Resources and Other Helpful Digital Marketing Content To Guide You On Your Digital Journey!

Here at WSI, we believe it is important to share our ideas and success stories to help make YOU smarter. We think our Blog is a great way to get started, as well as guide you to your own success.

Recap of MAICON 2024: Why AI is Now a Must-Have in Banking and Marketing

Digital Marketing

Recap of MAICON 2024: Why AI is Now a Must-Have in Banking and Marketing

Eric Cook by Eric Cook

Chief Digital Strategist

Contact author Full biography

Full biography

Eric considers himself a “recovering banker” of 15 years, who for the past eleven years has focused his efforts as a digital strategist, helping his clients (mostly community banks) better understand and leverage the power of the Internet as a strategic business tool. An award-winning web designer with WSI, the world’s largest digital agency network, Eric is a two-time contributing author to the best-selling book Digital Minds – 12 Things Every Business Needs to Know About Digital Marketing. Consistently rated in the top five digital marketing books on Amazon, the book is in its second edition and available in three languages.

A sought-after, nationally-recognized speaker in the financial services industry, Eric is a member of the National Speakers Association and loves sharing his knowledge to help educate and inspire others. He is the co-creator of a weekly webinar show called Free Webinar Wednesdays, founder of the Banker Education Series webinar series, and serves as a faculty member at several banking schools around the country where he teaches bankers about digital strategy, online marketing and social media. He is a WSI Certified LinkedIn Professional and holds undergraduate degrees in business administration and psychology. While working full-time as a community banker, Eric earned his MBA and completed the three-year Graduate School of Banking program in Madison, WI in 2003.

Professionally, Eric helps his clients in all areas of digital marketing, which includes mobile-responsive web development, search engine marketing and optimization, social media strategies, e-mail communication, and “big-picture” digital strategic planning. He’s the co-founder of DigitalRCP.com, a service created to help businesses understand their risk when it comes to operating in today’s digital world. When he’s not helping his clients succeed online, he can typically be found on one of his many bicycles training for his next mountain bike/triathlon race or spending time with his wife and two (very spoiled) golden retrievers.

x

Summary:

Last week, I had the privilege of attending the Marketing AI Conference (MAICON) in Cleveland, OH, and was blown away. Hosted by the Marketing AI Institute, this event was the fifth MAICON and was packed with some of the brightest minds in AI and marketing. My goal for attending the event was simple: to learn how AI is evolving and how it can benefit community banks, and man, did I come away with more than I expected.

Loading the Elevenlabs Text to Speech AudioNative Player...

Please enjoy this narrated version of our recent article read by "AI" for your listening pleasure. And, if you'd like to explore AI strategies like this, get in touch or check out our AI Resources page!

I was joined by a few other colleagues from the WSI network, so we tried to “divide and conquer” with close to 70 sessions available to choose from. I got to connect with incredible professionals and colleagues from around the world, some of who weren’t even presenting - but attending like I was, yet were also doing amazing things with AI. 

The networking was top-notch, and I came away with not just new ideas for community banks, but new relationships that will shape how we think about AI’s role in the banking industry going forward. Let me share a few key themes that resonated with me and how I see them impacting the future of community banks and marketing.

Image Caption: Hamming it up with the MAII's Chief Content Officer, Mike Kaput, along with fellow WSI'ers Riley Butcher and Robert Mitchell. My colleague out of Oklahoma, Gunnar Hood, was off networking when the photo was taken, but he rounded out our foursome. 

AI: A Strategic Business Tool

The first half day was a workshop session led by MAII’s CEO, Paul Roetzer. He emphasized that AI should be seen as a strategic tool for business—not just as a “cool” technology. This is something community banks should absolutely be paying attention to. Roetzer challenged us to focus on finding 2-4 high-value AI projects to implement within the next 12 months. For banks, this could be automating customer service tasks, optimizing fraud detection, or even refining customer insights using AI-driven data analysis.

A critical part of this process is making sure that our teams are educated and comfortable with AI. Building AI literacy across your organization is essential if you want to prioritize projects that deliver real business value. For those of us serving community banks, this is a clear takeaway: get educated, get specific, and get started!

AGI and the Road Ahead

Roetzer also dove into Artificial General Intelligence (AGI), which sounds like something out of a sci-fi movie but is very real (and closer than we think). This session opened my eyes to the future of AI beyond the language models we’re familiar with today. He talked about how AI is evolving into multi-modal systems that can interact across different platforms—think beyond chatbots and into voice assistants and even humanoid robots.

For community banks, this could mean a future where AI agents handle complex customer interactions or even assist with financial advice. The potential is mind-blowing, but the message was clear: we’re not replacing human talent - we’re augmenting it. AI’s role is to unlock human potential, not diminish it.

Personalization at Scale: The Death of Segmentation?

One of the most interesting—and perhaps controversial—sessions was by Shawn Goodin, who argued that traditional customer segmentation is on its way out. Instead, AI allows for near-infinite personalization. Imagine being able to engage each customer in real-time with hyper-personalized messages that perfectly align with their needs and preferences. In the banking world, this could revolutionize how we manage relationships with customers, from personalized financial advice to tailored marketing offers.

His framework of identify, engage, and measure really hit home for me. It’s time we rethink our approach to customer segmentation and embrace AI-driven personalization at scale.

Custom Language Models (CLMs) for Specialized Needs

Yash Gad’s session was one of those “a-ha” moments. He talked about the importance of Custom Language Models (CLMs) for industries like banking, where security and customization are paramount. Unlike the large language models we’re used to, CLMs are purpose-built for specific industries, making them ideal for tasks involving sensitive data.

For our agency, this is a huge opportunity to help banks leverage AI without compromising on security. It’s about tailoring AI to meet the specific needs of community banks, from search and synthesis to content creation, while ensuring that security remains rock solid.

Practical AI Tools and Automation

On the practical side, Keith Moehring’s session on automating tasks with tools like Integromat and Make was a big eye-opener. Automating routine processes—like creating case studies or following up with leads—is not only a time-saver but also a way to keep the human touch where it matters most.

Mike Kaput’s “30 AI Tools in 30 Minutes” session was a whirlwind of inspiration. Tools like Descript for video editing and Perplexity for research are incredibly useful for agencies like ours, and for banks looking to streamline content creation, these tools could be a game-changer. I left the session with a laundry list of tools that I’m excited to explore further with our team.

AI Ethics and Copyright: Stay Cautious

One of the more sobering parts of the conference was a panel on AI ethics and copyright. With AI-generated content becoming more prevalent, the legal landscape is still catching up. Current copyright laws don’t protect AI-generated content, and this creates a murky area for banks and businesses using AI to create marketing materials or customer-facing content.

This is a big deal for us. We need to ensure our vendor agreements and internal policies are watertight when it comes to intellectual property. It’s a reminder to stay diligent and ensure we’re not creating content that could lead to legal issues down the road.

Immediate Actions for Community Banks and Agencies

As I reflect on my time at MAICON, it’s clear that AI is no longer a futuristic concept—it’s here, and it’s changing the game in real-time. For community banks and digital agencies like ours, here are some immediate actions I’m taking based on what I learned:

  • Explore CustomGPTs: I’m diving into how we can use CustomGPTs to better serve our WSI customers, as well as members of The LinkedBanker community, our mentoring and mastermind ecosystem for bankers. These AI-driven tools have the potential to offer hyper-personalized experiences for our clients.
  • Implement Automation: We’re going to explore how tools like Make.com and Zapier can streamline some of our workflows, especially in content creation and SEO optimization.
  • Enhance Data Security Policies: With AI’s growing role, we’ll be revisiting our data security and copyright policies to ensure we’re covered legally and ethically.
  • Leverage AI for Video and Content Creation: Tools like Descript are already on my radar for upping our video and content game. It’s all about efficiency without losing the human touch.

Overall, I’d have to say my first MAICON was everything I hoped for (and more). AI is not just another buzzword; it’s a powerful force shaping the future of both marketing and business strategy. I’m excited to continue this journey and see how we can apply these insights to better serve our clients in the banking industry.

Need help? Let’s talk…

If you’re interested in talking further and exploring how AI can make an impact at your bank, get in touch. I’d love to hear what you’re thinking and answer any questions you may have. We’ve developed an approach that I’d love to share with you and explore how it could fit into your future plans. 

Print
210

Contact author

x
scroll top