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RESEARCH, ANALYSIS & TRENDS
AI is the ultimate success factor for
tomorrow's economy
Are you wondering why artificial intelligence is Claudia Buente, the author of the book, gets granular
being discussed so intensely in business and the on China’s AI ambitions to make an impact in today’s
media right now? Well, after the internet, digital world economy. Just like Dr. Kai-fu Lee, a respected AI
transformation and automation, artificial expert and author of the book AI Superpowers, she is
intelligence seems to be the next kind of panacea convinced that China and not the USA will be the world
for businesses, especially for marketing and leader in AI technology, simply because China has the
sales, which can be used to interact with largest population on earth with 800 million people
consumers faster and better. Hence, the leading “mobile only”; thus producing huge amounts of data.
industrial nations have long seen AI as one of the Besides that, China has a data protection law that
key technologies of this century and are allows combined analysis of data and the one-party
supporting it with large financial resources. government focuses on AI.
With her book, she wants to show the world where
Jürgen Schmidhuber, a renowned researcher in the Chinese marketing and sales systems currently stand
field of AI, makes this point clear in Prof. Claudia and what we can learn from learn it, pointing to Kai-Fu
Buente’s recent book, Die chinesische KI-Revolution Lee who explains that the arrival of AI in our daily lives
(engl. ‘The Chinese AI Revolution”), stating that the is approaching in four waves.
most profitable effects of AI seem to be in the field of
marketing. He argues that just a small part of around Wave 1 – the Internet AI: According to Lee, that’s
2% of marketing in the global economy are enough to currently the phase we are in. Users are more and
make companies like Amazon, Alibaba, Tencent, more online, and an AI can collect and interpret data:
Facebook, Google, or Baidu the most valuable the “output” orientations necessary for a learning
companies in the world, Then, kicks his thought up a system are, for example, “clicked” versus “did not click”,
notch he claims that what already works very well and “bought” versus “did not buy”, “was on one page for a
is very profitable for some companies is only the tip of long time” versus “was not on one page for a long
the iceberg and will soon affect a much larger part of time”, and end products are, for example, referral
the economy. marketing ("Users who viewed this article were also
4 January 2021: AI & Automation in Marketing