Consumers: tech-savvy, always-connected, skeptical, and demanding. The machine intelligence behind nonhuman intermediaries- mobile apps, wearables, smart speakers and other AI-powered systems- is expanding these consumers' intelligence quotient by giving them more ways to access information and explore more choices, making them more powerful than ever. This new human-algorithm alliance has turned the business-to-consumer dynamic on its head, challenging brands to connect more intelligently and hyper-personally with customers.
Trying to influence humans alone won't be enough in the future; brands will also need to influence algorithms. Every industry and business will need to become 'B2HM' - Business to Human and Machine - and the most successful brands will be the ones who earn a trusted reputation with both customers and their AI assistants.
So how can companies become B2HM? They will need to go the extra mile in overhauling their digital infrastructure, go-to-consumer strategies, and customer experience goals. In short, they will have to adopt a three-pronged ‘Reimagine, Rebuild, and Rethink" approach:
The human-machine alliance will have a profound impact on how traditional business models will evolve, presenting both opportunities and risks to companies. Intelligent machines are playing an increasingly important role by augmenting humans with the information they need, influencing their decisions, and ultimately helping them become more efficient. Your brand can't sit on the sidelines. But don't worry- you don't need to try to become Amazon or Google. The key to success is to reimagine your brand in the age of algorithms. Check that your brand features on Amazon, with a Google ranking, for example. Becoming B2HM is your golden opportunity to move ahead. In a fast-moving, interconnected world, brands that flow with consumers' lives are valued the most, and brands that flow with consumers' needs will be the most successful. So go with the flow! Go B2HM!