5 Common Misconceptions Marketers Have About AI

Artificial intelligence (AI) is fast becoming an indispensable marketing tool. Equipped with immense computing power, AI empowers marketers to sort through and analyze vast amounts of customer data housed in companies' point of sale, CRM and loyalty systems – and even external sources such as consumers' social media accounts – to better understand, connect with and engage customers. In fact, a recent survey by Weber Shandwick found that 55 percent of CMOs expect AI to have an even greater impact on marketing than social media has. AI allows marketers to gain valuable insight into their current and prospective customers, suggest offers and promotions that are uniquely relevant to each customer's preferences and behaviors and improve the overall customer journey – helping to increase conversions, close sales faster and build loyal customers. While marketers understand that AI can help them more quickly identify consumers' wants and needs at the individual level, many still have major misconceptions about the implementation and role of AI in their organizations.