The potential of AI-powered technology to revolutionize business was a central theme at this year’s Cannes Lions Festival of Creativity. The event, held on the picturesque Croisette, dedicated much of its programming to guiding marketers, content creators, and media professionals through the current and future possibilities of AI. A highlight was Variety’s “Strictly Business” podcast, which hosted a live recording on June 18, focusing on Deloitte’s Converge service and its expansion into sports consumer analytics.
Michelle McGuire, Principal and Chief Commercial Officer of Converge by Deloitte, and Ruba Borno, VP of Global Specialists and Partners at Amazon’s AWS, joined the conversation aboard a yacht near the Palais des Festivals. They discussed how their companies, both collaboratively and independently, are using AI to harness consumer data for deeper insights.
AI and the Sports Consumer
In the realm of sports marketing, the ability to target consumers with precision is invaluable. “What marketers covet most is that Venn diagram of the team, the league, and your own brand,” McGuire explained. Converge by Deloitte synthesizes vast amounts of data to create detailed profiles of sports fans, allowing for highly personalized marketing strategies.
“We know who you are. We know what you care about,” McGuire stated. “Our propensity modeling and understanding of sports and fandom enable sponsors to engage with fans in a personalized manner. It’s about identifying which players fans care about, what merchandise they purchase, and how to maintain brand engagement throughout their fandom journey.”
Data Privacy and AI Insights
The ability to analyze consumer data at scale is a significant advantage for companies like Deloitte and AWS. The AI tools they employ can derive insights into consumer behavior while respecting individual privacy. AWS’s “Clean Room” services are particularly sought after for their ability to process data in a privacy-compliant manner.
“You can bring data from multiple parties, and the underlying raw data remains secure and owned by the original entity,” Borno noted. “This allows us to extract insights, which is crucial for advertisers today. The more data you have, the better insights you can generate, leading to differentiation.”
The Broader Implications of Fandom Research
Sports fandom is a fertile ground for research due to the intense passion and engagement it inspires. McGuire’s work with Converge has shown that studying fandom can provide valuable insights into other aspects of consumer life. The computational power of AI is enhancing audience targeting capabilities to unprecedented levels.
“Fandom is not isolated,” McGuire observed. “It intersects with music, retail habits, and other life areas. Sports fans are diverse in their interests, so understanding them holistically allows for more effective engagement.”
Expanding Horizons: Media and Entertainment
Deloitte’s success with Converge in sectors like sports and healthcare is paving the way for its next venture: media and entertainment. McGuire emphasized the potential for applying AI-driven insights to this rapidly evolving industry.
“The next frontier is media,” McGuire said. “By applying concepts like measurement and engagement, we can help media organizations understand fandom for potential subscribers. Knowing who might subscribe next and how to communicate effectively can accelerate conversion.”
As AI continues to evolve, its application in understanding consumer behavior across various industries will only grow. The collaboration between Deloitte and AWS exemplifies how leveraging technology can provide a competitive edge in today’s data-driven world.
