Ally's AI Experiment Streamlines Marketing Tasks

Article Brief:

Ally Financial said that a proprietary large language model (LLM) helped make its marketing operations more efficient in a monthlong test, per details shared with Our Website.

The introduction of Ally.ai's chat solution in June resulted in an average time savings of 34% on marketing tasks in comparison to manual completion without AI. According to Ally's estimates, this notable increase in productivity could save nearly 3,000 working hours on an annual basis. During the pilot phase, the LLM system successfully generated accurate responses 81% of the time, with a sample of 80 prompts demonstrating an impressive usefulness rate of 87%. As the adoption of generative AI grows, Ally plans to further explore and experiment with this technology throughout 2024.

Article Insight:

Ally is exemplifying how generative AI is not just a buzzword, but a technology that is making a tangible impact on marketing functions. In line with this, the company has developed an LLM, which serves as a highly advanced chat interface similar to OpenAI's ChatGPT. This innovative tool has the capability to seamlessly switch between providing prompts to guide the creative process and addressing user queries.

Ally is focusing on internally developing the feature using its own data and cloud-computing infrastructure. This approach, according to executives, will allow the tool to be scaled enterprise-wide and enable better risk monitoring. Investing in proprietary technology is particularly important in sectors like banking and finance, where the privacy of consumers' sensitive personal information is a concern.

Currently, Ally.ai is most beneficial in the early stages of marketing strategies. As an illustration of Ally.ai's functionality, a podcast transcript featuring an Ally executive was input into the LLM to generate a concise article for the bank's blog. The software specifically identified the most informative and entertaining segments of the discussion for consumers. Although a first draft was generated within 15 minutes, it required careful editing and human review. Overall, the AI's assistance reduced the time spent on the task from four hours to one hour, as reported by Ally.

Ally.ai is seen as an assistant that can aid our teammates in achieving faster and more intelligent project delivery, ultimately enhancing the customer experience. Our content writers have successfully utilized carefully crafted prompts to kickstart the creative process and expand the distribution of content across various channels. By reducing publishing time and allowing our creative team to excel, we greatly value these advantages in our fast-paced and competitive environment.

Ally has also identified additional applications for Ally.ai, which include generating initial drafts of advertising copy, video scripts, and social media posts, as well as enhancing search engine optimization, quality control, and data analysis. The company is currently assessing the possibility of implementing Ally.ai in over 100 different areas, although not all of them may prove viable. Previously, Ally.ai was tested by the customer service department to summarize calls and streamline workflows.

The bank recognizes the LLM program as a valuable opportunity for its marketers to gain knowledge in the rapidly growing tech field, which is expected to be highly significant in 2024. Ally has organized AI Days, half-day sessions where employees can delve into the technology and exchange their discoveries.

A recent benchmark survey by The Conference Board reveals that an impressive 87% of marketing and communications professionals are actively exploring the applications of AI, particularly in summarizing content and fostering creative ideation.