Ivy League Professor introduces a framework to better understand the implications of generative AI on digital marketing.

NetElixir, one of the fastest-growing independent digital marketing agencies in the United States, conducted a live fireside chat yesterday with Jerry Wind, the Lauder Professor Emeritus and Professor of Marketing at The Wharton School at The University of Pennsylvania.

The key takeaways from the chat between Professor Wind and NetElixir’s Founder and CEO Udayan Bose on Innovation and AI: How To Prepare For The Future Of Digital Marketing include:
— The importance of creating a culture of experimentation within your brand
— Add an element of AI to each of your experiments to optimize brand growth
— Reinvent your talent strategy by democratizing access to new talents and skills through open innovation
— Learn to use AI effectively through continuous testing and experimentation across your business
— Adopt models of digital transformation as a competitive advantage now to thrive in the future

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“AI allows us to do things we were not able to do before and helps us do things more efficiently than before. Think of AI as your co-pilot.”

“No firm that ignores the need for digital transformation will survive — it’s a must,” Professor Jerry Wind said to Udayan Bose during the fireside chat. “You should rely on the right agency and rely on sourcing open talent, but you have to change your mental model to ensure you are ready for digital transformation and ready to commit. Today’s consumer wants, more than anything else, real-time personalization experience. You cannot deliver without effective digital transformation and you have to [transform] now.”

It is no secret that generative and conversational AIs are radically disrupting the traditional marketing and digital landscape. ChatGPT is one of the most quickly adopted innovative technologies in digital history. Employing AI and innovative experiments is the new competitive advantage in this ever-evolving digital landscape.

A crucial element to fully adopting and leveraging AI across all sectors is a change in mental model; AI is not a competitor, but an enhancer to human creativity and ingenuity. AI can build a stronger foundation from which the human element can build upon through criticizing and challenging answers to generate the desired outcome.

“AI allows us to do things we were not able to do before and helps us do things more efficiently than before. Think of AI as your co-pilot,” Professor Wind advised. “There is no way you can ignore the power of AI — it is a tool, an integral tool. Every aspect of our lives can be improved through the smart use of AI tools, so start experimenting with it today and don’t wait. Enjoy experimenting and experiencing new technologies.”

Professor Wind’s recent research explores marketing-driven business strategy, creativity and innovation, and AI for customer engagement. He is currently working with Amelia, a conversational AI, to build new educational paradigms that leverage AI for experiential learning. NetElixir is an AI-first e-commerce growth partner that

View the recording to relive the insights shared during our fireside chat and download NetElixir’s new checklist for AI success, Illuminating the Path to Marketing Excellence: 8 Recommendations For The AI-First CMO.

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