Crayon AI, Drift, Hubspot AI, Google Cloud AI, People.ai, Wordsmith, and Acquisio Turing, each of which takes a unique approach to improving marketing capabilities of agencies and marketing teams. Amongst the most popular services provided by predictive AI for major firms are chatbots and AI assistants, recommendation engines, and price optimization using machine learning.
1. Cortex Fabric
- Name and description: Cortex Fabric is an AI designed for social media marketing in particular. It was developed by CognitiveScale, an AI-centric company.
- Services: Cortex Fabric is a predictive AI that takes any kind of structured or unstructured data or any kind of machine learning or non-machine learning model and generates content that maximizes customer engagement (through Engage AI), amplifies employee productivity (through Amplify AI), or provides AI risk management (through Protect AI). Below is a photo of examples of Amplify AI’s accelerators:
- Services: Using Cortex Fabric, marketers can automatically generate custom content calendars and content briefs that build toward particular goals for specific brands.
- Services: An interesting secondary service from CognitiveScale is Cortex Certifai. This solution provides a unique, first-of-its kind composite trust score for black-box models: the AI Trust Index. Cortex Certifai integrates “trusted AI systems” to detect and measure effectiveness, bias and fairness, explainability, and several other factors to provide a score on how reliable the data shown in a model is.
- Development: CognitiveScale has its own, in-house technology team that developed both Cortex Fabric and Cortex Certifai.
- CTO: Matt Sanchez is founder and CTO of CognitiveScale.
- Clients and partners: Anthem, Dell, Microsoft, and NBC Universal are utilizing CognitiveScale’s technologies in their AI incorporation efforts.
2. Crayon AI
- Name and description: Crayon is an AI that provides “actionable competitive intelligence” at scale to marketers and eCommerce firms. Its focus is monitoring “a competitor’s complete digital footprint.”
- Services: Crayon provides an in-depth, dynamic assessment of over 100 data types “across hundreds of millions of sources” to keep companies apprised of what marketing actions competitors are taking.
- Services: Crayon offers actionable insights to marketing, sales, and product teams to take informed steps and create the most effective campaigns or products.
- Services: Among the competitor data points Crayon tracks are product reviews, personnel changes, media coverage, and more.
- Development: Crayon was developed in-house by a team of AI scientists and data experts.
- CTO: Crayon’s CTO and founder is Josh Osborne.
- Clients and partners: Microsoft, one of Crayon’s leading partners, named it the global partner of the year for AI and machine learning. Clients include Monster, Genesys, Monster, and Kronos.
- Recent award: The Forrester New Wave: Market and Competitive Intelligence Platforms, Q4 2019 reported named Crayon a Leader.
- Name and description: Drift is the world’s first “conversational marketing” platform that uses AI to generate conversation using predictive behavioral analysis.
- Services: Drift provides marketers and eCommerce firms with chatbots that are capable of guiding a customer through a sale using dynamic, personalized responses that ultimately strengthen brands.
- Services: Drift enables companies to provide round-the-clock instantaneous responses to customers and answer questions about products. Below is an example of its chatbot in action:
- Services: Drift improves its chatting performance over time as it learns from the marketing team itself. It can learn the quality of a lead and maximize its potential (through Qualification Bot). Its predictive responses aim to achieve specified goals (such as selling products, setting up meetings, or generating leads).
- Development: Drift was developed in-house by their own technology team.
- CTO: Elias Torres is the cofounder and CTO of Drift.
- Clients and partners: Drift is used by 50,000 businesses in the B2B sector in their online sales efforts.
- Recent award: Drift was named a “Cool Vendor” by Gartner’s Cool Vendors in Conversational Marketing report.
4. Hubspot AI
- Name and description: HubSpot AI is a predictive intelligence AI that emphasizes database consolidation and efficiency techniques for marketing, sales, and service teams as well as website optimization recommendations.
- Services: HubSpot consolidates databases with millions of records. Along with consolidating them, it removes duplicate records, fixes typos, and deduces nicknames and abbreviations.
- Services: Hubspot enables the use of AI-powered mapping to import contacts smartly and match up spreadsheet columns and databases flawlessly.
- Services: For improving SEO strategies, HubSpot offers HubSpot SEO, a tool capable of scanning websites and making content recommendations to improve overall visibility. Below is a picture from this feature:
- Development: HubSpot was developed in-house with its founders playing a major role in its development.
- CTO: HubSpot’s CTO and Founder is Dharmesh Shah.
- Clients and partners: DoorDash, USA.gov, and Rock and Roll Hall of Fame are all clients of HubSpot.
- Recent awards: Three of HubSpot’s products were recognized by the TrustRadius community as Top Rated products in 2020.
5. Google Cloud AI
- Google offers Google Cloud’s predictive AI technology to marketers and business analysts to provide a variety of solutions across the stages of development and marketing.
- Services: Contact Center AI provides round-the-clock instantaneous responses to customers to convert contacts into sales and resolve complex issues using conversational AI.
- Services: Build and Use AI implements machine learning to provide insights and recommendations on improving time to market and for developing and launching models at scale.
- Services: Document AI harnesses unstructured data into usable marketing strategies that simultaneously improve sales and customer experience.
- Development: Google AI was developed in-house by the Google technology team.
- CTO: In 2016, Google Cloud formed an Office of the CTO and filled it with Google’s technology experts and former CTOs from other firms.
- Clients and partners: Google Cloud AI’s partners include Intel, Cisco, nVidia, and Atos.
- Name and description: People.ai utilizes its innovative Revenue Intelligence System to automate the capture of any and all contact points from potential leads and existing customer activity and provide recommendations thereafter.
- Services: People.ai provides personalized actionable insights to marketers with the intention of building pipeline and closing deals. It does so by assessing and managing data across every potential data channel.
- Services: People.ai offers the ability to assess and predict risk and provides recommendations to offset potential losses and ensure reliable growth wherever possible.
- Development: People.ai was developed in-house by its technology team.
- CTO: Andrey Akselrod is People.ai’s CTO.
- Clients and Partners: Among People.ai’s clients are Lyft, Zoom, Zendesk, Splunk, Clearbit, and several others.
- Recent award: People.ai was named a Hot Vendor per Aragon Research in 2019.
- Name and description: Wordsmith assesses repositories of data and generates insight-based narrative to enable marketing teams to best recognize and act upon available opportunities, along with generating content for customer-facing platforms. It was developed by Automated Insights.
- Services: Wordsmith is capable of generating popular culture blog or article posts such as fantasy football recaps after being provided with relevant data through its natural language-generating AI.
- Services: Wordsmith provides visualizations and cohesive narratives of a business’s data in real-time, enabling an immediate understanding of real and potential market shifts.
- Services: Automated Insights offers Business Intelligence to data analysts and business leaders. It provides written analytics tailored to individual customers and can provide business-wide overviews of data to executives using its natural language generator-based AI platform.
- Development: Automated Insights developed Wordsmith in-house.
- CTO: Robbie Allen is Automated Insight’s founder and Executive Chairman; he continues to serve as the company’s primary technology visionary.
- Clients and Partners: The Associated Press is one of Wordsmith’s clients.
- Recent award: Automated Insights was named a market leader in natural language generation for analytics by Forrester for its work on Wordsmith.
8. Acquisio Turing
- Name and description: Acquisio offers Turing, a predictive AI platform that enable marketers to “supercharge and simplify” their campaign management.
- Services: Acquisio Search & Social provides sales tools to predict PPC campaigns, automation tools for account and campaign creation, cross-channel ad management tools, and machine learning optimization tools.
- Services: Acquisio Automotive provides AI-powered digital marketing solutions to automotive agencies. It is capable of enhancing SEO for advertising campaigns, maximizing visibility on social media, and providing data insights.
- Development: Acquisio developed Turing in-house.
- CTO: Richard Couture is Acquisio’s CTO and Co-Founder.
- Clients and Partners: Acquisio’s clients include Vector Media Group, Hanapin Marketing, Mittcom, Envoke, and YP.
MOST POPULAR SERVICES PROVIDED BY THESE PLATFORMS
Chatbots and AI Assistants are Key Services
- Major eCommerce engines Alibaba and eBay have both turned to chatbots and AI assistants to provide a wide range of customer support services.
- At Alibaba, it developed Ali Assistant, a chatbot that now handles 95 percent of its incoming customer inquiries.
- In October 2016, eBay launched Shopbot. This chatbot uses AI to act as an assistant and make personalized recommendations to customers. Shopbot can receive text, voice, or picture-enhanced commands. Quantitative indicators of its success are lacking at this time.
- Facebook is investing in M, it’s AI-powered assistant that enables users to perform personal tasks easier.
- 130,000 developers have registered with Microsoft’s Bot Framework (launched in 2016) to build their own chatbots.
- 80 percent of businesses have plans to deploy chatbots, according to a 2018 survey.
- Based on the usage of chatbots by major e-Commerce firms and a multitude of developers, these services are particularly popular and believed to be effective in generating sales.
Recommendation Engines and Personalized Interactions are Driving Sales
- Amazon, the largest online retailer in the world, is focusing on targeted marketing strategies such as recommendation engines to drive sales.
- Recommendations are made to customers on Amazon based on machine learning algorithms. Estimates provide that Amazon’s recommendation engine accounts for 35 percent of its overall sales.
- Netflix relies on recommendation engines to keep its customers coming back (as it knows what they want to watch).
- YouTube’s recommendation engine is designed to attract customers to watch multiple videos so they will see multiple ads.
- With major platforms utilizing predictive intelligence recommendation engines to fuel their continued growth, this service is a component of AI technology that is in high demand.
Pricing Optimization Based on Machine Learning Gives a Competitive Edge
- Pricing optimization is fundamentally necessary for remaining competitive on the online field due to the rapidity of price changes across a wide spectrum of competitors.
- eBay has indicated that pricing optimization using machine learning is a key part of its strategy since 2016.
- Machine learning enables firms to adjust prices using a much larger number of factors than are traditionally present, as the following graphic indicates:
- 73 percent of retailers are planning to implement machine learning for pricing optimization by 2021, according to an IBM study.
- Dynamic price adjustment through machine learning prevents businesses or eCommerce firms from offering comparable products at too low a price. As such, it is an important and popular service.