Maximizing Market Potential With AI

Welcome to this week’s Deep-fried Dive with Fry Guy! In these long-form articles, Fry Guy conducts an in-depth analysis of a cutting-edge AI development or developer. Today, Fry Guy dives into 180OPS, a company that uses AI to analyze customer data to help businesses understand their customers better and increase sales. We hope you enjoy!

*Notice: We do not gain any monetary compensation from the people and projects we feature in the Sunday Deep-fried Dives with Fry Guy. We explore these projects and developers solely for the purpose of revealing to you interesting and cutting-edge AI projects, developers, and uses.*

AI is ushering in a new wave of economic turns, with unexpected twists and brand new business practices. The future of the economy is difficult to predict at a time when AI is causing so much unexpected turbulence, but AI is also ushering in a new way of doing business. What if AI, the very entity causing such unexpected twists in the economy, can also help businesses maximize their growth?

By leveraging AI and data analysis, 180OPS works with a variety of companies to maximize their market penetration, granting never-seen-before opportunities for growth.

WHAT IS 180OPS?

180OPS is a data analysis company led by Toni Keskinen, the Chief Revenue Officer. With a background in advertising and marketing, Keskinen has spent over 25 years researching and analyzing customer behavior to uncover insights and create competitive advantages for companies. Along with publishing several books on market research and customer behavior, he has taken an innovative approach to data analysis by using AI to assess target markets and maximize revenue for companies through 180OPS.

In simple terms, the team at 180OPS specializes in analyzing data about customers and markets to answer four major questions for their clients: what to sell, who to sell to, when to sell, and why customers should choose them. By identifying patterns and understanding customer behavior in ways beyond mere human data analysis, 180OPS aims to provide valuable insights that can help businesses make informed decisions and drive growth.

IDENTIFYING UNTAPPED POTENTIAL

A major challenge for companies is maximizing the potential of their market. Often, the majority of customers only purchase one or two offerings, while a small number of customers adopt a wider range of products and generate the majority of revenue. 180OPS helps businesses identify these high-potential customers and opportunities for growth. Recognizing these types of patterns and market trends can help companies make informed marketing decisions. This information can then be used to develop strategies to increase sales and expand market reach.

OPTIMIZING SALES STRATEGIES

Beyond analyzing customer data, companies can use 180OPS to optimize their sales strategies. As Keskinen emphasizes, “By understanding customer behavior, companies can maximize their competitive advantages.” Many businesses may be unknowingly leaving money on the table by not approaching customers effectively or offering them the right variations of their products or services. 180OPS uses AI to figure out what current products and services are best for existing customers, which tend to attract new customers, and which could be refined for better profitability. This data-driven approach places managers and decision makers in a more clear position to make definitive and strategic decisions by providing them with data analysis they would not be able to get from current methods.

By leveraging AI to analyze a company’s sales data, 180OPS can identify areas for improvement and provide actionable recommendations. For example, they might suggest targeting specific customer segments, adjusting pricing strategies, or developing new related offerings to meet customer needs and desires. These insights can help businesses increase their sales and improve their overall performance. Keskinen explains, “We are trying to make data speak to them, enabling them to get clarity in their customer and market situation. This enables companies to operate and act in the best possible way.”

COMBINING AI WITH HUMAN EXPERTISE

It is clear that AI technology has the potential to automate many processes and tasks, and we have seen this across a variety of industries. However, human creativity and innovation should not be lost in this process. Rather, it should be embraced! 180OPS believes that combining human expertise with AI is the winning strategy for any company in any industry. By leveraging AI tools and machine learning, they can analyze large volumes of data and uncover valuable insights more efficiently than humans are able to, but that does not mean humans should be left behind. The team at 180OPS believes humans need to pick up where AI leaves off.

As of now, AI is great at analyzing data, but it is up to the human to interpret that data. In the future, 180OPS plans to incorporate a chatbot feature where users can chat with the AI-generated market reports, but for now the human touch is crucial in interpreting the data and making informed decisions. By incorporating the human touch, 180OPS also strategically places themselves in a position where AI will not make their functionality obsolete, embracing the superteam that is AI data analysis + human interpretation and implementation.

In a general sense, AI can provide recommendations and highlight patterns in the market, but it cannot replace the experience and intuition of human professionals. That “gut feeling” humans have will always be a crucial part of the decision making process. However, by combining the strengths of both AI and human expertise, businesses can make more informed decisions and achieve better outcomes.

AI’S IMPACT ON THE ECONOMY

As AI technology continues to rapidly advance, it’s potential to disrupt various industries will continue to be seen. There is little if any sector that has not been touched by AI already in some way. This includes advertising, healthcare, communication, news, customer service, legal services, and more. A FryAI poll suggested that most people think communication and education (23.6%) are the top two industries AI will have the biggest impact on in 2024. While this presents exciting opportunities for growth and innovation, it also raises concerns about job displacement and ethical considerations, one of the biggest worries amidst the massive growth of AI. Many don’t see job displacement as much of a concern, but rather foresee a job restructuring and upskilling amidst AI implementation. For example, call center employees might be less focused on dealing with mundane password changes and have more engaging work that requires human creativity and problem solving abilities, while AI takes care of the mundane tasks that do nothing but frustrate both employees and customers. In this way Keskinen thinks “AI will improve customers’ lives as well as employees’ lives.”

AI’s economic impact will not only be job-specific, but it will undoubtedly transform entire industries. Nobel Prize-winning economist Christopher Pissarides predicts this shift in the STEM (science, technology, engineering, and mathematics) industry, stating last week that STEM workers are “sowing their own seeds of self-destruction,” encouraging students who are interested in IT to pursue jobs in hospitality and healthcare. This aligns with many predictions that AI will soon reshape the economy in such a way that industries which require a human touch will grow and those that can be automated will be dramatically reshaped. This can be likened to how the internet reshaped the way we conduct work and practices, which can be scary in its time, but if used wisely and productively, can be a massive tool for industry growth and, dare I say, job creation.

The 180OPS team recognizes the power of AI and its potential to improve profitability and productivity for companies. However, they also emphasize the need for careful regulation and ethical use of AI technology. As AI becomes more integrated into our daily lives and business operations, it is crucial to strike a balance between harnessing its potential and addressing the social and economic impacts it may bring. As Keskinen states, because of AI, the way companies function and the way people are working “is going to permanently change.”

EMBRACING AI GOING FORWARD

With their expertise in data analysis and customer behavior, 180OPS offers valuable insights to businesses looking to optimize their sales strategies and drive growth. By embracing the dynamic combination of AI analysis and human expertise, they help companies uncover untapped potential within their customer base and make more informed decisions. This comes at a crucial time where AI’s economic impact is inevitable but the influence is unknown.

As AI technology continues to evolve, it is important for businesses to adapt and embrace its potential while also addressing the challenges and ethical considerations it brings. Every business in every industry needs to understand how AI is shaping the industry; for if you are not leveraging AI, it is probably leveraging you! However, with the support of companies like 180OPS, businesses can navigate this evolving landscape and use AI to their advantage.

WANT TO SEE THE FULL INTERVIEW?

Check out our full interview with Toni Keskinen, the Chief Revenue Officer of 180OPS, where we discuss the inter-workings of AI in marketing and its influence on the economy.