Brands need to be transparent about predictive AI platforms to regain consumer trust

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 22, 2019, 5:39 PM UTC

Predictive AI can help consumers get the best deals for products which have fluctuating prices.

This piece says that the increasing usage of predictive AI has given marketers a wealth of consumer data that can be used to personalise their products. But, brands will need to be more transparent about how predictive AI uses this data to retain consumer trust.

The author contends that as long as predictive AI is used for consumer’s benefit nobody will question the ethics behind it. But, if the technology is used to set different price points for different customers there will be consumer backlash.

A failure to use their consumer data responsibly will lead to a loss of consumer trust. Marketers should choose the ethical route to reassure customers that they are receiving “fair” treatment because of AI.

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