the future of ai in marketing
The Future of Artificial Intelligence in Marketing
Artificial intelligence has already made significant strides in the realm of self-driving cars, but what role will it play in marketing? A recent survey of CEOs predicted that AI would continue to grow and make an impact on the way we live and do business over the next 10 years. In fact, these executives believe that AI will reach its full potential in 2022 and start drastically changing our lives then — but what does this mean for the marketing world?
How AI is Used in Marketing Today?
AI is primarily used to personalize ads based on demographics and past purchasing behavior. In 10 years, however, AI may be able to take personalization a step further by fully understanding what we want—and need—based on our preferences and moods. This could mean an AI shopping cart that knows you’re coming home from work and automatically adds extra ice cream. It’s a bit far-fetched now (though Amazon is getting close with its use of machine learning to recommend products), but it will only become more realistic as technology improves. Currently, Google Assistant, Siri, Alexa and other virtual assistants are using machine learning for basic tasks like setting alarms or looking up data about celebrities. But their usefulness will grow as artificial intelligence does.
Current Applications of AI in Marketing
Machine learning is a central part of many marketing solutions, including predictive analytics and marketing automation. Machine learning can automate some processes around data collection and analysis, making it easier for marketers to identify customers’ needs before they realize they have them. In five years, we might look back at 2018 as a turning point for AI in marketing—just imagine what it will be like when you don’t have to worry about keeping your website up-to-date, because Google does it for you! If AI can do that today…well, just think about what else is possible. The future is pretty exciting.
Risks and Concerns with AI in Marketing
Despite these advantages, AI brings with it certain risks and concerns that should be considered by marketers. While companies can collect massive amounts of data on their customers through cookies and smartphones, much of that data is inaccessible to computers due to its state (e.g., unstructured) or volume (e.g., big data). This challenge is expected to be alleviated somewhat by advances in machine learning, deep learning, and natural language processing technologies. But there is still a chance that effective AI solutions will not be developed for years to come.
How to Get Started with AI in Marketing Today
While some marketers believe artificial intelligence (AI) will take over marketing roles by 2022, others say it’s a buzzword that won’t have much impact on their jobs. What are your thoughts? If you think AI is just a passing fad or simply another form of automation, think again: By 2022, leading research firm Tractica predicts AI will be used for 41 percent of customer service interactions and 20 percent of sales. In other words, artificial intelligence has found its way into every part of our lives — why not yours? The key to using AI successfully is understanding what it can do and what it can’t; only then can you start creating an effective strategy. Here are a few tips to get started with AI in marketing today. Start Small: There are many different types of data being tracked by businesses today, including social media data, location data and user behavior data. Instead of thinking about where you want to go with AI all at once, break down your goals into smaller chunks. Focus on how you can use one specific type of data to benefit your business first — don’t jump from social listening straight to predictive modeling without considering whether those two goals align with each other or your business model as a whole. Make Sure Your Data Is High Quality: When tackling any task related to algorithms or models, make sure there is good quality training data available before moving forward with development.
Predictions for the Future of AI in Marketing
Since AI has developed so quickly in recent years, it’s hard to predict what trends will exist five years from now. There are a few things we can be pretty sure about though. First, we’ll see more personalized experiences and predictive tools. While marketing today relies heavily on data, there is still room for improvement. In 2022 or 2023, you might see advertisements based on your previous purchases (which people have gotten used to). We may also see AI marketing research — where bots search through tons of information and deliver relevant results. Of course, these ideas are just speculations. No one really knows what’s going to happen; AI technology keeps advancing at such a rapid pace that anything could happen! Either way, marketers will continue working with AI as long as they can get their hands on new technologies.