The trend towards privacy cannot be disputed.There it is.It cannot be stopped. One of the few topics in American life that cuts across political lines is this one.
According to research, 86% of individuals care about their own and other people’s privacy, and 79% are willing to take action by devoting time and money to safeguarding their data. The same study also revealed that 47% of individuals have taken action as a result of a company’s data practises, debunking the notion that people only complain about privacy and do nothing.
What does this mean for the trillions of dollars that the same privacy intrusions that are upsetting customers are causing to flow through the U.S. economy? Consider that Meta acknowledged that Apple’s change in privacy policies has cost them billions of dollars and will continue to do so. This situation seems to be a seismic problem.
But for businesses that are feeling the effects of Apple’s switch from opt-out to opt-in, artificial intelligence might offer a remedy.
Data challenges include maintaining privacy while allowing the economy to grow. Robots, self-driving cars, drug discovery, and a new generation of intelligent assistants that never double book you are just a few examples of how AI, machine learning, and neural networks have already revolutionised our lives.
Without a question, AI can power platforms and solutions that safeguard privacy while providing users with the digital experiences they need and generating revenue for enterprises.
What do those encounters entail?Every Internet user may easily and intuitively understand it. Only when it makes our life simpler do we want to be acknowledged.That entails identifying me so I don’t have to endure the arduous process of entering my data again.Giving me information that is timely, pertinent, and in line with my needs also includes serving me ads.
The “personalization economy,” offers a wide range of opportunities. Two white papers by McKinsey were written about the scale of the opportunity and proper execution. The word “privacy” isn’t mentioned once in either of those white papers, which is both interesting and telling.That error, which ignores the conflict between privacy and personalisation, is extraordinary. Millions of customers will lose out if you succeed in the first but sacrifice the second.
The human brain is hardwired to need personalization and recognition, and AI can strike the right balance between these two desires. This is known as privacy-respectful personalization, or PRP.
Here are five ways that AI can usher in a new era of PRP to enable relevancy and benefit both business owners and brands.
1. Develop systems that can instantly process millions of inputs in context and behaviorally without using cookies or user IDs.
Importantly, this needs to be done in a straightforward manner that can be quickly placed on the open web and doesn’t involve any code.
AI will ensure that individuals who need to find a market for their good or service are not left out by the unstoppable privacy trend in this way.
As a result of this AI revolution, there is a chance to develop a “privacy seal” that informs the 79% of consumers who will stop engaging with brands that invade their privacy about an ad unit’s cookie-free status and goes beyond the essential requirements of GDRP compliance and other requirements (like TrustArc).
2. Create first-party data using AI.
We are aware that when there is genuine reciprocity in a connection, people will share information.The ultimate objective is to discover the most qualified and interested EV buyers at the top of the funnel. As an illustration, an EV manufacturer can utilise a PRP platform to promote its vehicles and draw individuals into the marketing funnel.
By evaluating the appropriate signals, such as daypart, geography, and time spent on the advertisement, as well as by asking the appropriate questions in a quiz to determine intent, a smart and trained AI model can convert leads that are created by PRP advertising first-party data.
And rather than have copywriters scribbling away to create thousands of testable messages, marketers can use GPT-3, an AI-led deep-learning model that produces human-like text, to inspire the reciprocity.
3. Make use of AI to inspire, involve, and interact with first-party data.
The same AI that can create first-party datasets must be used to make more precise connections with users.
However, this is not happening right now. Despite having the ability to use AI to accurately identify me as an individual, database marketers continue to send emails to the entire file. Marketers will continue to underleverage the databases they have spent billions building if the industry doesn’t employ AI to usher in a new era of PRP.
Build an AI-driven flywheel that generates money in a world where privacy comes first, in other words.
4.AI can help marketers make better use of creators and influencers
This rapidly growing industry is revolutionising marketing and, in part, is what allowed TikTok to surpass Facebook in terms of traffic last year. Triller recently acquired Julius, bringing together an influencer platform and software solutions in an AI-driven combo that will improve marketers’ ability to locate pertinent influencers.This is an internal PRP method of producing even more first-party data.
5. AI plays a significant role in preserving privacy by securing data from hackers, going beyond only marketing.
In the area of adversarial learning, AI has some of the most fascinating applications. Consumers are taking a more comprehensive approach to privacy, considering not only what marketers do with their data by selling it and following them, but also what steps are taken to protect that data from breaches.
Human nature will not change; it has never changed. We desire to be acknowledged as distinctive individuals and have highly developed instincts for defending our family and selves against unwanted and unauthorised invasions. Marketers who take advantage of PRP first will steer their companies into the future, and AI can ensure that both of those needs are satisfied.