GIVES A GLIMPSE INTO THE NEAR FUTURE ‘When Machines Become Customers’
Artificial intelligence (AI) is everywhere, and it’s not going away any time soon. And while no one can stop how soon it will enter the customer market, you can prepare for it. In the new book “When Machines Become Customers” by Mark Raskino and Don Scheibenreif, the inevitability of AI shoppers becomes apparent, but what does this actually look like? Raskino and Scheibenreif describe AI-enabled customers as technology that shops for us and will overtake the decision-making process when purchasing products or services.
In this surprising book, the writers describe three phases regarding the evolution of machine customers. Currently, we’re at “base zero,” where tech can inform us when an inventory of a specific product is low. We can see early-AI customers in companies like Amazon, where Alexa can purchase an item or its Dash Smart Shelf can sense when an item needs to be replenished and reorders for you. So, what are phases one, two, and three? Phase one involves machines being able to purchase items for a customer, but only from a single manufacturer or product type. Some examples are printers that reorder ink when it senses levels are low or coffee machines that purchase more pods when stock runs out. Phase two expands when smart assistants become widespread and can make knowledgeable purchasing decisions. The machine’s intelligence has increased, and it will be able to shop for various products from a range of companies. Suddenly the work of
choosing what products to buy is being moved from the customer to the machine. Machines will decide what items to purchase based on factual information alone, such as best value and healthier ingredients. Finally, phase three involves the machine customer becoming completely autonomous. The AI customer can predict the need for an item, replenish with the best product available, and complete the purchase with zero human interference. This new feature can benefit small-business owners by taking over the time-consuming task of calculating inventory, identifying customer preferences, and purchasing stock. While this may seem like a distant reality, it’s closer than you think. This shift in customer demographics requires an all-new approach to marketing and operations that you should be ready to tackle. Read more about how your business can better prepare for machine customers in this outstanding book.
ALWAYS Ask This Question Before Investing
THE ANSWER SHOULD MAKE YOUR DECISION FOR YOU!
When you’re considering investing with an individual, company, etc., you need to ask the right questions. Above all, you need to ask what I call simply “The Question.” It’s a big one!
“Have you ever lost money in any of the investments you have been involved in?”
If their answer is “NO,” then you need to run away from this investment (or the person working on the investment) as fast as you can. A “NO” answer tells you one of two things:
money, and a few lost more money than I would care to admit. So, my answer to The Question is an absolute “YES.” And that’s the answer you want to hear.
1. They are lying — simple as that. 2. They do not have enough experience.
When you begin a relationship with someone, especially an investment relationship, everything needs to be transparent. If your partner won’t give you the facts, they’re wasting your time, and that spells trouble with a capital T. So, make sure you ask me and any other investor you’re considering working with The Question. I am always happy to personally discuss our exciting investment projects — and even talk about the stinkers. Just call or send an email.
Anyone who invests in real estate as their primary business has had investment losses because not EVERY investment works out. It’s impossible for every investment to work out. Even investors considered the best at what they do know this to be the case. They’ve all lost money on something. The best way to have a great (but not perfect) track record is to learn from the bad experiences so you don’t repeat them. Plus, a lot of money can be made from lessons learned.
Providing great investments with great transparency, even in this economy ...
–Darin
A very high percentage of my real estate property investments have worked out extremely well, but I admit I’ve had some stinkers! Some of those stinkers lost
2 DARINGARMAN.COM
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