Virtual events have taken center stage since the pandemic outbreak hit our lives. Virtual events are becoming the new normal as time passes, and AI is no longer something that business owners, marketers, or event organizers can afford to neglect. There’s no doubting that artificial intelligence is proving to be one of the most valuable resources for producing high-quality, profitable events.
Artificial intelligence (AI) is most commonly associated with science fiction stories such as The Matrix and Inception. However, AI is merely a computer’s intelligence similar to that of a human. One of the fascinating characteristics of AI technology is its capacity to process massive volumes of data in seconds.
According to Grand View Research, the worldwide virtual events market was worth USD 77.98 billion in 2019 and is expected to increase at a CAGR of 23.2% between 2020 and 2027, reaching USD 404 billion. Artificial Intelligence will play a vital role in this development. AI plays a crucial part in making the entire process of virtual events smoother and more efficient, from matching, personalized recommendations, automated updates and notifications to pre and post-event data.
Here’s how some of the essential aspects of AI can help you design and run global virtual events:
Processing data for each event participant manually can take days, if not weeks, and is more prone to errors. In contrast, AI technology processes all information (name, interests, contact information, and a person’s business) with+ 100% accuracy in seconds. Event platforms can use this data to generate helpful event reports and insights.
An AI-enabled event platform, for example, can forecast the traction of an upcoming event based on data from pre-event activities and past events. These forecasts can assist the organizer in analyzing their marketing efforts, resource allocation, and overall event planning.
What do you think about identifying the right providers of a product or services you want to buy in a show with hundreds of thousands of booths? In formats like huge exhibitions and buyer-seller meetings, AI can help you out.
Event platforms that use AI to connect buyers and sellers can help participants connect with the relevant opportunities and people, allowing them to get the most out of their time at the event and achieve their goals quickly.
An AI-enabled virtual platform can enhance the overall event experience for attendees. If you want to go to a virtual event with a friend, it can send you an alert and guide you to localized areas.
It can record and remind you of important events in a virtual show that you don’t want to miss and transport your virtual avatar from an introduction hall to a sponsor booth or a networking lounge in seconds, ensuring that you don’t miss anything.
Voice has steadily broken through technological barriers, allowing interactions to become more straightforward, intuitive, and personal. According to studies, voice recognition devices are becoming more popular around the world. 32% of people use voice-activated search instead of typing regularly, and 43% use voice-activated devices to purchase online.
Voice technology is now a reality. We can alter not only voice technologies but also experiences with voice. The impact is immense when you add other technologies to the mix, such as augmented reality (AR), virtual reality (VR) technologies, and more.
There is a natural resistance to using technology to do tasks, which can be addressed with speech. Furthermore, it helps form connections, which is vital for any organization, and talks and voices play a critical role. It’s also about how firms may become acquainted with their customers to put them at ease.
This is one of the most common applications of AI in events. Face recognition technology has advanced significantly in the last decade, especially since Apple introduced Face ID.
Attendee experiences are streamlined when facial recognition is used. Event organizers can allow attendees to check-in using only their faces by using powerful AI technologies that instantly match the person’s face to their ticket and any additional information they may require.
This implies fewer hassles during check-ins and fewer misplaced tickets and other issues.
The competition among events is intense, and everyone is increasingly focused on attracting the most significant possible number of attendees to their events. It makes sense to follow what everyone else in today’s world is doing, which is to adapt to newer technology and, in this case, AI-backed events, to have a more significant impact on the decisions you make in driving your company to the next level.
The field of artificial intelligence is rapidly evolving and will certainly impact every aspect of our life, including how we attend events.
Thank you for reading, and whether you’re an organizer or an attendee, we hope you found this information helpful.
Do you need help with preparing and organizing virtual events? The Corporality Club is here to serve you. We make hosting online events easier with our AI-powered virtual event platform. Learn more by visiting our website at Corporality Club.