Today we hear from tech-optimist, resident marketing expert, and CEO of Speqta, Fredrik Lindros, on the subject of AI and how it will affect our progression as a community in the next years to come.
How would you describe yourself as a businessman?
Fredrik Lindros: When it comes to my work, I am always thirsty for creation and innovation. I believe that to be successful, one must always be ready to explore their potential and the potential of others. This includes both the potential of the people that I work with, and the potential of our customers.
So, even if it means jumping into projects with the fear of failure… I aspire to be the kind of businessman who is always ready to jump into the fray when it comes to what I believe in.
What core values do you hold especially in high regard whilst working with the rest of the Speqta team?
Fredrik Lindros: As a company, we seek joint incentives with our customers and, of course, overall success by making full use of modern technology like Artificial Intelligence (AI) and making sure that we are always aligned with what our customers are looking for.
I’m also a firm believer in open communication. To the point that I can unashamedly say that a significant portion of Bidbrain’s™ conception was spent talking to key clients who were willing to work with us on its development.
What exactly is Bidbrain? How can it be used for generating new business?
Fredrik Lindros: Bidbrain™ is our latest product release. At its core, it was designed to help e-retailers bid smarter and generate new business through Google Shopping Ads. It was developed specifically for the global market at large — for customers working both locally and globally as well. And, it addresses the rather sharp trajectory upwards in popularity that Google Shopping has seen over the last couple of years.
Google Shopping now comprises 65% of all clicks on Google Search Ads, after all. So, there’s no denying that the practice of bidding on Product List Ads (PLAs) has become more of a necessity when it comes to competing, and winning, in the crowded and ruthless online marketplace.
What do you hope to achieve with the release of Bidbrain?
Fredrik Lindros: Of course, we hope that Bidbrain will be recognized as a powerful tool for online retailers. But, more than that, we also hope to open the eyes of others to what can be done with modern technology. After all, Bidbrain is proof that what had previously been done solely via unreliable human hypotheses, experiments, and testing, can now be performed nearly instantaneously and effortlessly by our AI’s algorithms.
To that end, how much better is Bidbrain compared to human calculations?
Fredrik Lindros: The thing is, that, I cannot personally quantify off the top of my head. But, how much would you bet that there is technology out there capable of finding out exactly how much? That’s the thing. When comparing the algorithmic abilities of a human to a well-developed AI, there’s simply no contest. It is for this very reason that so many people are so afraid of losing their jobs to machines and robots. They know that, if programmed correctly, a machine can perform its job more efficiently and expertly than they can themselves.
Of course, that’s not to say that we’ll be left out of things completely. It just means that we can reserve our personal efforts to more complex and greater activities that no AI would be able to perform without our natural human capacity for creativity, strategic thinking, empathy, and compassion.
In all? Using Bidbrain instead of slaving yourself for hours of every day and of every week over calculations will ensure that you can focus on other matters while the AI works its hardest to make sure that you are staying on top of your competition.
What other reasons would customers not want to use your service? And, what explanation would you give to persuade them to do otherwise?
Fredrik Lindros: As a new product, I can’t imagine that we’ll be able to draw all customers away from other available alternatives. Whether it be Google’s own automated bidding tools or other third-party alternatives like Acquisio, Bidding Lab, or Optmyzr. At least, not immediately.
But, we hope that our product will speak for itself. In terms of usability, it’s already better than Google’s own tools, after all. As it operates with 100% transparency inside the customers Google Ads account, places bids that prioritize more conversions than clicks, and it was designed with testing and providing insights in mind. Making it a highly sophisticated and reliable tool.