What marketers are doing with artificial intelligence?

  • TECHNOLOGY
  • 2 MIN READ
Venkat Ramakrishnan Chief Executive Officer
AI

AI is here and it is widely used in the marketing industry to boost marketing content and enhance the digital purchasing experience for consumers. Marketers would now be able to track the decisions of consumers across various channels and platforms, providing a more detailed insight on AI-driven analytics and changes to buying strategies.

In the advertising industry, AI can inspire a more holistic approach to target specific audiences without bias. This helps brands to develop specific and appropriate advertising campaigns that will drive market investment and mitigate marketing risks significantly. Though, you cannot expect that it will be void of all bad assumptions, but you can expect it to alleviate a fair amount of human error-caused risk.

Examples of effective use of AI is seen on Amazon, Google and Pinterest. For instance, if you need to find a specific product, all you need to do is upload a picture to the Amazon app and AI would recognize the product, find it, and offer you options. Similarly, if you see someone wearing a particular clothing item and you want to purchase it, point the Google Lens camera at it and google will tell you where you can buy similar pieces.

AI is even in your GPS system, telling you how to park, where to park, which lane you should be on and how to get where you need to go. Marketers can use this technology to bring clients to their business, encourage shopping experiences from analyzing consumer trends and even improve on their own business processes and customer experiences through personalization. Marketers know that consumers are critical for AI success and advanced analytics. Data quality is just as important as data quantity but if the data for AI systems are poorly measured, AI marketing patterns cannot accurately identify meaningful patterns.

AI algorithms can make mistakes, but marketers believe that AI has the potential to help them achieve their objectives, even though AI can potentially lay threat to their jobs. AI would be used, in the near future, to automate everything from communications to campaigning and in order to stay afloat and survive, marketers need to include this aspect into their everyday business processes because popular brands would only become more popular and consumers are likely to go with the most popular trends.

AI would improve on return on investments of individual campaigns, facilitate user experiences and decrease costs for marketers. The entire purpose of AI is to free up human time to allow for more creativity since AI would cover all the analytical and date-centric areas involved in marketing. Some companies have even started to use AI chatbots to improve their customer-experience. Consumers prefer content that resonates with who they are and this is what AI does but yet, most studies show that people fear that AI will consume their jobs, thus eliminating more jobs than they would create. This is far from the truth because AIs are only as intelligent as you programme them to be and the workforce for AI human intelligence is still very limited.

Published: Feb 11,2019 10:30:00 AM IST
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