Build products incorporated with AI to address consumer issues and add new revenue streams

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 12, 2020, 12:47 PM UTC

Data collected from AI-based products can help brands improve products designs and build efficient products.

With the rapid growth of smart products connected to the Internet of Things (IoT), manufacturers must build products integrated with artificial intelligence (AI). Incorporating AI into electronic goods and appliances with smart solutions can help brands resolve consumer problems and make their lives easier.

The author contends developing AI-based products, allows brands to provide add-on AI-driven services and create new revenue streams. Building products with AI capabilities can help brands to collect data on consumer habits and preferences at scale.

As consumers expectations grow, brands can capitalise on the information collected from AI products to understand them and respond to their “micro-moments”. Product manufactures can use these insights to improve product designs and develop new desirable and attractive products for consumers.

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