More Than Efficiency, AI is Redefining Business
A view into the changes being experienced across industries
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You already know that AI is changing business, but if you’re not looking closely, you might not realize just how profound the impact actually is. From automating routine tasks to powering personalized experiences, AI’s impact is broad, often invisible, and extends far beyond the obvious. Sure, you recognize AI when you engage with a chatbot or speak to a simulated voice in a call center. But these examples are just the tip of the iceberg.
In this article, we'll explore a few interesting case studies from across industries to show the value AI is creating, even when it's not immediately obvious.
Retail: An Agentic Revolution in Customer Service and Product Management
At Salesforce's recent Dreamforce event they launched their latest product Agentforce, and in doing so shared a from Saks Fifth Avenue that provided a level of personalization to the shopping experiences, along with a contextual understanding of inventory and supply chain that is sure to delight people and deliver significant business efficiency.
The video above is a cut from the Keynote talk at Salesforce’s most recent Dreamforce conference. I’ve edited it so you can watch only the relevant section, but for those of you who want to see the whole thing, here is the link. And for those of you who don't have the patience to watch, the video show how AI agents will support people not just in answering questions, but in providing a service level that would traditionally take multiple humans and potentially multiple phones call to achieve.
The video shows a working demo where a person calls customer service and is connected with an AI Agent. The person shares a complaint in that their recent purchase is too small and they need a bigger size. The AI agent doesn't just offer them return and exchange information, but it does so much more. When the human says that the shipping time would be take too long and that they need a bigger size ASAP so they can wear it to the event, the Agent searches the inventory or local stores, finds the rights and has the store set it aside so they can pick it up in person and get the product on time.
This shows an ability to connect provide customer support, to connect with inventory systems, to message individual stores. It's a job that requires thinking outside the box to solve a customer problem and would typically require a person who can look at multiple systems simultaneously to solve. AgentForce is making this possible by coordinating specialized agents to deliver on complex retail tasks.
In summary, retail is set for a third (r)evolution.
CPG: Transforming Content Supply Chains and Reinventing Consumer Connections
Consumer Packaged Goods (CPG) companies are traditionally some of the largest advertising spenders, so it's no surprise to see them racing to adopt AI as they reinvent their production and content supply chains to drive fuel efficiencies in content creation, localization, personalization, and innovation in customer experience.
We've all read plenty about the efficiencies in content creation, but less has been said about how AI is changing customer experience.
Unlike the dawn of social media, where brands raced to become "friends" with consumers - but still delivered little to no value through that "friendship" other than gaining some improved media targeting, AI promises to help CPG brands reinvent the relationship they have with people in more substantive ways, for example by allowing dynamic personalization and responsiveness at a one-to-one level that had never previously been possible.
One notable example is the Cadbury Dairy Milk Valentine's Day campaign in India. Cadbury used generative AI to create a personalized video ad experience where customers could create customized messages for their loved ones. By simply providing a name and some preferences, the AI would generate a unique video, incorporating regional elements and delivering a highly personalized experience that resonated on a deeper level with audiences. This campaign saw a significant boost in engagement, demonstrating how AI-driven personalization can enhance emotional connections between brands and consumers.
Financial Services: Fraud Detection and Personalized Banking
The financial industry has been quick to adopt AI to boost efficiency, improve customer experiences, and prevent fraud. Traditional fraud detection methods were manual and reactive, but AI has enabled the shift to proactive security measures by analyzing patterns in real-time and alerting institutions about potential breaches.
JPMorgan Chase for example pioneered the use of GenAI for contract analysis and customer communication. They developed COiN (Contract Intelligence) that uses generative AI to analyze legal documents and extract critical data points in seconds. This technology saves thousands of hours previously spent on manual reviews, improving accuracy and freeing up employees to focus on more complex tasks. Additionally, the bank uses generative AI to create personalized marketing content for customers, tailoring communication to better resonate with individual clients' needs and preferences.
A case worth highlighting is Bank of America’s AI-powered virtual assistant ERICA. It enhances personalized banking by analyzing customer data, predicting financial behavior, and offering tailored recommendations. AI chatbots are saving time for both customers and financial institutions, though there’s still room for growth in trust and reliability.
However, AI in finance also brings concerns around algorithmic bias. Models trained on historical data may perpetuate biases, impacting lending fairness. Fortunately, awareness of this issue is driving financial institutions to conduct regular AI audits to ensure fairness and mitigate bias.
Healthcare: From Diagnosis to Personalized Treatment
AI's promise in healthcare is profound—you’ve likely seen headlines showcasing AI’s potential in improving diagnostics. AI-powered tools can now identify diseases like cancer and heart conditions earlier than traditional methods. For instance, CHIEF (Clinical Histopathology Imaging Evaluation Foundation), which was trained on millions of medical images, has achieved nearly 94% accuracy in detecting 11 types of cancer. Machine learning algorithms can analyze medical images and genetic data at a scale far surpassing human ability, leading to more accurate diagnoses and personalized treatment plans.
One of AI’s most exciting promises is precision medicine—tailoring treatments to individual patients based on their genetic profiles and medical histories. This shift, from a mass-treatment model to an individualized approach, could reduce side effects and improve patient outcomes significantly.
AI also helps tackle a less visible but equally significant issue in healthcare—administrative costs. Administrative fees account for nearly 25% of healthcare spending in the United States. Complex billing, insurance claims, and workflow inefficiencies contribute to these costs. AI-driven automation can alleviate this burden by handling routine administrative tasks like processing claims, managing appointments, and billing. This not only reduces costs but also allows healthcare providers to allocate more resources to direct patient care.
Automat is one company leading this change. Leveraging OpenAI’s Vision AI capabilities, Automat creates robotic process automation for healthcare administrative tasks. By automating the repetitive actions performed by humans on digital interfaces—with precision—Automat can significantly streamline operations.
Conclusion
AI is fundamentally reshaping industries across the board—healthcare, finance, retail, CPG, and many other are evolving in ways that are deeper and more transformative than we often realize. It's not just about making things faster or more efficient; it's about rewriting the rules of engagement and rethinking the very nature of customer relationships. AI is bringing personalization, proactive service, and deeper insights that are unlocking possibilities previously out of reach.
To get ahead in this new era, businesses need to focus on three key actions:
Embrace Personalization at Scale: Use AI to craft individualized experiences that resonate with customers on a personal level. Whether through personalized video campaigns like Cadbury or through AI-driven digital concierge services like Gucci, the brands that understand their customers deeply will thrive.
Be Proactive, Not Reactive: AI allows companies to move from reactive customer service to proactive problem-solving. Look at TELUS or Vodafone—using AI to predict needs and address issues before they become customer pain points sets the standard for service excellence.
Leverage AI Responsibly: With great power comes great responsibility. Addressing concerns around data privacy and bias is not optional—it is a necessity. Conduct regular AI audits, ensure transparency in AI decisions, and strive for fairness to maintain customer trust and loyalty.
The businesses that seize these opportunities and innovate responsibly will not only succeed but redefine what business looks like. After all, AI is not just transforming business operations; it is creating entirely new opportunities to connect, engage, and grow in ways that fit with your audience not just as segments, but as individuals.
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