For this weeks blog upload, I would like to speak more about how Artificial Intelligence is becoming more and more frequent in out lives. Today, Artificial Intelligence is being used more and more frequently in marketing. Artificial Intelligence in marketing is the process of utilising data models, mathematics and algorithms to generate insights that can be used by marketers. Marketers will use Artificial Intelligence derives insights to guide future decisions about campaigning spending, strategy and content topics. Artificial Intelligence in marketing can be used in planning, production, personalisation, promotion and performance.
Over the last 5 years, jobs requiring Artificial Intelligence have increased by 450%. According to Forbes, top-performing companies are more than twice as likely to be using AI for marketing (28% vs. 12%). According to adverity.com, in just 2 years, chatbots will take over 85% of customer service interactions. In comparison, Artificial Intelligence handles about 30% of it right now. Some website examples that use customer service chatbots are Apple, LifeStyle Sports and Spotify.
Some Pros and Cons of Artificial Intelligence in marketing are: Pros- Data is analysed faster as Artificial Intelligence programmes can analyse complex data sets faster than a human. However, increased speed does not mean greater efficiency. As a result, businesses could launch more effective campaigns faster and deliver a higher return on investment at a lower cost. Pros- The personalisation of products is a pro of Artificial Intelligence in marketing and can include identifying possible potential customers based on data such as purchase history, demographics, location, etc. It may include tracking and customer data with the products themselves. Cons- Consumers don’t always like the idea of customer service chatbots or speaking to automated computers on the phone. Chatbots should be used with care based on your target audience and supported by a live human as often as possible. Cons- Artificial Intelligence in marketing can cause fewer jobs as you may not need to employ as big of staff team. However, even though Artificial Intelligence has cost some people their jobs, in the long run, it has and will create more jobs and may save the business money.
In the future, Artificial Intelligence will mainly affect targeting, personalisation and programmatic advertising and surprisingly, instead of eliminating jobs, experts predict that Artificial Intelligence will generate 2.3 million new employment opportunities, although many do feel anxious about machines potentially replacing their jobs whereas, others have began to worry that Artificial Intelligence powered systems (e.g. Alexa or the ring doorbell), are spying and gathering data about their new campaign ideas.
For my next blog, I will be speaking more about average items in our homes, converting into Artificial Intelligence items.
Digital Marketing 