Transcript
WEBVTT
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Welcome back to beb growth on Logan
lyles with sweet fish media. Today I'm
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joined by Tim Burke. He's the
CEO over at a Fineo. Tim,
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how's it going today, sir,
great, great to talk today. Absolutely,
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man. I am excited to dive
in. We're going to be talking
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about the changing data landscape and what
that means for marketers, both regulatory changes
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that we're all kind of familiar with, looking at how we manage all that
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data and what do we do about
this changing landscape. For some context,
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why you're the guy sharing about this
today. Gives a little bit of background
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on yourself, Tim, and what
you in the Afineo team are up to
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these days. Yeah, all this
great. Appreciate the time, Logan.
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So my name is Tim Burke,
CEO of Afineo. We built the company
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but seven years ago, and just
little bit of background on a fine itself.
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We're an augmented analytics platform and we're
built on a custom graph technology,
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and what that fundamentally means is that
we analyzed data in a little different way
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than many people were, looking for
specifically the connections in data and trying to
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identify those common behaviors and affinities across
massive consumer data sets and then, once
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we unlock those, we able to
provide that into an insight layer that's easy
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to use and visualize so that the
marketing teams can generate data gerven strategies and
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targeted octivations. Ultimately, so helping
teams do everything from content ideation and strategy
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to hyper targeted in person last content. I love it. I always say,
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you know, we're just swimming in
data these days, but we I
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mean you hit on two things that
are so key to actually making that actual.
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How can we analyze it, analyze
it quickly, and how can we
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visualize it so that we can see
the trends and then take appropriate action?
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So we wouldn't be able to talk
about data without talking about some of the
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regulatory changes going on. Everyone you
know what was up in arms and my
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linkedin feed was full for about a
month on gear our last year. But
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tell us a little bit about some
of the things that have changed over the
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last year or so for some context. Then we'll get into you know,
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what can marketers do about it?
But I think that stage setting still a
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little bit appropriate, though I think
everybody listening to this has heard of gdpr
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at least. So, yeah,
right, no, I mean I think
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we live in really interesting times.
Right. It's with the things like Gdpr,
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CCPA that are obviously emerging from a
privacy perspective. I think consumers as
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a whole have a whole new perspective
exactly of what kind of data is being
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collected us on a regular basis,
how that data is being used and want,
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you know, have opinions and want
to know exactly how that day is
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being used. And as a result, that's transition being master changes in the
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marketplace relative to third party data,
third party did exchanges, not the least
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of which, you know, most
recently, or street Google's announcements of third
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party cookie, you know, not
being sort of supported within the chrome browser.
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So we've seen the trends, you
know, emerging, I would say,
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over the last couple of years.
I think we will continue to see
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privacy be at the forefront and ultimately, what that means to, you know,
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today's marketers, for me anyway,
is that I look at it from
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that changing landscape of being, you
know, parties and groups and teams being
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able to rely heavily on sort of
insights derived from segments and third party data
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or being able to use, you
know, oftentimes the ad targeting platforms of
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the likes sort of facebook and Google
as from the foundational starting point for insights
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from marketing. Now we're transitioning into
a phase where everybody has to collect first
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party data. That's obvious and clear. But, more importantly, have to
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do more with that first party data
and I think that's kind of the interesting
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trend that we're starting to see in
the market. I tell people that,
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you know, we've been storing and
you know, enterprises have been storing first
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party data for years. I think
we're starting to see the gap in the
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market place is and how you store
and manage that date. It's how you
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make it meaningful and actionable and put
insights and actual insights in the fingertips of
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the entire organization. That becomes now
the challenge that has to get addressed by
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the enterprise, and so I think
it's interesting. I think the you know,
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the all the way down to the
emergence of things like be to see
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brands that are, you know,
trumping, you know, the the old
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enterprises in a lot of their own
businesses, and often times it's a boat
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how they're leveraging their data faster and
more nimble, and that translates into better
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strategies and winning in categories that you
know haven't moved or having changed in a
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long time. Yeah, absolutely,
and you talk about, you know,
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kind of the first step when it
comes to data management is where's it coming
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from? You talked a little bit
about first party versus third party. One
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of the other challenges that you guys
have been seeing, Tim correct me if
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I'm wrong, is how that data
is being handled internally, because you have
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to be careful about who's touching that, what teams have access. It can
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create some real bottlenecks for marketing teams
to be able to leverage that date,
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even when they've got it from appropriate
places, right, and that's good.
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That's absolutely correct. I would say
that, you know, some of the
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you know, the number one pain
point we here directly in Mark I is
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the reliance on oftentimes sort of the
data science or analyst teams, who are
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simply just overwhelmed, right. I
mean they oftentimes have higher level data security
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and authorization, so they end up
being the teams who can actually access the
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raw data and the PII. That's, you know, tends to sort of
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reside within the data warehouse or within
the seat Ram. So they sort of
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become sort of this fun, you
know, the single point of contact you
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to the raw data set. And
as a result, those teams are becoming
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backlogged with just requests from all across
that, you know, all across the
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enterprise and marketing. He's just one
of those groups, right. I mean
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they're handling and managing request from sales, from operations, from Yo HR,
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everywhere. So I think the the
CH challenge is that you with the with
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certainly the increased sensitivity around privacy,
which is completely appropriate in terms of,
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you know, the concerns for the
enterprise. The solution to date, or
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are you know what I would deem
the state of the art, is employing
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large data science teams to try to
find insights and try to scale that within
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an organization. But I mean the
reality is that those teams simply aren't scalable.
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Are the data volumes are increasing almost
faster than those teams can manage it,
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and not only that, the requests
that are coming in down to those
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teams. He's growing as similarly an
exponential rate, and so for us,
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I think we're sort of hitting a
tipping point that to manage privacy means,
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you know, not allowing everybody in
your organization to be able to reach private
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data and Pii data, and that's
the right decision. I think the the
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approach at that most organizations are trying
to take the to overcome that challenge.
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He's just simply not scalable now and
I think we're starting to see that come
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to light in a lot of organizations
who are simply challenged by growing their data
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science or analyst teams fast enough to
address the need within the market. And
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the default, unfortunately, within many
of these enterprises and organizations then tends to
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be, you know, those marketers
and sales people and those who actually the
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advertisers who actually need those insights,
you know, are suck sort of doing
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best guesses and, you know,
using traditional techniques and pulling on old static
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data from a survey from a year
ago. Right. It mean, it's
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it's pretty remarkable. What we have
to default to is pretty rudimentary. Can,
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given what the power of that data
reside sort of in those private data
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warehouses and, you know, in
the private cloud, could actually unlock for
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those people if it was feasible.
Yeah, it's really interesting the way those
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dynamics unfold and what the realities actually
are. Relying on old data, taking
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guesses. It's like we're stepping backwards
quite a bit. You know, you
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talked about the volume of data,
the volume of request that data science teams
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are seeing, not only from marketing
but from other functional areas like hr and
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it seems like every time in these
sorts of conversations, when it comes to
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we've just got so much volume of
information that needs to be processed, the
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conversation turns to Ai and in your
opinion, Tim there is some opportunity there,
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but also kind of proceed with caution. Tell us some of the ways
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you see teams leveraging ai effectively and
where they're going, but not going,
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in leveraging that sort of technology to
solve this problem. Well, I think
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it's sort of the holy grail,
right. I mean I think in market
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and certainly for the end users,
the promise of AI is nothing new,
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right. We've heard about if we've
heard about the growth and emergence. There's
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been massive investments. Many of the
biggest players in sort of the MARTECH space
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are basically doing heavy investments in terms
of their own applications in AI. Although
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I think some of that is simply
at to date has fallen short, and
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I think that's for a number of
reasons. I think oftentimes the application of
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sort of generic models of a I
just don't align with workflows. I think
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oftentimes the interpretation of the results are
questionable and therefore it's sort of your people
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lose faith in in emerging models fairly
rapidly and have to get sort of comfortable
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with how they come you know,
how those models are actually drived and what's
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it? What's valid and real information
versus what isn't? But Net net.
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I think the the marketers as a
whole, I think are are sort of
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waiting for, you know, the
actual outcome that's been promised of the AI
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engine to come true, and I
think we're starting to see some levels of
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that, but I would say it's
still mason and I think it's probably growing,
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you know, in emerging slower than
many of us anticipated. I mean,
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I'm personally sort of blown away still
to this day that we have autonomous
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vehicles who can navigate, you know, any areas of North America with these
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except simple questions of a marketer about
like who is our customer and what makes
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them unique? Goes unsolved within many
organizations. Rightly, it's he's just doesn't
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it doesn't seem to make sense that
we've unlocked, you know, some of
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the more challenging aspects and yet the
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You mentioned something there, Tim the
application of Ai not fitting with workflows
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that are just that need to happen
in in daytoday environments. Can you give
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us maybe an example there of where
that disconnect is? Maybe there are some
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folks listening to this that have had
a similar experience or they're thinking about this
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application and looking ahead to maybe they
can for see some row of blocks that
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that you guys have encountered or some
of your customers have encountered in that area
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that you mentioned there. Yeah,
I think the I think the the most
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significant challenge with respect to AI applications
in most businesses is the fact that,
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although we sort of the envision ai
is being this fully automated, just throw
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the model that you know, throw
the data at the model and it will
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solve kind of anything. From most
cases that's just not real. You know,
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models are built for certain specific purposes
they you know, and even in
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terms of our underlying graph technology.
Right, it's very good at doing very
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specific things like community detection, like
anomaly detection, right, like identifying common
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affinities between, you know, and
patterns across mass data sets, but it
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doesn't answer everything, right. So
anybody who sort of, you know,
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is expecting, you know, a
single single source or single code to basically
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unlock all answers across all date,
I think is unreal what I think you'll
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start to see emerging, and this
is my expectation over the next three to
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five years, is you will start
to see sort of very purposefully built ai
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solutions that basically addresses specific workflow and
a repeatable request, right. And so
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for US personally, the sort of
number one request we hear from marketers,
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you know, against sort of the
their consumer data, is things like,
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you know, find me common signals
across certain buyer behaviors. Right. What
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are sort of the data driven behaviors
that we can find a cont you know,
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commonly a cross in our entire customer
base, and what did those segments
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look like and how do they differ
between segment of segments? So they're unlocking
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to me is you know, the
the unlockinged power of AI at the foundation
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starts with unlocking those repeatable business requests
and sort of aligning ai and specific algorithms
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to solve those repeatable requests. And
that, I think, is going to
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be how you sort of see ai
emerge within the marketing and advertising as advertising
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space, as sort of it has
been predicted today. Yeah, that makes
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a lot of sense. So,
you know, for marketers listening to this,
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you might want to take those promises
of broad applications of AI. Just
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dump everything in, as you were
saying, in all sorts of insights will
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come out. Take those with a
grain assault. Instead, look for where
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they're very Nige applications of AI to
identify, you know, repeatable patterns.
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Where are those things that we know
kind of what needs to go in and
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what needs to come out, because, you know, it's it's an equation,
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it's an algorithm, that's exactly and
so you have to know what's the
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starting point, what's The endpoint?
But oftentimes we can figure those out.
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We can with some human intelligence.
Right, let's talk about human intelligence a
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little bit. The AI is only
going to be, you know, as
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smart as we train it to be. In there has to be a repeatable
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pattern so that we can train it. You talked a little bit earlier about
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kind of democratizing data science, training
it marketers other functional roles, as you
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know, quasi data scientists. Took
a little bit about that and other steps
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that you think teams can take tim
to address some of these problems that we've
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spent a good portion talking down.
I want to give people some some hopes,
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some tactical takeaways. What can they
do today? What are some of
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the steps they should be taking in
the light of all this? Yeah,
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no, and I think it's first
and foremost. I'll clarify that. You
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know, for me, to marketizing
data science doesn't mean getting a rid of
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the data science teams. I think
the investment of those teams is super valuable.
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I both and I actually think that
they're sort of underutilized, primarily because
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the twenty rule. I we talking
with a lot of these teams, we
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find that many of the like the
eighty percent of their workload tends to be
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around simple request that are these repeatable
ones that should be being satisfied by an
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AI based algorithm. Right, I
mean, and so when we speak to
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those teams, tends to be more
so around the fact of like the you
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know, the the Ai Engines in
the opportunity that that unlocks is essentially to
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offload from the data science teams those
repeatable requests in a format that those can
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now be, you know, self
served based on request from the marketers,
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who can get their own, you
know, their own answers directly from the
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data, you know, through this
algorithm and through the machine learning algorithms that
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are being built. Meanwhile, those
data science teams can then be put to
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use against much, much harder,
nonrepeatable request type of work. Right.
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So I think it's sort of unlocking
and building efficiencies for that team. Is
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How we envision it. But for
us, I think there's, you know,
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the format for the marketers in the
power that we're starting to see a
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lock of markets. Certainly a big
focus for us to ourselves is that is,
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you know, this type of affinity
based insight becomes some of the most
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compelling that a marketer can use at
their fingertips. Right, those types of
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request around, like what's the difference
between the person who purchased this product from
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us last week versus those who purchase
this week? We are data show the
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change in pattern between those people who
have churned versus those who we've retained.
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Right, what are those affinities of
those two different groups that we can then
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leverage and often times to you know, for us it's those signals at the
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core that the marketer who has their
own hypothesis. It's not, you know,
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this isn't a boat sort of discovery, you know, from from raw
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datas as as, to your point, Logan. It's it's not about just
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throwing data and having it tell you
the answer. Most marketers already have a
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thesis, you know, and hypothesis
at the core in terms like what's going
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on, the means with which,
in the speed with which they can basically
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get insights and answers to those,
you know, that justify those hypothesis.
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Is What we see is the emerging
opportunity right so at your fingertips. If
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they can make simple requests or make
simple comparisons between, you know, people
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who clicked on this campaign versus those
who clicked on previous campaign, those types
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of things become then the signals where
optimization and, to your point, human
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intelligence can then get purely applied,
right and more effectively applied, and so
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we move away from simple guesswork and
static personas and sort of static surveyors too,
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subtlely, a far more dynamic enterprise. Where for us, and this
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is what we sort of think is
the most propelling part, is that your
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leverage in the creativity of the marketer, because they themselves have become data driven
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in this mechanism, right, and
I think that's where the future stal lies
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within the enterprise and within the sort
of format and formula of what you know,
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the Ai Promise actually has always been. Yeah, I love that.
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I am always kind of there's there's
truth in the middle, typically sort of
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guy, and it's like I picture
this pendulum of, like you said,
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going back to our old ways and
just like okay, we've got to rely
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on static data and like the promise
of Ai is just, you know,
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it's too far fetched. That's on
one end. The other is just believing
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that we can just dump data into
AI applications without any rhyme or reason and
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just get back all the answers like
a crystal ball. But what you're saying
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is, you know, somewhere in
the middle. If we tamper our expectations
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and we go into it with human
creativity, then we can take some steps
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forward, we can advance in the
way that we apply ai to the problems
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that we're trying to solve in marketing. I really like that and that's kind
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of the visual that I have in
my head as you were talking, tim
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as we wrap to day, Tim
is, there are there any other final
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thoughts action steps that you want to
share with listeners before we round out today's
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conversation? I think the you know, just enclosing, I think the opportunity
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ultimately is is leveraging the brilliance of
creativity of marketers at the core. That's
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what, you know, the power
of a marketing team is always been.
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I think the what we'll see emerge
is you'll sort of through Ai and through
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rich visualization, and it is sort
of just an enhancement to that creativity,
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and that's what I'm excited about.
I love it. Going back to that,
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you know, artificial intelligence and human
intelligence coming together, not just bluely
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AI is going to replace us,
let's just you know, become mindless moving
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cogs. I love that. Well, Tim this has been a great conversation.
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If anybody listening to this would like
to learn more about what you and
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your team are up to, or
just stay connected with you personally? What's
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the best way for them to take
next steps there? Yeah, certainly.
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You can reach me directly on my
email. It is tim at a Fineocom,
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or you can follow me on Linkedin
or twitter. It's t the number
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one MV rkae. So look forward
to connecting with people. I love it.
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Make it nice and easy, Tim. Thank you so much for joining
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00:20:10.950 --> 00:20:15.789
us on the show today. Great
thank you for the time. I hate
287
00:20:15.829 --> 00:20:21.069
it when podcasts incessantly ask their listeners
for reviews, but I get why they
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00:20:21.109 --> 00:20:23.980
do it, because reviews are enormously
helpful when you're trying to grow a podcast
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audience. So here's what we decided
to do. If you leave a review
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for me to be growth and apple
podcasts and email me a screenshot of the
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00:20:32.099 --> 00:20:36.450
review to James At sweetfish Mediacom,
I'll send you a signed copy of my
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new book, content based networking,
how to instantly connect with anyone you want
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to know. We get a review, you get a free book. We
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both win.