The Application of Artificial Intelligence (AI) in Marketing
Artificial Intelligence, or AI, is the process of utilizing data to generate insights to improve performance and efficiency. The marketing industry is in the early stages of adopting AI, but it is poised to have a huge impact on marketing in the coming years.
To give you an idea of just how big of an impact AI will have, Google CEO, Sundar Pichai said, “AI is probably the most important thing humanity has ever worked on. I think of it as something more profound than electricity or fire.”1
It’s anticipated that a majority of what we do every day will be intelligently automated to some degree in the next three to five years. However, human oversight will still be needed to establish objectives and intervene when unwanted biases or unintended consequences arise. There will always be a need for personal intervention, and actual people, to manage Artificial Intelligence because AI cannot empathize, experience life, or have relationships.
In this article, we’ll take a closer look at some of the things AI can do and how you can begin to apply it in your marketing programs.
Examples of Applied Artificial Intelligence
Most likely, you are already using AI, maybe even in more ways than you realize. Google has incorporated it into many of its programs. For example, if you use Gmail, you may have noticed the automatic responses, or smart replies, that are populated towards the bottom of an email you are drafting. You can quickly reply “Yes, thanks.” or “Looks good to me.” with the quick click of a button. Smart replies are based on your previous replies and attempt to parallel your personal writing style, so the responses will seem genuine. Google also uses AI with predictive searches, Google Play music recommendations and finding the quickest route to where you want to go with Google Maps.2
Another example of AI you may have experienced might include interactions with Chatbots, or Virtual Agents. This technology recognizes words and phrases in chats to deliver helpful content to customers who have common questions. Chatbots automate routine customer service tasks like booking appointments or answering billing questions with natural language, so it seems like you’re talking to a real person on the other end. Sometimes you are, and sometimes you’re not. The companies that do a good job leveraging Chatbots make it difficult to tell.2
A final example of AI you may have likely experienced includes your time shopping on Amazon. Has Amazon ever recommended a product to you that you decided to go ahead and purchase? Amazon didn’t get lucky, it leveraged AI to recommend a product you had a high likelihood of being interested in.
What You Need to Know about Applying AI in Marketing
Artificial Intelligence can automate repetitive tasks, reduce costs and enhance what we do. Customers today are demanding greater personalization. Not only does AI make marketing technology smarter, but it can make brands seem more human with greater levels of personalization.
Furthermore, AI can drive revenue by improving our decision making. We can move quickly and make sound decisions based on data, rather than an educated guess or gut feeling. Adopting AI earlier rather than later can be a great competitive advantage for your company.
What is Machine Learning and How is it Applied in AI?
First, it’s important to know that machine learning is an important component of Artificial Intelligence. Machine learning is an application of AI that provides systems the ability to automatically learn and improve from experience without needing to be explicitly programmed. Machine learning uses an evolving set of algorithms or rules to complete a task. It can modify the rules and improve results when exposed to more data without human intervention required.
Specifically, AI and machine learning can help companies win ad auctions, resulting in more conversions at a lower CPC (cost per conversion). It can also show content that will keep visitors engaged on your platform longer or drive the highest level of engagement actions. AI can also be used to monitor competitors’ activities in the market, categorize and prioritize data and automatically generate performance reports.
Applying Artificial Intelligence Tools and Technologies
There are many tools available to help you leverage AI to grow your business. Here are a few AI technologies along with information about what they can do and the value they can potentially provide.
- Competitive Insights. This technology monitors competitors’ activities in the market. It can track changes in pricing, product launches and positioning and messaging changes. It monitors hundreds of data types across millions of sources. In addition, it can categorize and prioritize data.
- Content Intelligence. This technology analyzes topics and content based on past performance and competitive content. It can also identify content topics that there is interest in but that may not be covered well currently.
- Natural Language Generation. This technology converts text into data, analyzes it and then uses insights to communicate ideas in a clear way with natural language. Natural language generation can be used to create content more efficiently.
- Natural Language Processing. This technology focuses on interactions between human languages and computers. Through text analytics and machine learning, computers are programmed to process and analyze large amounts of natural language data.
- Image Recognition. This technology analyzes every component of an image, providing several additional data points that can then be used in contextual advertising or search.
- Marketing Automation. This technology utilizes AI through automated customer segmentation, customer data integration and smart email campaigns based on interest and performance.3
How to get started with AI in your Marketing Programs
Simply stated, AI can help you and your team do what you do on a daily basis faster, better and smarter. Getting started with AI may seem intimidating, but it doesn’t have to be. You may find it helpful to break down Artificial Intelligence applications into specific use cases. Think about some of the things you and your team do repetitively and that take up a lot of time. With that in mind, you can begin to look into and zero in on AI applications that will have the most impact in your business, allowing your department to run more efficiently and effectively.
Resources:
1. Google CEO: A.I. is more important than fire or electricity – CNBC
2. 16 Examples of Artificial Intelligence (AI) in Your Everyday Life – The Manifest
3. Top 15 Hot Artificial Intelligence Technologies – edureka!
