This post is part of our new Future of Marketing series which interviews the leading founders and executives who are on the front lines of the industry to get a better understanding of what problems the industry is facing, what trends are taking place, and what the future looks like.
The following is an interview we recently had with Parry Bedi, CEO and co-founder of GlimpzIt.
1. What’s the history of GlimpzIt? Where and how did you begin?
PB: My co-founder (Sami) and I met while getting our MBAs in Marketing from Wharton and later started GlimpzIt.
We became big fans of behavioral finance, and with that frame of mind, we quickly spotted the many limitations of employing purely quantitative or rational applications of data analysis technology. In the case of typical marketing analytics platforms, for instance, we found they largely answered the questions of who, what and when, but not why. We recognized that the key to success for any company in the future would be its ability to dig into the subjective and emotional realms of consumer behavior. This is the most promising part of AI technology actually. Modern forms of machine learning enable us to mimic the more creative capacities of the human mind.
2. What specific problem does GlimpzIt solve? How do you solve it?
PB: GlimpzIt is AI for content marketing. We analyze unstructured data (pictures, videos, and text) using machine learning to generate targeted marketing material for both paid and unpaid channels. For Example
– Hallmark uses us for creating design and copy of their e-cards.
– J&J uses us to create digital ads for Bengay.
– NBC uses us to create short form content for reality shows such as The Voice, The Biggest Loser and American Ninja Warrior.
3. What’s the future of marketing?
PB: Machines will be creating Creative content. Just within the last couple of years, Artificial Intelligence technologies have moved from the realm of science fiction to hard Science. However, still when people think about AI they think of it in the frame of Traditional computer science – only suited for performing narrow rational or quantitative tasks like blasting a general, broad message to your target audience. But the real value of AI is its ability to step into the qualitative or creative realm and perform tasks that we think of as uniquely human e.g. Gossiping or even – generating highly targeted content for your marketing efforts in the first place i.e. Creative AI. This rise of Creative AI holds a ton of promise for the future of marketing because we’ve only begun to scratch the surface of possibilities. At a base level, it will allow companies to understand customers on a deep human level, and with this understanding, companies can ultimately create better, simpler, more personal experiences for everyone.
4. Why is the marketing industry ripe for disruption?
PB: Content marketing has seen spectacular growth in the last few years and marketers are becoming very efficient in delivering content to their customers, thanks to the rise of a variety of technical and social platforms. However, this focus on delivery misses the biggest challenge faced by the industry – namely that consumers increasingly demand compelling and personalized content that speaks to them on a personal level. So far this type of micro-segmentation hasn’t been possible due to human and technical capacity constraints. As newer, especially AI technologies, advance further we will be able to deliver what each and every consumer requires – a true segment of 1.
About Parry Bedi
Parry is Cofounder and CEO of GlimpzIt. Being a big believer in behavioral economics, Parry cofounded GlimpzIt with the vision of enabling AI to realize its true potential – namely to move beyond quantitative or rational applications and into the qualitative or creative realm. Today GlimpzIt’s AI technology is able to draw out human level insights from unstructured data, enabling brands to build personalized offerings that resonate with their customers on a truly emotional level.
Parry has a Masters in CS from the Technical University of Denmark, an MBA from Wharton and previously worked at MSFT focusing in areas of Machine Learning and predictive modeling. Parry is also fluent in 4 human and 8 programming languages.