Generative Artificial Intelligence (AI):

Generative Artificial Intelligence refers to programs that make it possible for machines to use things like text, audio files and images to create content.

There are four key areas where current deep learning programs have become much more sophisticated and successful:

Quasi-Life Like Images and Models

A good example is that of a human face that has actually been rendered by what is known as a generative adversarial network. What looks like a real human face is a compilation of a series of data sets taken from numerous images of human faces. It is a computer model of a model.

Language Translation

The concept of a multilingual robot for international events or branding campaigns on a global scale cannot be more emphasized upon. While the robots have still not caught up with the humans in language translation abilities, deep learning researchers and program developers have found a new technique (known as sequence to sequence) that is improving the results in common programs like Google Translate and customer service chatbots.

Image Understanding

Machines are getting better at accurately recognizing objects in an image, thanks to sophisticated deep learning algorithms. Suppose one has a database of millions of images, but the ask is to have an extremely specific idea about the handful of images that would make for the perfect logo or infographic for a campaign? Generative AI programs that utilize image understanding can not only shave off value time (and ultimately money) from the design process, but they may also help to deliver more accurate and targeted results.

Sequence Prediction

For creative content creation, sequence prediction and advanced pattern recognition is like the image generation magic, but for text. Just as the program can connect disparate data points to generate an artificial image that accurately resembles a human face, smart machine learning programs can train for handwriting and text sequences that resemble something produced by human hands.

The ability to use and optimize all the data quickly and efficiently is one of AI’s most valuable contributions to the event marketing industry. Events and campaigns can be more targeted and granular than ever before, thanks to the ability to know your audience and customers more intimately than ever before.

Some ways generative AI is transforming the events industry include, facilitating and speeding up checkins, security, improved customer service, facilitating seamless connections and networking opportunities, targeted personalization, performance monitoring and quality control, and last but not the least, anticipating problems before they happen (never run out of coffee again)!

NFT

Non-Fungible Ticket is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are bought and sold online, frequently with cryptocurrency. Also, they are encoded with the same underlying software as many cryptos. NFTs (Non- Fungible Tokens) have been around since 2014, however they are gaining popularity now as they are becoming an increasingly widespread way to buy and sell digital artwork.

This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it is in demand.

But many NFTs, at least in these early days, have been digital creations that already exist in some form elsewhere, like iconic video clips from NBA games or securitized versions of digital art that is already floating around on Instagram.

Anyone can view the individual images—or even the entire collage of images online for free. So why are people willing to spend millions on something they could easily screenshot or download?

Because an NFT allows the buyer to own the original item. Not only that, it contains built-in authentication, which serves as proof of ownership. Collectors value those “digital bragging rights” almost more than the item itself.

From a brand’s perspective, they can monetize their best-performing ads multiple times over by turning them into NFTs. Customers can buy a piece of the brand’s history in the making! A recent example would be Indian automotive giant Mahindra’s Thar, whose Non-Fungible Token (NFT) named ‘Standing Tall’ was sold for a record price at its auction!

Metaverse

The buzz word around us today is Metaverse—a unique, immersive virtual environment that is quickly taking over the internet. To set context, we might have seen something similar in movies like The Matrix series, but now it is more than fiction.

With Virtual Reality (VR) and Augmented Reality (AR) taking centre stage, metaverses are penetrating the internet. While the Metaverse is not exactly what scifi has depicted it to be yet, it continues to produce unimaginable value as a new computing platform.

Key characteristics of Metaverse are that it is always active, exists in real time, players have individual agency, it is self-contained, is a fully functioning universe, a mix of different platforms and consists of user-generated content.

As digital marketers, we need to keep up to speed with the latest technological developments. This includes understanding the metaverse and its full potential. What marketers need to understand is that metaverse is not just a trendy new thing; it seems like it is here to stay and is making its way to be the next big thing.

Talking about the future, many companies are investing in metaverses. They are betting on it, not just for entertainment purposes, but for business and professional purposes as well.

Additionally, Silicon Valley in general, has been busy betting on metaverses as the internet’s next generation. There are also plenty of games, Fortnite and Animal Crossing, currently incorporating metaverse-like elements on their platforms.

If this doesn’t excite one much, people are buying real estate in the metaverse, particularly on Earth 2. Now that’s something to keep an eye out for.

Edge Technology

Customer interactions are overwhelmingly digital – and emerging technologies such as the Internet of Things (IoT), robotics, and virtual reality will only intensify their dependence on data. That is prompting some organizations to rethink the topology of their IT systems, moving data back from the cloud and closer to the customer, in order to reduce latency, among other benefits. Experts, therefore, expect Edge Computing to play a central role in the evolution of the customer experience (CX).

Edge Computing is all about bringing processing and storage capability closer to where data is generated. This distributed computing is a great infrastructure strategy where ultra-low latency and real-time response are critical to application performance and user experience.

The future of computing is already active to anyone who runs a network. There are already over 50 billion devices connected to wireless networks. So, more the internet will be populated with IoT devices a decade from now, self-driving cars and robots, for example, will generate a tremendous amount of data just in one hour. Video monitoring systems that collect enormous amounts of data are also expected to proliferate.

Today, each ATM is a tiny data centre, for instance. And the user interface on Amazon’s voice-activated virtual assistant, Alexa, doesn’t rely on round-tripping every piece of data to the cloud. Some of it is analyzed on the machine.

For financial service providers that rely on real-time data and must conduct transactions as quickly as possible (e.g. stock trading applications), every millisecond counts. The reduced latency offered by edge computing, along side delivering promotional offers from the edge, can help them more easily localize content to specific audiences, such as a promotion running in a specific area. This can make a big difference in their overall customer experience.