Artificial intelligence (AI) seems to be trending nowadays. You see it being talked about everywhere, from countless references in the entertainment industry to documentaries and commentaries from leading scientists.
This much press and public interest for a (relatively) new technology is not common, but with the extent that AI is being used right now, it’s definitely not surprising.
What is artificial intelligence?
Artificial intelligence is the ability of a machine to think and act like a human being. It is mostly portrayed as hostile robots in science fiction movies, but the reality is far from the truth.
AI is already here, and while widespread use of robots isn’t common at this point in time, the use of AI certainly is. We see this daily when using Facebook’s auto suggestions when it comes to who to tag in photos and Siri’s responses to your questions. We can even see it when using Google products; our email, calendar, photos, among others, are all synced by AI.
A very important innovation in artificial intelligence is machine learning. It is the ability of the machine to improve and learn from massive amounts of data as it gains experience. As a human would improve efficiency and develop a greater sense of productivity with time, machine learning also allows the AI to learn from themselves and others, eventually being able to act in their own capacity.
How will this influence the marketing landscape?
It is understood that artificial intelligence will soon become a major part of our everyday lives. This is a view shared not only by tech enthusiasts and scientists but also by the general population.
According to a DemandBase study done in 2016, for example, 80 percent of all marketing executives predict artificial intelligence will revolutionize the marketing industry by 2020.
The idea of such a fast pace in development shouldn’t come as a shock; as it is right now, marketing is already becoming more and more reliant on AI to handle data efficiently that will make their campaigns produce better results.
Once dependent on human knowledge and skills, marketing is rapidly embracing the use of AI in data processing, from understanding of the data itself, to making decisions as to the use of the data and interacting with customers. Needless to say, there has never been a better time for AI to move into the world of marketing.
What does this mean for marketers? Will this new era serve as motivation for us marketers to become more productive? Or could this be the end of traditional marketing as we know it?
Artificial intelligence is currently influencing marketing practices in a variety of ways. Below you’ll find three areas where marketing has changed drastically due to AI.
Artificial intelligence as a concept isn’t complete without reference to machine learning and automation. In terms of cutting through the heavy-lifting of data processing, nothing beats the speed and accuracy of an AI.
Artificial intelligence, unlike humans, can sort through and analyze unbelievably large amounts of data with great efficiency and at lightning fast speeds. This translates to huge savings for marketers and small business owners, and increased sales as the results are more accurate than any human’s would be.
A Merger of the Worlds of Advertising and Science
Artificial intelligence, aside from gathering and processing data, can make predictions, too, based on existing data patterns. This helps marketers in making more informed decisions especially when it comes to marketing campaigns.
In fact, marketing experts believe that one of the biggest impact of AI in advertising is the creation of better ads. AI can predict the likelihood of a campaign’s success or failure even prior to implementation. This prediction is objective and data-based, not reliant on the marketers’ biases and devoid of any possibility of human error.
This predictive quality helps marketers create a targeted campaign and save time and money as there will be no more endless edits, reworks, and A/B tests.
Personalization of the Customer Experience
Every customer’s preferences, habits, and experiences are unique. Keeping up with them manually is an exercise in futility.
Fortunately, regardless of how many customers (and their data) there are, AI can easily keep up. It can collect, analyze, and interpret these profiles in a very short time, and use this useful information to predict customer behavior.
You can easily see this in the recommendation systems of some platforms, e.g., Amazon, where AI learns a user’s preferences and promotes content related to those interests. This gives the customer a good buying experience, as they don’t need to do anything else to search for related products.
For the marketer and small business owner, this is also great, as pitching the right product to the right customers no longer needs any additional effort.
It also leads to increased sales, as AI’s marketplace suggestions, again as seen in Amazon, influence consumers to purchase products that they had no intentions on buying in the first place when they initially logged into the site.
Embrace the Impact of Artificial Intelligence
The impact of artificial intelligence on marketing is already felt and will continue to be felt in the foreseeable future. At this point, nearly every industry is experiencing incredible changes due to the technological advancements of AI.
The automotive industry, for example, is being shaken up by self-driving cars led by Tesla. Bookmark is turning website building on its head with personalized websites produced in less than five minutes, and of course, the list goes on.
Indeed, when it comes to artificial intelligence in the marketing world, it will only get better from here on. AI will continue to improve and eventually provide the most laser focused suggestions to its customers all while providing an experience that will result in more sales.
All that is left for marketers is to adjust our line of thinking in terms of how we go about our business and the tools we use when doing so. AI is already expanding its reach into other industries by way of chatbots, virtual assistants, and website building. Now, it’s our job to stay well informed and ahead of the curve in order to learn how we can better our businesses and work hand in hand with AI.
David Kosmayer is CEO and Founder of Bookmark, an AI-powered website builder disrupting the web design industry. Kosmayer created his first company at 22 just coming out of college. Marketing Extensions Inc., an online affiliate and marketing agency, was born from the basement of his parent’s home. This company grew under his leadership into a 55-person team, topping $60M in revenue in less than a decade. Kosmayer is highly focused, dedicated and passionate about building successful companies.