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Machine Customers—AI Buyers To Control $30 Trillion In Purchases By 2030
In a matter of years, the landscape of commerce is set to undergo a radical transformation. According to Gartner research, CEOs and senior business executives expect machine customers – AI-powered buyers – to generate at least 21% of their revenue by 2030. This staggering figure translates to $30 trillion worth of purchases, with digital revenue fees from machine-customer-based brokerage services exceeding $100 million by 2026.
The concept of “machine customers” refers specifically to IoT devices and other connected gadgets that can autonomously purchase goods, negotiate transactions, and influence commercial decisions. It’s a phenomenon that is set to have a profound impact on the global economy.
Gartner analysts predict that nine billion internet-connected B2B products will be capable of becoming machine customers by 2028 alone. This explosive growth has significant implications for businesses worldwide, as they must adapt to accommodate these autonomous decision-makers.
Not surprisingly, CEOs are already recognizing the gravity of this situation and are scrambling to develop strategies to tap into this lucrative market. In fact, a staggering 50% or more of respondents in a recent Gartner study indicated that they plan to have a strategy in place within the next two years to accommodate machine customers.
However, it’s not all sunshine and rainbows for businesses. Most companies are woefully unprepared to cater to this new breed of customer. According to Don Scheibenreif, a renowned AI expert, traditional marketing tactics will be completely ineffective when trying to sell to these machines. Gone are the days of emotional appeals and targeted advertisements; instead, machine customers will care about factors such as product availability, pricing, environmental record, and diversity, equity, and inclusion (DEI) standards.
In order to thrive in this new landscape, businesses must rethink their entire approach to marketing and sales. Sirte Pihlaja, a leading expert on customer experience, agrees, emphasizing the need for marketers to rewrite content with machine customers in mind. She warns that companies will struggle to adapt to AI-driven agents unless they can optimize their web pages for these new types of browser agents.
While some may be hesitant to dive head-first into this uncharted territory, it’s essential to remember that automated AI buyers are here to stay. The onus is on businesses to prepare now by prioritizing convenience and redesigning customer journeys to accommodate both human and AI decision-makers.
As we approach the midpoint of the decade, it’s clear that machine customers will play a critical role in shaping the future of commerce. Will your business be ready to seize this opportunity?
Source: http://www.forbes.com
