8 Benefits of AI in Event Matchmaking

Who could have imagined the notion of being able to take part in an event without the necessity of being physically present in it. Ever since the pandemic overtook our lives, AI has ensured that this becomes a possibility by making the concept of “virtual events” the prevailing norm.

 

As per the Grand View Research, the global virtual events market stood at USD 77.98 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% to USD 404 billion, from 2020 to 2027. 

 

With there being a massive set of data involved in the world of event matchmaking, the event industry offers umpteen opportunities for AI to sink its paws into the sector and polishing it. 

 

Not to mention the value additions the trend offers by offering cost savings, measurable ROI, deep audience insights, while simultaneously enhancing the experience of attendees through engaging 3D virtual environments.

 

With businesses and entrepreneurs realising that AI is here to stay, the approach of leveraging it for setting up first-rate and stellar virtual events has proven to be a highly effective one. 

 

As the popularity of virtual events rises at an alarming rate, AI powered event matchmaking becomes a necessity, offering participants with an engaging experience, one they couldn’t possibly have anticipated. 

 

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Be it by offering personalized suggestions, facilitating matchmaking, offering automated updates and alerts and conducting the analytics before and after the event, an integral role is essayed by AI in ensuring that the whole process of virtual events becomes competent and flawless. 

 

AI powered matchmaking tools can process a plethora of data points by itself for determining the most superior match, one that is based on not just the data of that event but also from the data collected and processed across a wide range of events. 

 

In this blog, we will explore and highlight the role AI plays in Event Matchmaking. 

 

 

What is AI-Powered Matchmaking?

 

Virtual events are set up for delivering a specific message, tapping into potential attendees, expanding connections,  enhancing engagement and for generating additional leads and revenues. Going through thousands of people at an event for selecting the perfect candidate to interact further with is hardly easy. 

 

AI matchmaking helps to discover the best suitable attendees that match the user’s interest at the event for them to interact further with them. It also helps in saving time and in determining the most relevant matches, making networking through virtual events easier. Through audio and video calls the attendees can have real-time conversations and interact with suitable attendees.

 

 

AI in Event Matchmaking

 

We’ve got plenty of ways through which the use of AI has proven to offer an advantage to events. Let’s take a scenario into context. For instance, if one has organised a virtual exhibition event, how would the organisers go about with the process of matchmaking?

 

In case of matchmaking without AI, an extensive list of all the exhibitors involved and the participants will be scanned by the attendees to determine who is complimenting their interest. A long and lengthy time period elapses in the process of examining the varying profiles, until a handful of suitable people are shortlisted for the networking. 

 

In case of matchmaking carried out with AI, the technology gathers and processes the information regarding each attendee, examines the options that the decided options and supplies the most suitable matches in the blink of an eye. In case of the options not being suitable, it continues adapting for enhancing the relevance of matches, till the most suitable match is determined. 

 

The considerable time saved offers more time for the organisers to concentrate on other important event components, saving money while enhancing the core. AI matchmaking is also leveraged for people to object connections, in which suggestions are made by the AI algorithm for products, sessions as well as content.  

 

A wide sea of presentations, brochures of companies, webinars, product listings and related videos are available at the behest of attendees. But who shortlists all this data? AI matchmaking assists in offering curated choices for eliminating all the unnecessary items and for selecting relevant content. This in turn helps save research time, and facilitates better decision making. 

 

An example of this is ExpoPlatform’s AI-powered matchmaking software. This software helps organisers in customizing matchmaking rules for helping attendees to connect through relevant items, meetings and choices of sessions and suggesting content.  These suggestions are offered through a blend of user preferences and interactions undertaken within the platform of the event.

 

MeetingPlay, an event platform has introduced the AI powered event matchmaking feature to facilitate easier networking, especially when it comes to virtual events. The platform helps out in connecting attendees, and also leverages AI for suggesting relevant events and exhibitors to its users. 

 

 

Benefits of AI powered Event Matchmaking

 

AI powered matchmaking becomes a huge advantage for event platforms. Platforms offering this feature among buyers and sellers can aid in connecting participants with suitable opportunities and partners, for helping them in accomplishing their purpose in a small amount of time. 

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Benefits of AI based Event Matchmaking

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Through AI enabled event platforms, the system can even determine who among the shortlisted sellers are facilitating discounts. We’ve listed some notable advantages offered by AI in Event Matchmaking below : 

 

1. Saves time

 

This is among the most pivotal significance of AI powered event matchmaking. With the automation of manual processes, alongside performing tasks swiftly, AI also learns how to execute routine tasks in an easier manner. 

 

An immense amount of extensive data is involved when it comes to matchmaking events, be it the names of the attendees, their occupations, preferences and so forth. Manual processing of this data and offering of solutions would involve a huge amount of effort and time, which is exactly where AI emerges as a solution. 

 

As mentioned earlier, AI powered tools treat all the data as points that can be processed within a handful of minutes. The data is capable of being analyzed for not only the present event being hosted but also for past event information. Irrespective of the amount of the past events, AI powered tools are capable of analyzing a vast amount of data. 

 

 

2. Understanding attendee goals

 

AI takes an effort to comprehend the goals of every attendee at the event. From their goals, their purpose, how they can accomplish these goals and what approach they can adopt to ensure an excellent match. 

 

For instance, if say X is the best match for Y, but Y is not interested in X and is instead interested in meeting Z. AI attempts to interpret why Y chooses Z rather than selecting X. 

 

 

3. Improves Recommendations and data analysis

 

AI plays an excellent role in prompting recommendations and data analysis. For instance it can help organisers in understanding the reason for attendees being present at an event, whether it is for employment, for gaining new leads or networking, for purchasing a product or a solution or a product, and more such causes.

 

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Be it the various sessions or networking, AI tackles the troublesome work on the part of the event organisers for ensuring that the attendees receive an excellent experience and receive the most suitable recommendations.

 

 

4. Improves Analytics

 

Matchmaking through AI ensures that the organisers have access to accurate data, which in turn facilitates accurate and reliable data analytics. 

 

AI powered matchmaking aids in gathering the data of attendees, with regards to their interest area, target exhibitors etc. It helps them in understanding the various components of an event extensively. 

 

AI tools are capable of learning from the choices made by the attendees, both in the past and in relation to their current behavior. 

 

 

5. Facilitates Exhibitors 

 

Upon sponsoring an event, a brand has a number of objectives that it targets. Exhibitors also have a particular objective, which is mostly to focus on maximizing their reach. 

 

The AI matchmaking feature ensures that the exhibitors have superior reach when used for a virtual event. 

 

This is done by preparing a list of interested attendees that prompts exhibitors into contacting potential participants, which in turn enhances the audience engagement and helps in expanding the customer base. 

 

 

6. Handling Logistics

 

It is extremely exhausting for the event organisers to smoothly manage their tasks if the attendees require their assistance for booking their appointments and for scheduling and following up on their meetings. 

 

(Suggested Read - AI in Logistics )

 

AI tools play the role of a savior here by organising everything without a hitch. They enhance the planning process of events in an easy and engaging manner.

 

Once the most suitable options for the attendees have been selected by AI, the event organisers can brush this task off their hands and they no longer need to coordinate their meetings.  

 

 

7. Enhances networking efficiency

 

Networking efficiency is enhanced via AI powered event matchmaking. The event organisers can connect with the potential audience in a wider scope via events managed through AI. This helps in strengthening relationships and in making the interactions flow flawlessly. 

 

 

8. Ensures higher interest and engagement

 

A matchmaking event powered by AI, piques the interest of the attendees and expands participation. The audience engagement is enhanced, resulting in an improved and loyal set of consumers. 

 

Some other advantages include enhanced revenues and generation of a considerable number of leads which can be focused on.

 

When it comes to the events industry, we’re long past the stage of manual work, with AI emerging as its future. The AI technology ensures that events are targeted, organised, and tailored for offering superior experiences. Different event participants require a personalized event experience and AI makes it possible.

 

The pandemic era has offered an excellent advantage for platforms and event organisers to leverage AI powered matchmaking technologies and figure out the best possible matches. It will be interesting to observe how this trend of making use of AI in event matchmaking shapes up and evolves in the future.