Insights on MarTech, Marketing, Data and AI | LuminateCX

Digital Head, Analogue Heart: How Quantum Tech Can Benefit Brands

Written by Dan Shaw | Aug 22, 2024 4:40:30 AM
 

Recently, I had the opportunity to attend the Queensland Advanced Technologies Future Symposium alongside Anthony Hook and Steve Muir McCarey, an event that brought together some of the brightest minds in quantum computing from Queensland and Australia. The symposium was a buzz of scholarly expertise and forward thinking, where quantum computing were explored in depth, primarily from an academic perspective. Each speaker was very insightful and knowledgeable, with one in particular, Professor Andrew White, leaving me with plenty to consider following his presentation. He discussed how quantum technology could provide fresh perspectives on traditionally well-trodden paths, and his example of using quantum methods to analyse a Lilypad demonstrated how quantum computing opens the door to entirely new ways of thinking. 

 

In the corporate world, we often seek fresh perspectives to solve old problems. Quantum Technology, like the internet and artificial intelligence before it, is beginning to gain more ground swell and capture the imagination of forward-thinking leaders. From my perspective, Quantum Technology is still very much in its academic phase, far removed from the day-to-day realities of business. But, in the same way the internet evolved from military use into the commercial powerhouse it is today, I believe Quantum Technology is on the cusp of a similar transformation.

 

The question, then, is how long will it take before Quantum Technology is a technology that businesses can adopt without needing a team of researchers behind them? This is where the open-source model comes into play. During the symposium, Anthony asked a poignant question on when will quantum become open source, and paralleled it to the rapid growth of AI which resulted from being accessible to the general public. When AI opened itself up to the community through open-source platforms, the speed of development and adoption accelerated dramatically. Could quantum follow the same path, democratising the technology and making it accessible to businesses of all sizes?

 

In this article, I break down my thoughts on how quantum could benefit Brands; Customer Experience; Data; and Media and Marketing.

 

Quantum Technology for Brands

 When we talk about brands, we often focus on the emotional connection they foster with consumers, but the nuts and bolts of delivering that brand message consistently are critical.  The codification of the brand which is delivering regularly. The power of quantum computing, when applied to brand management, is in its ability to bring a higher degree of consistency and reliability to the way brands communicate with their audience. 

Brand consistency is crucial for building trust. Inconsistent messaging—whether it's in tone, timing, or medium—can erode consumer trust and dilute the brand’s image. With multiple touchpoints across digital platforms, email marketing, physical stores, and more, ensuring that a brand delivers the right message at the right time is challenging. This is where quantum computing can step in to support brand managers and marketers in maintaining consistency.

Quantum computing excels in processing large datasets and making sense of complex, multidimensional data in real time. For brands, this means the ability to hyper-personalise every interaction without losing sight of the overall brand message. Rather than relying on broad demographics or historical data, quantum computing can tailor messaging for individual consumers by analysing their behaviours, preferences, and interactions across all channels. This level of precision ensures that brands stay consistent, yet personal, in their outreach.

Furthermore, quantum computing can help brands optimise their marketing strategies on the fly. Quantum algorithms can analyse the effectiveness of brand campaigns in real time, allowing marketers to tweak and adjust messages while a campaign is live. This not only saves resources but also ensures that the brand remains aligned with the consumer’s needs at every touchpoint.


Retail example

Take retail as an example. Quantum computing could transform how large retail chains manage their branding efforts across physical stores and digital platforms. By analysing customer behaviour data in real time, quantum-powered systems can deliver personalised promotions, ensuring that customers see the right message at the right time, whether they are shopping online or in-store. Imagine a retail brand adjusting its promotions based on current trends, stock levels, and customer feedback, all while maintaining a consistent brand voice.


Healthcare example

In healthcare, branding is more nuanced but equally important. Healthcare brands, whether they are pharmaceutical companies or wellness services, need to convey trust and expertise. Quantum computing can enable them to consistently deliver personalised healthcare information across different patient touchpoints. For example, a pharmaceutical brand could use quantum algorithms to tailor educational content based on a patient’s medical history, making sure the information aligns with the overall brand message of reliability and care.

 

Quantum Technology for Customer Experience

 

My belief is that customer experience is at the core of a successful business. The way customers interact with a brand, and the impressions they form, can make, or break a business. Consumers expect personalisation, speed, and consistency in every interaction, whether they’re shopping online, booking a flight, or managing their finances. Quantum technology’s ability to process vast amounts of data in real time can enable brands to deliver a more seamless and intuitive customer experience.

At the core of quantum technology’s potential in this area is its ability to predict customer needs before they even arise. Quantum algorithms can process multiple variables at once, creating predictive models that allow brands to anticipate what a customer is likely to want or need at any given moment. This goes beyond basic personalisation and enters the realm of truly intuitive customer experiences.

Speed is another area where quantum technology can have influence. As consumers become more accustomed to fast and efficient service, brands that fail to meet those expectations risk losing customers. Quantum technology’s ability to accelerate data processing means brands can respond to customer needs faster, from processing financial transactions to resolving customer service queries. 

 

Finance example

In finance, quantum technology can revolutionise customer service. Banks and financial institutions manage massive amounts of data, from transaction histories to market trends. By leveraging quantum algorithms, they can process this data in real time, allowing for faster and more accurate service delivery. Imagine a banking app that predicts a customer’s need for financial advice or a new product offering based on their spending habits, offering relevant information at just the right time. 

 

Travel example

In the travel industry, quantum technology can create smoother customer journeys. From booking flights to managing travel itineraries, quantum algorithms can analyse real-time factors like weather, traffic, and booking trends to offer personalised recommendations. For example, an airline could use quantum technology to predict the best travel options for a customer based on their preferences, ensuring a more personalised and enjoyable travel experience. 

 

Quantum for Data

Quantum technology and data are intrinsically linked. While traditional technology systems can analyse large datasets, they are limited in how much they can process at once. Quantum technology, on the other hand, thrives on multivariate data analysis, making it the ideal technology for businesses that want to harness their data effectively. However, there is a catch—businesses need to have their first-party data structured and ready to make the most of quantum technology’s capabilities.

Many businesses struggle with messy and inconsistent data. This lack of data integrity can significantly reduce the effectiveness of quantum-powered insights. For businesses looking to leverage quantum technology, the first step is to have well structured and organised first-party data. Without structured data, even the most advanced quantum systems will struggle to deliver valuable insights.

Once data is prepared, quantum technology can process it at a speed and scale previously unimaginable. This opens the door to better decision-making, more accurate predictions, and improved efficiency across all departments. In retail, quantum technology can analyse customer data to predict future trends and optimise inventory management in real time. In healthcare, it can process patient data to provide more accurate diagnoses and personalised treatment plans.

Quantum technology can also assist businesses in cleaning up their data. Quantum machine learning algorithms can detect patterns and inconsistencies in datasets, automating parts of the data-cleaning process and ensuring that businesses have the high-quality data they need to move forward.  The utilisation of this technology would need to go hand-in-hand with a robust data strategy, to ensure business objectives are met.

 

Healthcare example

In healthcare, the ability to process large amounts of patient data is crucial. Quantum technology can help healthcare providers integrate data from various sources, such as electronic health records, genetic data, and diagnostic reports, to deliver a more complete picture of a patient’s health. This not only improves operational efficiency but also ensures that patients receive the right care at the right time.

 

Retail example

For retailers, quantum technology can optimise inventory management and reduce waste by predicting customer demand more accurately. By analysing historical sales data alongside real-time factors like customer behaviour and market trends, quantum-powered systems can ensure that products are available when and where they’re needed, reducing stock shortages and overstock issues. 

 

Quantum for Media and Marketing

Media and marketing are two areas where quantum technology’s ability to process complex data sets in real time could truly shine. In an industry that relies heavily on targeted messaging and audience segmentation, quantum technology can elevate personalisation and campaign optimisation.

One of the biggest challenges in marketing is ensuring that the right message reaches the right audience at the right time. Traditional methods of segmentation rely on historical data and generalised demographics. Quantum technology, however, allows for real-time segmentation based on a multitude of factors, such as customer behaviour, preferences, and even external variables like weather or social trends.  Blending Quantum with the right AI system, could in theory deliver mass targeted creative at scale with consistency

Quantum technology also offers significant benefits for resource allocation in marketing. By processing campaign data in real time, quantum algorithms can determine which platforms, messages, and formats are most effective for each target audience. This level of precision ensures that marketing budgets are spent efficiently, driving better results with the resources available.

 

Retail example

In retail, quantum technology can supercharge targeted marketing efforts. By analysing vast amounts of customer data in real time, brands can tailor their promotions and offers to individual shoppers based on their behaviour and preferences. Imagine a retail brand running a live marketing campaign that adjusts dynamically based on customer interactions—if a particular promotion isn’t resonating with a specific audience, the quantum-powered system could tweak the offer or messaging to improve engagement.

 

Finance example

In finance, marketing is often focused on personalising offers and advice for individual customers. Quantum technology can enhance this by predicting customer needs and delivering personalised financial products or services when they’re most relevant. For example, a bank could use quantum algorithms to identify customers who are likely to be interested in a new loan product and target them with personalised offers at just the right time.

 

In Summary

Quantum technology is not just about solving complex problems—it’s about unlocking new possibilities for brands. The future of business will be shaped by those who are ready to embrace the power of quantum and integrate it into their organisation.

Businesses that prepare now by investing in data readiness, exploring quantum applications, and staying ahead of the curve will find themselves better positioned to deliver consistent, personalised, and impactful experiences for their customers.