Since the coronavirus pandemic took hold of our lives, virtual events have taken centre stage. With evolving time, virtual events are becoming the new normal, and AI is no longer something that business owners, marketers or organisers can afford to ignore. There is no denying that AI is proving to be one of the most important resources available for creating top-notch, successful events.

But before we go any further, let’s understand, what is AI?

Most of us relate Artificial intelligence (AI) to sci-fi movies like Matrix or Inception. But AI is simply the human-like intelligence of a computer. One of the most intriguing aspects of AI technology is its ability to process vast amounts of data in the blink of an eye.

According to Grand View Research, global virtual events industry was worth USD 77.98 billion in 2019, and is estimated to expand at a compound annual growth rate (CAGR) of 23.2 percent from 2020 to 2027, reaching USD 404 billion. Artificial Intelligence will be an integral part of this progress. From matching-making, personalised recommendations, automated updates and alerts, to pre and post-event analytics, AI plays a significant role in making the entire process of virtual events smoother and more efficient.

Here’s a breakdown of some of the key aspects of AI technology that can assist you in planning and organising successful virtual events:

Valuable Event Insights

Manually processing data of each event participant can take days or even weeks, and it is more vulnerable to errors. AI technology, on the other hand, processes all the information (name, interests, contact information, business of an individual etc) with 100 percent accuracy in seconds. Event platforms can be enabled to use this data to extract meaningful event reports and insights.

For example, based on data from pre-event activities and previous events, an AI-enabled event platform can predict the traction of the upcoming event. These predictions can help the organiser in evaluating their marketing strategies and allocation of resources, and overall effective event planning.

Matchmaking

What do you think of finding the right sellers of a product you’re looking at buying in an exhibition of hundreds and thousands of exhibitors? Well, AI can come to your rescue in formats like large exhibitions and buyer seller meets.

Event platforms that offer AI-powered matchmaking between buyers and sellers can help connect participants with the right opportunities and people, allowing them to make the best of the experience and achieve their goals in the shortest period of time.

Now, imagine the system telling you from the shortlisted sellers, which are the ones that are offering discounts! Possible. With AI-enabled event platforms.

Automated Alerts & Teleportation

An AI-enabled virtual platform can make the whole event experience enriching for participants. For instance, if you wish to visit a virtual event with a friend, it can send you an alert and help you visit specific areas together.

It can record and remind you of the important events that you don’t wish to miss in a virtual show and teleport your virtual self from an inauguration hall to the sponsor booth or a networking lounge within seconds, making sure that you miss out on nothing important.

AI is the future of the events industry. AI technology is making events more organised, targeted, customised in order to offer ideal experiences. Each event participant is unique and therefore should be and can be given a custom experience using artificial intelligence.

The Covid era is the prime time for companies and organisers to leverage the advantages and make the most of AI technology. Event trends will keep on evolving as technology advances. Business and event organisers will have to adapt to changing needs and demands of the audiences to survive and succeed.

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Home Lending Pal’s marketplace leverages artificial intelligence, data science and machine learning to automate manual tasks

To be successful, lenders have to rely on mortgage lead generation to find potential borrowers. But generating leads isn’t an easy process, especially if businesses depend on older methods to produce results. 

Home Lending Pal (HLP) has an anonymous marketplace that uses conversational intelligence, machine learning and blockchain to help first-time homebuyers through the home research and lending process. HLP helps banks, credit unions and non-bank lenders lead with transparency by automating and digitizing the process.

“Our AI captures data at scale, reduces human capital, and improves efficiency and effectiveness to signal high-quality leads that will close fast,” said Steven Better, Home Lending Pal COO & co-founder.

It’s no secret the housing market is hot right now. Even though home prices are on the rise, low interest rates make purchasing a home an attractive option. And while this is great news for borrowers, lenders have to work hard to stand out among the competition and produce leads that will end in closings. 

Some mortgage professionals are generating leads that are only being paired based on cost-per-lead budget instead of how well they fit into mortgage overlays. On top of this, most vetting of the lead is being done by the lender, which often requires the borrower to submit the same information multiple times.

Mortgage businesses need to lead with a digital-first experience that delights customers even on third party marketplaces. Home Lending Pal’s marketplace leverages artificial intelligence, data science and machine learning to automate manual tasks and to create a better experience. By integrating digital platforms, borrowers can get personalized insight with little to no human interaction. 

“With our solution, potential borrowers gain deeper insight into the possible outcome of a mortgage application on a home without a negative impact, a significant time commitment, sales pressure or potential embarrassment,” saidBryan Young, Home Lending Pal CEO and co-founder.

Home Lending Pal’s AI-powered mortgage advisor simulates underwriting to determine mortgage approval odds, makes affordability recommendations, and solves borrowers’ and lenders’ problems. The pairs are based on mortgage overlays and allow potential borrowers to select which lenders they would like to work with based on service quality and approval likelihood, not just marketing spend.

“Unlike other solutions, HLP’s direct-to-consumer focus allows it to build, validate and attest consumer financial and credit information before connecting them to mortgage lenders. Borrowers can research privately before submitting all documents needed for underwriting electronically through the HLP platform,” said Joey Barrow, Chief Mortgage Officer at Home Lending Pal.

Home Lending Pal removes human biases to provide transparent and objective information that advocates for the borrower in the lending process. 

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