Even in the largely conservative world of investment promotion, artificial intelligence (AI) has entered the fray. From chatbots and marketing tools to predictive models determining where investors are likely to next set up shop, AI has shown itself useful in attracting FDI. Seth O’Farrell, fDi’s global investment reporter, looks at different use cases of this phenomenon.
During discussions with IPA officials about how data analytics and AI are likely to change the industry at large, one keyword has recurred and resonated: consultative. With greater access to information from the perspective of both the agency and the investor, several IPA officials and advisors tell fDi that the dialogue between the two is set to evolve.
“AI is going to enable an organization like ours to be consultative advisors,” says Chris Camacho, CEO of Greater Phoenix Economic Council (GPEC). “That’s the big shift I see. It’s no longer promotions and sales; it’s about becoming a consultative advisor like Deloitte or McKinsey.”