Have you ever noticed that you continue to come across the “sports shoes” you were looking for a long time ago all over the internet? Welcome to the digital age my friend!
Gone are the days when consumer data was used only by advertising agencies to improve their performance. Today, AI and ML algorithms rule the world and pretty much direct our life choices. Therefore, it is no wonder that for every industry, data has become the new gold.
From Metaverse to ChatGPT, we have all witnessed the power of Artificial Intelligence. From Gaming to Banking to Finance, AI is revolutionising every sector. According to Forbes, companies like IBM, Optum, and Hitachi are putting in a lot of effort to use “population health analytics” to improve the accuracy of stroke and heart attack predictions.
But there’s one industry that this breakthrough technology has taken by storm. Marketing! That’s right. Not only do AI and ML algorithms dictate the present of Marketing but they very much control the future of marketing.
The big question that’s in front of us is “will AI overtake all the jobs in the near future?” And if so, why are humans trying to transform and imbed EQ in technology? Let’s find out!
What is Artificial Intelligence?
Let’s address the elephant in the room, Artificial Intelligence or AI. According to Google’s definition, Artificial Intelligence is “the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.”
Simply put, Artificial Intelligence is like Dr. Sheldon Cooper (from The Big Bang Theory); a “know-it-all”.
Until quite recently, businesses used the term “artificial intelligence” to refer to software that is capable of learning and improving on the job without human input. But today, the sphere of AI has grown even wider. Now, these algorithms can even assist you with tasks that call for thought, emotion, and judgement.
How AI is transforming the Marketing Sector?
Studies have shown that, in the year 2019, more than 88% of marketers adopted AI and the results have been exhilarating. According to Statista, currently, the most effective digital marketing technique is Artificial Intelligence and Machine Learning.
But it does not end there. One of the contributing factors to these staggeringly high statistics is the inability of humans to analyse big data. Imagine, Facebook or Google start analysing the day-to-day trends and habits of the entire population of over 8 billion individuals. Clearly, that’s not possible. And that’s where AI steps in, to understand customer behaviour and offer customised solutions.
Before online advertising, companies spent thousands and thousands of money on TV, radio, and newspaper advertisements. Although they were aware of the fact that only a small percentage of people will see these commercials and even smaller would become their “potential customers” let alone customers. Indubitably, it was an incredibly ineffective method, businesses had no choice but to do it if they wanted to establish themselves as market leaders.
The first breakthrough in the marketing industry was when Amazon introduced its “recommendation engine technology” and Facebook and Google aligned their programming with Machine Learning through “targeted advertising platforms”. And today, as we see every e-commerce platform is following its footsteps.
What are Some of the AI Tools Used by Marketers?
Now, that we have a hang of what AI is and how useful it can be, let’s look at some of the tools that are used by marketers:
You may automate your email outreach with Smartwriter.ai. This AI technology creates customised emails with a unique subject line to grab clients’ attention. Additionally, it creates product titles and descriptions for various products.
Optimove is a consumer-based data platform with AI leading the marketing. In order to present a consolidated picture of the different kinds of information available over a single dashboard, it assists in collecting data from various sources. It helps the companies to decide on marketing strategies.
Its tool, Optibot, looks into all the consumer data available to it so as to gather useful insights. For example, it can offer you valuable insights on which ads to stop running based to curb the losses or which clients must receive corporate communication.
InstaText is an online AI-powered writing tool. It not only helps you perform basic tasks like grammar and spell checks but goes one step further and enhances the readability of your content by rewriting sentences. It guarantees that the tone and style of the writer are maintained despite the rewriting.
Brands can monitor both positive and negative social media comments about their business using Brand24, an AI social media monitoring platform. Along with monitoring brand reputation, it also enables us to evaluate marketing initiatives and deal with any problems before they go out of hand.
5. Surfer SEO
SEO Surfer is an AI online tool for optimising blog posts, articles, and other content pieces. It is designed for managing technical SEO. Moreover, it has the ability to analyse content using over 500 ranking criteria and can assess keywords using Google’s BERT approach.
And the list goes on.
The Impact of AI on Marketing
Every news channel, every social media platform, and almost all the content creators on the internet are talking about AI since the launch of ChatGPT. Some are talking about its pros and cons, some have made a business out of it and others have completely disregarded its use. No doubt, AI has entered all industries and the marketing industry is no less. But is it safe to say that AI will take over all jobs in the near future?
The CEO of the 123Internet, a Digital Marketing Agency, said “We’ve been using AI tools for a while now, in particular automatically checking website designs in hundreds of screen and browser types, this speeds up our design and development process.”
This is a perfect example to reflect that AI has touched marketing to its roots. It is also suspected that it will be able to detect at which stage the customer is stuck on the marketing funnel in the near future.
With the increase in the appetite for online content, social media, and online advertising, AI has all the more reason to intervene. Presently, it is offering a hand by automating and scheduling content. Ever since the launch of ChatGPT, AI can even generate content ideas along with a well-structured piece of content.
How can Marketers Leverage AI?
After the launch of free ChatGPT, Sundar Pichai declared code red within the company. It has definitely threatened jobs but will it overtake the charge soon and create large-scale unemployment worldwide? Or will we adapt to it? Let’s find out!
The world was stunned when OpenAI launched DALL-E 2 which could produce phenomenal graphics with a small text input. This revolutionised the landscape of the graphic design industry. Other tools like Stable Diffusion and Midjourney also do the same. Does it call for no human input? Indeed, not! However much, AI has evolved, but it still lacks empathy and complex feelings. Studies also say that since these technologies are created by humans, they might be biased. And that’s where businesses can leverage it.
Ever since the launch of ChatGPT, Google has been trying to create a more competitive model. Hence, there are rising clues that it will launch a “text-to-video AI model”. Additionally, OpenAI has already announced GPT-4 which is based on multimodal capabilities and will be able to simultaneously operate across images, texts, and audio. This will help in creating new business models at a much faster rate. The AI new tool will give businesses a rough blueprint that they can tweak as per their need, consumer behaviour, and the latest industry trends.
Another awaited AI is Generative AI. Among this newly introduced niche, AI Generative Music is the most popular. It will establish itself as a standard in commercial jingles, background music for videos, and other media that could also contribute to this growth in marketing. Moreover, generative imagery has the potential to assist in producing high-quality pictures for social media posts, logos, and other purposes.
Natural Language Processing already enables AI-powered digital assistants and chatbots to have human-like conversations, respond to ever-sophisticated queries, and tailor interactions based on user intent. Companies soon will be able to provide clients with personalised experiences and solutions. AI can be used to predict consumer wants and expectations more accurately using specific client data which would speed up handling and assist in spotting emerging trends.
Similarly, other sectors can do the following to make the most of it:
- Identify the Areas of Business That Can Gain Most Advantage
- Make Sure that You Have a Strong Strategy and Advanced Data Set
- Leverage Data to Accelerate the Decision Making Process
- Automate Tasks
- Find Processes which are most Consistent and Repeatable
and much more.
Is Marketing Possible without Humans?
As more and more studies surface on the internet, it is highly plausible that AI will replace humans in the future. And perhaps in some corner of the world, some brilliant engineer might have achieved what we believe will come to life 10 years from now. Take ChatGPT as an example, it spread like wildfire and so far it has the fastest-growing consumer base. One fine evening, you are generating ideas and the next day OpenAI launched this technology. Wouldn’t you feel threatened?
Well, it might be a story for some other day. But this debate will go on until one day we see AI taking over humans.
Jagpreet is a Digital Marketing Expert and EdTech enthusiast. Having a total experience of over 11 years, he has been working in the Education industry for the past 6 years. Over the years, Jagpreet has mastered multiple trades such as Web Development, SEO, IT, Content Writing, Graphic Designing, etc. He is an extremely tech-savvy individual who loves gaming.