Tumi CDO: Buy AI that beats humans
When evaluating how AI can help a business, execs should figure out when computers can beat humans, according to Charlie Cole, the chief digital officer at Tumi. “If you think about the nexus of how you can pragmatically use artificial intelligence in a practical way, you have to ask yourself the question: what can a computer compute way the hell faster than you can, at a one-to-one basis?” he said. In Tumi’s case, AI allows it to personalize its experience for each customer. The company is working with AgilOne, a software provider that can predict when customers are most likely to buy a product on an individual basis. Using AgilOne’s software, Tumi can predict when its customers are likely to buy its bags and luggage. “What artificial intelligence allowed us to do is create an individual algorithm to every single one of you,” Cole said. That information can help Tumi better target promotions to users who are most likely to use them, which is important in the current ecosystem of highly targeted marketing and broad choice among where and what consumers buy. One of the other key things that companies need to learn is that the quality and organization of…
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