How will AI be used in marketing
Hello! Thanks for your question about the uses of Artificial Intelligence in marketing. The most useful sources to answer your question are articles that explain how AI can be applied to marketing today and future applications of AI in marketing. The short version is that I've found a list of sources that present the ways AI can be or is already being used for marketing purposes. Below you will find a deep dive of my findings.
I’ve searched exhaustively through industry reports, trusted media sites, user forums and review sites to dig out authentic data. After an extensive search I found the data that represents both ways in which it is being used now, and projections of ways in which AI (not limited to machine learning) could be used in the future. Concentrating on the global data, I excluded sources that were focused on technology-heavy descriptions of AI in marketing.
CURRENT USES OF ARTIFICIAL INTELLIGENCE IN MARKETING
AI will be mainstreaming by early 2020. Advertisers and e-commerce businesses have the highest potential gain from machine learning because of the ease of measurement and quick feedback needed to train and improve machine learning algorithms. The most profitable area of AI in marketing is customer segmentation.
Uses of AI in marketing are to:
• Attract visitors through AI generated content and programmatic media buying.
• Convert visitors to customers e.g. Web & App personalization and chat bots.
• Engage customers through predictive customer service and marketing automation
The companies that are using AI in marketing are:
• Century link — The Conversica AI, a virtual assistant named Angie, sends about 30,000 emails a month and interprets the responses to determine who is a hot lead.
• RapidMiner — The Drift bot conducts about a thousand chats per month. It resolves about two-thirds of customer inquiries"
• Epson America — The Drift bot now conducts about a thousand chats per month. It resolves about two-thirds of customer inquiries.
FUTURE USES OF AI IN MARKETING ON DIGITAL MEDIA AND RETAIL
• Customer segmentation to integrate a wide range of customer data derived from multiple digital and physical channels. It uses the data to analyze and predict customer behavior.
• Image recognition — this can be done by using machine vision to search products.
• Retail virtual agents — this feature can be used to build a more personal relationship with customers.
• Smart content — in future algorithms may be able to generate more complex content, using customer data to target individual users and provide them with more personalized content.
FUTURE TRENDS OF AI IN MARKETING
• 20% of business content will come from AI and 75% of developer teams will include AI functionality in one or more applications by 2018
• 75% of developer teams will use AI technology in one or more business applications or services by 2018
• Voice recognition and response solutions are the most widely used AI technologies used by 32% of consumers
• Machine learning is the second most widely used technology among enterprise organizations at 24%, followed by virtual personal assistants at 15%
The “marketing conversation” will become a human-machine conversation. AI will accelerate marketing and sales. It will handle the mechanical aspects, algorithm development will become a commodity and data will become the key differentiator. The Link Graph will be replaced by the Engagement Graph. AI-based tools will automate the searching process and companies will use AI to explore possibilities of creating a multi-sensory communication. It will be taking over a larger chunk of content creation process while actual customer journey will be tailored to the individual through machines.
Some AI predictions by marketing experts are as follows:
• Marketing will become data science to help marketers understand their actions/campaigns.
• AI will cut through the noise to better target messages
• Lookalike modeling and lead scoring will get a lot smarter
• It will be used to specify which channels work and which don’t
• Marketing jobs will become way more human
• AI will enable hyper-personalized communications and will eliminate manual communications & processes.
• It will predict how customers want to interact with your brand
INFLUENCE OF AI IN MARKETING IN FUTURE
• Marketing will be more visual e.g. accurate image search
• Automation will be getting more prominent
• Customer satisfaction e.g. the right product for right people
• Algorithm development will be accelerated
• Connect with customers — caters individual needs
To wrap it up, from customer segmentation to virtual agents, artificial intelligence is reshaping retail marketing. Marketing will become data science as AI will cut through the noise.
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