How Businesses Are Using AI and Machine Learning to Leverage Events

Feb 8, 2018 | 2025 Views

In this ever-changing digitalized world, professionals of every discipline and industries have started using data-driven decision-making and thus it is convenient for them to carry out their day-to-day operations. Therefore, many marketers have started focusing to artificial intelligence to improve the effectiveness and efficiency in their monthly sales.

Traditionally, while using the digital media, there were more use of manual search options and gathering of information was done via word-of-mouth and online. And, that is actually delivered through algorithm. So, nowadays, buyers purchase behavior has been transformed due to the immense amount of data available and the ever-changing technologies to gain maximum results. 

AI is a major feature used by businesses today as it smoothens out the complex tasks and detailed activities. "Businesses are looking at AI to help gain a better understanding of their customers and personalize the experience they deliver," said John Bruno, analyst of e-business and channel strategy at Forrester. This shows how important is development of artificial intelligence to an organization. 
As increased quality in operations and customization for each customer is the prime goal for any businesses today, so businesses should be able to innovate themselves such that it could promise the execution of complex operations to cater the everchanging needs of customers. Leveraging a machine learning algorithm, planners could better estimate how many attendees will come along and assemble, or anticipate how many supplies or products each attendee will need.

AI is a platform for growth by many businesses. Events management is also a developing application of Artificial Intelligence and machine learning, however, there are some firms who provide software and consulting to organizations looking to employ it. Cvent, founded in 1999 by Reggie Aggarwal and headquartered in Tysons Corner, Va., is a cloud-based events management software platform that is well-known, and, along with general events management, provides specialized solutions for the hospitality industry. The firm acquired CrowdCompass, which pioneered building events management software native to mobile, in 2012.  

DoubleDutch, headquartered in San Francisio's Mission District, and founded in 2011 is another live engagement tech company which specializes in leveraging AI and machine learning for enhancing large events and conferences. Lawrence Coburn, DoubleDutch's CEO, calls what they offer "assisted serendipity"-creating and maintaining software that facilitates in-person meetings, making it easier for event producers and attendees to mix and achieve their desired outcomes and goals.

DoubleDutch produces an app where event attendees can message each other and are assigned a Klout-like score of influence (on average, about 183 data points are collected from each attendee of a two-day event). The facilitators can create and get the results of a research poll fast enough to take actions during an event-in-progress. 

The CEO, Coburn mentions, "Marketers who have multi-channel responsibility are our most natural audience". He believes there could be a better grasp of the full potential of data at all organizational levels with large sales and marketing functions. Further, he also explains that there's a language barrier and how tech companies talk to marketers about what it can do for them is often to blame. It means that the full potential of data is mostly unlocked. 

The firm is known for its involvement with organizations and movements for social justice. It created its official app of January 2017's Women's March on Washington, which had more than 115,000 users and helped the event's producers move the crowds along the march's paths. It allowed activists to message with each other and organize actions and meeting spots.

"We created a historical record of that event," said Coburn, who mentioned feeling proud while wading through photos of the event in the app with his seven-year-old daughter.

Source: HOB