e have all heard about AI-powered matchmaking being leveraged in dating apps. These apps use AI and data to connect a person to the most compatible match, detect fake profiles and personalise the goals of the experience, all in a matter of seconds. So if you are Juliet looking for your Romeo, you are more likely to find him on these AI-enabled dating apps.
This advanced AI technology has left no area of our life untouched and is now revolutionalising the virtual event landscape. Read on to find out how intelligent virtual event platforms are improving attendee engagement and business outcomes.
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Before we get to how AI matchmaking is changing the event industry, let us start by defining what Artificial Intelligence (AI).
What is Artificial Intelligence?
When machines mimic the actions of human beings and perform tasks that require problem-solving, reasoning, perception and learning, this concept is called AI. Think Siri or Alexa or the recommendations offered to you by Netflix. All of these are based on the concept of AI.
The AI market is predicted to grow by $ 253.82mn during 2021-2025, progressing at a Compound Annual Growth Rate of 49% during this time.
Intelligence is the application of skills and knowledge in performing a task or several tasks. It replicates human intelligence in machines. AI has become so much a part of our lives and has completely taken over our daily chores, in some cases, without us even realising it.
AI requires a lot of data to perform well or, let us say, perform at all. An essential technology within AI is called Machine Learning (ML) that analyses millions of data at an unbelievable speed and comes up with recommendations, predictions and patterns.
For example, if you happen to shop on Amazon, you might have seen this message, which says, “Customers who bought this product also bought…”. Or if you are searching for a person on Linkedin, you might come across this message which goes “People you might know or people you might also want to contact…”. The technology behind these recommendations is based on the concept of ML.
AI offers you highly personalised solutions. The matchmaking capabilities of AI use Deep Learning Algorithms to connect two closest objects. They use millions of data to search, analyse and make comparisons in matchmaking. They offer you options or recommendations in order of priority. The idea behind this process is simple and yet surprisingly impactful and powerful.
Benefits of AI-based matchmaking in networking events
Matchmaking and networking is a complex process, and you might wonder how an AI-powered tool can understand what matches two people, how to analyse if they click and the process of bringing them together.
It goes beyond job titles and keywords and gets down to a deeper level of human understanding, more on a psychological level, purely based on organisers’ past behaviour and choices.
One of the most significant advantages of using an AI tool in matchmaking at events is saving time. Manual processes are automated. Not only does AI learn how to do new tasks faster, but it also understands how to perform routine tasks simply and easily.
There is a lot of data involved in matchmaking events, from the attendee’s name to their job, their interests and much more. Imagine the amount of time and effort it would take for a human being to process all this data and offer solutions to the participants. It might take days rather than weeks, and get your head around so much information about so many people.
Here is where the beauty of AI comes in. They treat all this data as points, which they can process in a few minutes. Data can be analysed not only for the current event that you might be hosting but also for information from past events. And it does not matter whether it is one past event or hundreds of them. AI can analyse hundreds of millions of data.
Goals of attendees
AI gets down to understanding the goals of each attendee at the event. What is the purpose of the attendees being at the event in the first place? What are their goals? Who should they be meeting to achieve their goals? What is the success mantra for converting an okay or a good match into a terrific match?
For example, if Person A is a perfect match for Person B, but Person B is not interested in Person A, but would instead want to meet Person C. AI tries to analyse why Person B chose to want to meet Person C, rather than Person A.
Recommendations and data analysis
AI is good at recommendations and data analysis. For example, if you wish to understand the reasons for your attendees being at your event, be it for employment, get new leads and network, purchase a solution or a product, and much more, the AI tool can provide you with all this information.
To elevate attendees’ experience and make the best possible recommendations to them, from the different sessions to networking, AI does all this hard work on behalf of the event organisers.
Analysis of past behaviour
To provide efficient and effective networking and to improve the relevance and quality of matching participants, AI tools learn from the choices that attendees make, from their current behaviour and also from their past.
Once AI has offered attendees the best possible choices, they can go a step further and organise their meetings without the help of the event organisers.
In another scenario from the above, if attendees wish to take the help of the event hosts to book appointments, schedule meetings and follow up on these meetings, imagine the nightmarish tasks that the organisers might have to go through to be able to schedule all these activities organically or have them flow smoothly? An AI tool can become your best friend in such situations and have everything organised like clockwork. It improves the event planning process in a compelling and impactful way.
Efficiency of networking
The efficiency of networking is increased at such events. Event organisers can reach out to their potential audience in a wider scope through AI managed events. Relationships are made stronger, and communication flows freely and better.
Higher interest and engagement
Why is AI Matchmaking in Events Important in 2021?
The future is now! Technology like AI is here to stay. AI can completely change the process of event planning, providing an elevated attendee experience and the ability to collect and analyse data post the event. According to research, the Compound Annual Growth Rate (CAGR) is predicted at 23.2% from 2020 – 2027 for virtual events.
In today’s times, there is an increasing demand from individuals and corporates to meet the needs of a remote workforce across the globe. It is fairly uncertain when physical events will return, and it seems like the near future is expected to be built around virtual event experiences.
With the pandemic and lockdowns turning the world entirely on its head, where social distancing is the need of the hour, organising a physical event is next to impossible. Virtual events have sprung up everywhere, and people are happily going digital. Hence an AI matchmaking event becomes that much more important, to offer participants an exhilarating experience, something that goes far beyond their wildest imagination.
That is especially true for AI matchmaking for virtual events, AI matchmaking for webinars and conferences. Listed below are some of the excellent characteristics of AI-powered virtual events.
- Ability to attract, amplify and convert audiences into potential leads
- Spontaneous and life-like networking experience, like never before
- Ability to host up to 100k participants, all at the same time
- Lends a personalised touch to an impactful virtual experience
- Boosts ROI for sponsors and increasing participation recall
- Seamless streaming events on YouTube and Facebook.
- Allows attendees to tune in from anywhere on their mobile devices.
- Hassle-free and easy for event hosts
- User-friendly and immersive
- Extremely secure and safe
- Providing a platform to bring the right people together, have meaningful conversations and interactions based on shared interests, whether you are an individual, a start-up or an established company. Meaningful conversations lead to memorable experiences and a feel-good sense of well-being.
- Customisable tables and event branding
- Efficient and cost-effective.
Speed Networking is a relatively new feature of an AI managed virtual event that offers a fantastic experience: the best of the best connections to participants. It is like a real-life event that matches participants who believe in powerful conversations over simple connections
Read more about the Speed Networking feature here.
Participants are matched with each other for a quick one-on-one, and the event organiser decides the time duration of this virtual meeting. Attendees can connect with as many connections as they want to, and if the conversation requires some more time, it can be carried over to the lounge section of the virtual meeting.
When technology has taken the world by storm, why get left behind and feel like a dinosaur? Competition amongst events is sky-high, and everyone is increasingly attuned to getting the maximum number of interested participants to their events. It makes sense to go with what everyone in today’s times is adapting to, that is, newer technology and, in this case, AI-backed events, to have a more significant impact on the choices that you make in driving your business towards success.
Artificial Intelligence in virtual events offers collection and processing of attendee interests and goals. These are then matched against event participant data to offer the best-matched recommendations for them. That helps in generating meaningful connections and interactions to drive participant engagement and deliver successful events.
The most significant benefit of AI-powered virtual events is that it makes smart networking possible. It allows the processing of large data sets in a matter of seconds, helping achieve participant and event goals quickly and efficiently.
Airmeet uses Programmatic Match Making for its “Speed Networking” feature, where attendees get matched against each other for a one-on-one virtual meeting.
AI-powered networking takes into consideration the interest and goals of attendees. It matches them against the data available for other event attendees to offer the best matches for conversations and networking.
For attendees, an AI-powered conference offers efficient, personalised matchmaking, leading to qualified conversations and increased ROI. At the same for exhibitors, it results in real-time insights into business leads and post-event analytics to measure metrics.