The advancement made in analytical engines and machine learning processes hold great promise conducting business processes that are repetitive, as outlined by the article. The author goes on to point out how pattern recognition and population segmentation has become increasing automated with the aforementioned advancements. So what is the core functionality that is essential in the marketing effort?
Marketing is built on consumer behavior — understanding what consumers want and delivering on a promise. Yes, technology will push some marketers out of the industry, but only those who keep their eye on a dashboard instead of the consumer.
Mercator Advisory Group recognizes that tools driving to efficiency in accomplishing number oriented tasks will more and more often fall to robots. However, these are tools for accomplishing a task that is set before the FI marketing professional to provide awareness to the public of solutions to the challenges encountered by a segment of the public. We envision a time when the solution for a particular financial challenge will be anticipated and provided in a seamless stream. At its core will be the human ability to recognize the human propensity to see the given situation as a problem in need of a solution. That ability will remain the domain of the marketing professional. But we have a long way to go in that respect. Much of the marketing automation as it exists is still a labor arbitrage play.
Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group
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