Aptitude 8's CEO, Connor Jeffers hosted Yamini Rangan, CEO at HubSpot, for the inaugural episode of Aptitude 8's podcast, GTM with AI. They chatted through Yamini's early beginnings with AI before diving into the vision for HubSpot and AI and what the future could look like.
Keep reading to learn more!
Where It All Began
It has been an eventful few years for AI technology. From the release of GPT-3 in November 2020 to the continuous advancements in generative AI, the potential impact of AI on various industries is becoming increasingly apparent.
Yamini's interest in generative AI was piqued during her studies in computer engineering, where she first learned about neural networks. The idea of neural networks got her thinking about the possibilities and potential impact of generative AI.
Fast forward to November of 2022, when AI was put in the hands of customers and customers were starting to use it for practical applications... Yamini knew things were changing!
HubSpot: Leveraging AI in the Organization and Products
Recognizing that AI was beginning to change the business landscape as we all know it, the leadership team at HubSpot began to explore how AI could be incorporated into their products. They discovered that the time delay between AI research and product implementation is remarkably short, with research translating into practical applications in just a matter of weeks.
HubSpot's vision was to democratize AI technology and embed it throughout their platform, building an AI-driven Customer Relationship Management (CRM) system. Because, according to Yamini, every company now needs a smart CRM.
They aimed to create a customer platform that is seamlessly integrated with AI, providing a unified system of record and engagement.
HubSpot's AI-Driven CRM: A Game-Changer in Customer Relationship Management
The core of HubSpot's CRM is its system of record, which unifies data from marketing, sales, and service. This unified customer record is the biggest differentiator and most powerful feature of the platform.
And with AI, this system of record becomes smarter, offering users the ability to customize and extend its functionalities.
In addition, HubSpot has invested in building a separate system of engagement. This system focuses on activities such as prospecting and engaging with customers. The distinction between the system of record and system of engagement is crucial, as it allows for better outcomes and enhanced user experiences.
By integrating AI into the core CRM tool, HubSpot ensures that AI is not just a side application but a central component of their offerings.
Why is this a significant detail? Because it has been found that how AI is connected to the tech stack matters.
The Advantages of AI Integration and Customization
One of the most exciting features of HubSpot's AI-driven CRM is the customization options within the core CRM infrastructure. Users can tailor the CRM to their specific business needs, giving them a competitive advantage in their respective industries.
This level of customization promotes effectiveness and ensures that the CRM becomes a powerful tool for organizations.
Moreover, HubSpot's core CRM is included for free in every product they offer, unlike other organizations that sell it as a separate feature. This makes AI accessible and enables businesses of all sizes to leverage its power.
Accelerating Go-to-Market Efforts with AI in the CRM Space
CRM platforms are an ideal space for AI to make a significant impact, as they allow access to vast amounts of data and seamless integration into existing workflows. However, many teams lack the necessary expertise to fully leverage the potential of predictive and generative AI.
HubSpot recognizes this gap and aims to bridge it by incorporating AI directly into the CRM platform, enabling businesses of all sizes to harness the power of language models and predictive AI. The adoption of AI in CRM platforms is already leading to improved performance for teams in sales, marketing, and service.
AI adoption in go-to-market and front office activities is currently in its early stages. The use of task-based AI, where AI is used to perform specific tasks in the workflow, is the first phase of adoption. Many companies are releasing beta and general available features to drive these task-based AI solutions.
The next stage will be goal-based AI, where AI can assist with complex goals within front office activities. For example, AI could help campaign managers determine the most effective combination of content and channels for maximum return. The idea is that this goal-based AI will be seamlessly integrated into your workflows, rather than being a separate point solution.
The Power of Communication and Connection
The speed and feedback loop of communication are key factors in the impact of technology on businesses. Digital work allows for faster communication and quicker feedback, leading to increased productivity and real-time decision-making.
The efficacy and speed of work can result in higher quality outcomes. However, it is essential to focus on using intelligence to drive connection and effectiveness, rather than increasing volume.
Having all customer data in one place enhances the effectiveness of AI and generates more valuable insights. As customer expectations rise, companies need to keep up with technology to meet these expectations. The speed at which technology advances and is adopted is increasing, making a unified system of record and a unified view of the customer crucial for effective AI implementation.
The Key to Successful AI Implementation: Clean and Connected Data
To generate valuable outcomes from AI, it is essential to have clean and connected data, along with consistent processes. Feeding AI with bad data will yield no valuable results. In fact, AI is only as good as the data it is fed. HubSpot's core CRM, with its unified system of record, plays a pivotal role in deploying AI technology effectively.
AI's Role in Marketing, Sales, and Service
When it comes to the adoption of AI in marketing, sales, and service, differing levels of impact can be observed. In marketing, generative AI can automate content creation and personalization, optimize advertising spend, and improve customer segmentation.
Sales teams can benefit from conversation intelligence, call summarization, and insights for next best actions based on customer journey data. AI in service can enhance self-service through natural language conversations with knowledge bases and improve efficiency in customer support interactions.
While marketing teams have been quick to adopt AI, sales and service teams have immense potential for AI implementation. The successful adoption of AI in these areas depends on executive buy-in and a belief in the power of generative AI to drive improvements.
Overcoming Obstacles and Driving Adoption
The biggest obstacle to AI adoption is often the fear of getting started and not knowing where to begin. Concerns about security, data privacy, and the impact on customer experiences are common blockers to adoption.
Starting slowly and gradually progressing is crucial. Consider beginning with conversational bots or by introducing productivity tools—they're both an excellent starting point.
Addressing data privacy and compliance concerns, as well as holding vendors accountable for transparency, is crucial. Starting with the customer and working backward is essential to successful AI implementation.
By focusing on AI's ability to drive insights and connection rather than just increasing volume, organizations can harness the true power of AI in the customer feedback loop.
Want to get started with HubSpot & AI?
Interested in getting started with HubSpot and AI?
Let's chat! We're always happy to talk shop and see how we can help users take advantage of AI in their GTM strategies to reach their business goals.