With artificial intelligence driving the development of products and services across industries, many large firms are now turning to technology to sell those products, too.
According to The Wall Street Journal, Mastercard is currently testing AI tools that craft the most effective message, visuals and layout for marketing materials. JPMorgan Chase, meanwhile, announced on July 30 a five-year partnership with New York City-based Persado to use AI to improve the bank's marketing efforts.
In trials that applied Persado's machine learning tools to JPMorgan Chase's credit card and mortgage pitches, the AI not only made tweaks that human marketers would have, but also suggested less obvious, algorithm-driven changes, WSJ reports.
"They made a couple of changes that made sense and I was like, 'Why were we so dumb that we didn't figure that out?'" Kristin Lemkau, chief marketing officer at JPMorgan Chase, told the outlet. "And some of them weren't intuitive — like they added words to one of the headlines, where a marketer would have thought you should take it out and add more white space."
In consumer tests, the AI-generated materials performed significantly better than those developed by humans. Still, Persado CEO Alex Vratskides told WSJ, that does not mean the digital tool should fully replace human copywriters: "This is something that is very, very complicated, and the human and the machine need to work together," he said.
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