Marketing 0

Embracing Selective Attention
Barry Schwartz argues in The Paradox of Choice that contrary to
popular belief, eliminating choices reduces decision making anxieties
and improves happiness. Indeed, humans are born with selective
attention. We tend to channel our attention toward relevant stimuli
and block out irrelevant ones. It allows us to filter and process
information with our limited attention span and focus on what is
important.
Too many product choices, commercial messages, and channel
options distract us from making what should be a simple buying
decision. We have come to expect that complex decision making
should never be our job and that companies are responsible for
simplifying the options and making the best recommendation. AI
technology should replace selective attention filtering in our minds
so it is more manageable to make decisions in the era of information
overload.
With millions of customer profiles and reviews, companies should be
able to match specific customer needs with solutions. In consumer-
packaged goods, for example, AI algorithms should be able to
suggest the exact product variant and decide from which distribution
center to send it. In the insurance sector, AI models may empower
companies to set an optimized coverage bundle and pricing based on
the past behavior of policyholders.