Let’s get real about AI was the subject of our second event this year, in conjunction with the Financial Services Forum.  While our earlier event in March discussed the ethics and challenges involved in the use of genAI for marketing and product dev, this second event was focused on actual use cases.  

With thanks to our amazing panel who provided a range of perspectives:
- Ben Lee, Head of Data & AI, Bidwells
- Michael Jung, CFO and Head of Global Business, DeepBrain AI
- Danielle Moore, Digital Marketing Manager, Lifesearch
- James Maxwell, Executive Creative Director, Teamspirit

Setting up the conversation, Chair Fiona Couper, CMO, Teamspirit, outlined the transformation expectations that generativeAI will have on financial services brands and their communication remain high.

According to Gartner[1] by 2025, 30% of marketing messages will be AI generated, up from less than 2% in 2022. While over 70% of consumers expect AI to negatively impact social channels, so much so that by 2025 50% of consumers are expected to significantly limit their use of major platforms due to a decay in the quality of social media sites - which for marketers, means creating new search and channel strategies for lead gen.

In financial services specifically, use of genAI is widening across operations, with banks’ spending on genAI, as estimated by Juniper Research, set to rise from the current estimate of £4.5bn in 2024 to hit £64.3bn globally in 2030[2].   

Chipmaker NVIDIA’s State of AI in Financial Services report found that 46% of respondents reported an improved customer experience as a result of using AI[3].  The same report found:
- 26% of fs companie are using Natural language processing (NLP) or large language models (LLMs) 
- 23% are utilising recommender systems / next-best action 
- 12% are using AI for their environmental, social, and governance (ESG)
- 12% use it for fraud detection across anti-money laundering and know your customer.

Headline makers in the past few months include:
- NatWest’s AI chatbot, Cora, handled 10.8m queries in 2023 and the bank is rolling out Cora+ with IBM which promises to deliver a more seamless ‘human’ experience’ using the latest AI innovations[4].
- In May this year JPMorgan Chase launched IndexGPT, a ChatGPT-like A.I. that builds thematic indexes currently for institutional clients[5], which they believe will result in an increase in client engagement and broader adoption of quantitative techniques applied to thematic indexes.
- Bunq, the EUS 2nd largest neobank, is expecting to automate 90% of operations with the help of AI and leading to new hires in areas such as AI management and compliance and predictive analytics. 

The panel began by sharing a topline on how AI is being used in their respective businesses, with both Bidwells and Lifesearch building on use that began either during or coming out of Covid.  Repetitive tasks have been sped up, such as note taking, outlining case studies, content brainstorming, creative concept ideation and business development.  

For all, despite early concerns around usage in the businesses, the benefits have outweighed concerns and the challenge is more around ensuring its use and implementation is used well.  Human direction and judgement remains vital.

Conversation then turned to discussing how to create better tailored communications and ensure consumer confidence/trust.  Counteracting the risk of AI homogenisation the panel agreed on the need to use AI as a helpful tool rather than the finished product.

For DeepbrainAI who specialise in creating AI Avatars the business is wholly focused on helping to scale businesses and at a reduced cost.  Michael Jung shared a couple of examples from retail banks in Asia where avatars deliver an improved and more personalised experience.  

Ben Lee, Bidwells talked about how AI is helping across multiple areas of the business especially internally and could see how the use of avatars would be hugely beneficial in onboarding inductions for new employees, and in bringing key policies to life.  How much more engaging to watch an avatar of the Chief People Officer than wade through the dry text manual.  He also talked about the ability to start to interact within the text which will make life even easier.

Danielle Moore, Lifesearch, shared how she is focusing on the impact of Google’s Search Generative Experience (SGE) on search engine results pages (SERPs), exploring how this evolving technology reshapes digital marketing landscapes and enhances user interactions - particularly as google is no longer the search engine of choice for the younger generation who are happy to use social platforms such as TikTok.

From an agency point of view, James Maxwell, Teamspirit spoke of AI helping inform strategy, concepting and as a helpful copywriting tool to build on.  But reinforced that human guidance and differentiated brand personality are even more vital in an AI underpinned world.  Particularly for financial services where trust is so fundamental.

Questions from the floor ranged from how to ensure AI imagery and avatars still met Consumer Duty requirements (achieved by ensuring clear supers), distinction in a world of AI (by using AI as a helpful tool rather than the whole answer) to whether there remained some fear around its usage and giving ‘the machine’ too much power (reality is that careful trial is required).

In conclusion, the panel all felt that AI was a helpful addition that made their jobs easier and freed up time to allow them to focus on the more strategic and creative requirements.

If you’d like to discuss how to use your brand's personality to ensure a more distinctive brand experience in a world of AI, you know who to contact [hello@teamspirit.co.uk](mailto:hello@teamspirit.co.uk).

## Sources:

1. Gartner 2024 CMO Priorities
2. [https://www.cityam.com/theres-little-room-for-caution-banks-and-fintechs-gear-up-for-ai-revolution/](https://www.cityam.com/theres-little-room-for-caution-banks-and-fintechs-gear-up-for-ai-revolution/)
3. [https://resources.nvidia.com/en-us-state-ai-report/finance-survey](https://resources.nvidia.com/en-us-state-ai-report/finance-survey)
4. [https://www.cityam.com/theres-little-room-for-caution-banks-and-fintechs-gear-up-for-ai-revolution/](https://www.cityam.com/theres-little-room-for-caution-banks-and-fintechs-gear-up-for-ai-revolution/)
5. [https://www.pionline.com/money-management/jp-morgan-chase-launches-indexgpt](https://www.pionline.com/money-management/jp-morgan-chase-launches-indexgpt)


AI Applied. Let’s get real

### In today’s rapidly evolving business landscape, sustainability has transcended the realm of buzzwords to become a baked-in pillar of business strategies.

### However, sustainability in branding extends beyond just reducing carbon footprints; it entails the creation of a durable and enduring brand identity.

Ultimately, a brand’s assets need to be adding value at every touchpoint. Having a strong brand ecosystem, or brand world, that enables a brand to show up consistently, is definitely worth it – in fact consistent branding has been proven to lead to a 23% increase in revenues (1).

But as technology, particularly Artificial Intelligence (AI), continues to redefine various aspects of our lives, it has emerged, perhaps inadvertently, as a catalyst to fortifying the foundations of sustainable brands.

After all, this is an era of urgency. From the 24-hour news cycle, to urgent global challenges, to the rapid onset of incredibly fast asset creation through AI, brands, brand owners and marketers can feel that they must always act in haste. But at what cost?

In this paper we are looking specifically at the effect of a rushed, AI-speed world on financial services brands, and how to create strong brands built to adapt and last. We explore the key components of what makes a strong brand in this new world, and how to maximize brand assets.

*__“In an AI world, a strong brand has never been more vital.”__*

Read more in our latest report: [Sustainable Brands in the Era of Urgency](https://assets.ctfassets.net/sxw14dxmazhg/3n2htqNs4tyWVTNbvGlyD2/f1d1441c2e38601d212a88d8badfddeb/Sustainable_Brands_in_the_era_of_urgency.pdf)
<br>

![sustainabilityreport-ts-2](//images.ctfassets.net/sxw14dxmazhg/6Cbk8FNXEwXwbrngtOeYl1/c88cbfee4218fdfbb24d39dbdf9f15d4/sustainabilityreport-ts-2.png)

__Sources:__

1. Strategies to go digital so that your brand survives. Forbes September 2022.

As we navigate the era of urgency and rapid technological advancements, it is imperative for financial services brands to re-evaluate and strengthen their brand assets to ensure sustainability. Read more in our latest report. 

Brands in the Era of Urgency

### In today’s rapidly evolving business landscape, sustainability has transcended the realm of buzzwords to become a baked-in pillar of business strategies.

### However, sustainability in branding extends beyond just reducing carbon footprints; it entails the creation of a durable and enduring brand identity.

Ultimately, a brand’s assets need to be adding value at every touchpoint. Having a strong brand ecosystem, or brand world, that enables a brand to show up consistently, is definitely worth it – in fact consistent branding has been proven to lead to a 23% increase in revenues (1).

But as technology, particularly Artificial Intelligence (AI), continues to redefine various aspects of our lives, it has emerged, perhaps inadvertently, as a catalyst to fortifying the foundations of sustainable brands.

After all, this is an era of urgency. From the 24-hour news cycle, to urgent global challenges, to the rapid onset of incredibly fast asset creation through AI, brands, brand owners and marketers can feel that they must always act in haste. But at what cost?

In this paper we are looking specifically at the effect of a rushed, AI-speed world on financial services brands, and how to create strong brands built to adapt and last. We explore the key components of what makes a strong brand in this new world, and how to maximize brand assets.

*__“In an AI world, a strong brand has never been more vital.”__*

Read more in our latest report: [Sustainable Brands in the Era of Urgency](https://assets.ctfassets.net/sxw14dxmazhg/1v5ywOij3YHUVvEJV3wvyy/1bcdae7f49bf548cfab9ac23ff7d15da/US_Brands_in_era_of_Urgency_Report.pdf)
<br>

![sustainabilityreport-ts-2](//images.ctfassets.net/sxw14dxmazhg/6Cbk8FNXEwXwbrngtOeYl1/c88cbfee4218fdfbb24d39dbdf9f15d4/sustainabilityreport-ts-2.png)

__Sources:__

1. Strategies to go digital so that your brand survives. Forbes September 2022.

## What's going on? 

In the past, everyone has treated B2B and B2C separately, but really it’s all business to human (B2H). If you want to move products, you need to move people. And if you want to move people, you need to move their minds. So, we need to create content that engages on a human level – that’s what B2B marketing should be all about. If we spent as much time engaging with our audience, as we did on perfecting features, benefits and our performance marketing funnel, we’d start to see the quality of sales leads improve dramatically.

## Why does it matter?

As the world becomes more digital, we appreciate real human engagement and conversation more than ever. If you really want to drive growth in your business, it’s time to wake up to the power of branding, purpose, storytelling and emotion. This will help your brand become more meaningful in the minds of your audience. Business audiences want more from you than product features or benefits. They want to be entertained, educated and made to feel special. They’d love to know what your business cares about, what you value. Crucially, they want to be treated as human beings, not as buying machines.

## What can we do?

- It doesn’t mean performance marketing should be ditched. Instead, consider tone of voice alongside conversational and colloquial language, and simplify complex topics and themes as if talking to a friend, and reel them in with a story where people need to hear the ending. 
- Become experts in people, emotion and storytelling. Become a trusted educator for your customers; learn for yourself and experiment. Find out what your customers are really experiencing when they engage with you. 
- Be more human. It will make you more likeable, and if you’re more likeable, the chances are you’ll be more profitable, too.

---

__For more from our 2024 Signals Report, read the full piece [here](https://assets.ctfassets.net/sxw14dxmazhg/jNSe8xFxo3VnUarFvWZCt/63fc7b5d494576b1889826043fe98b42/Teamspirit_-_2024_Signals_Report.pdf). Or if you’d like to discuss the impact of these signals on your business contact us at [hello@teamspirit.co.uk](mailto:hello@teamspirit.co.uk).__


In the past, everyone has treated B2B and B2C separately, but really it’s all business to human (B2H). If you want to move products, you need to move people. And if you want to move people, you need to move their minds. Are we losing this?

In marketing, are we losing sight of ‘Business to Human?

Google has announced plans to let marketers re-target people across devices for the [first time](http://marketingland.com/google-cross-device-remarketing-launches-192819).

Until now, if a user visits a site on mobile they can’t then be re-targeted on desktop. And if they do revisit the site on desktop they are effectively listed twice, causing problems for frequency and cost metrics. Google’s announcement changes this.

It follows their joint study with Ipsos, which revealed that 60% of online conversions in America start on one device and end on another. Now, advertisers using Google data will be able to help facilitate cross-platform conversions.

To begin with, cross-platform re-targeting will be limited to signed-in Google users, though with 1 billion people using Gmail a month alone this still represents quite a large initial roll out.

Google will help you keep your conversations going

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In marketing, are we losing sight of ‘Business to Human?