How Artificial Intelligence Is Shaping Modern Marketing?
Are your marketing strategies taking advantage of the massive leaps in technological innovation to reach your customers when—and where—it matters? In the arms race that is modern marketing, failure to capitalize on advances in emerging technologies such as artificial intelligence can result in customer engagement levels far behind your tech-enhanced competitors.
Artificial Intelligence and why it matters to the future of your marketing
There’s been a lot of hype around artificial intelligence (AI) as of late, but few people actually know what it is.
Artificial intelligence is a subset of computer science that revolves around creating software capable of learning and improving its performance over time. Though computers are very good at quickly gathering large volumes of data, knowing what to do with that information and how to use it to pursue of a specific goal has traditionally been reserved solely for the human mind.
How companies are using AI to improve their marketing ROI
With the introduction of AI, companies have gained the ability to not only interact directly with individuals, but to transform the data they leave behind into a blueprint of how to better serve them in the future.
As AI algorithms continue to evolve and advanced computational power becomes more commercially-available, companies are progressively increasing the role of artificial intelligence in their marketing strategies. Often used to interpret the messages lurking beneath oceans of data, artificial intelligence lends a key competitive edge by providing keen predictive insights to correctly anticipate the behavior of customers.
AI Marketing is a strategy for utilizing client information and AI ideas like machine figuring out how to foresee your client's best course of action and enhance the client travel. The classic example of artificial intelligence in marketing is SEM advertising on channels like Google (AdWords), Facebook, and Twitter. According to an IDC report, Denecken reported that by 2019, 40 % of digital transformation initiatives will use AI services. In the coming year, businesses will begin truly seeing the benefits in areas like improved customer service due to AI.
What is The Growth?
The Global Artificial Intelligence in Marketing Market accounted for USD 5.2 billion in 2017 and is projected to grow at a CAGR of 30.1% forecast period to 2025