Marketers see great potential value in using artificial intelligence (AI) to support the use case of recommending highly targeted content to users in real time. That use case scored the highest among 49 use cases presented to marketers in the 2021 State of Marketing AI report by Drift and the Marketing Artificial Intelligence Institute. That use case scored a 3.96, putting it on the cusp of "high value" (4.0), with 5.0 being "transformative." "Most websites you go to today for businesses, a human is writing the rules to say which content to recommend," Paul Roetzer, CEO and founder of the Marketing Artificial Intelligence Institute, told CMSWire in a CX Decoded Podcast. "What are the related articles? There is some basic tagging system for if they read this, then read that. Most of them are human-powered. They don't have a Netflix or a Spotify type algorithm that's actually learning preferences, knows the last 15 articles someone read, and how far along he got into them. Therein lies potential, however it's something marketers and customer experience professionals remain hopeful about: 54% of them told CMSWire researchers in the State of Digital Customer Experience 2021 report they see AI having significant impacts on digital customer experience over the next two to five years. And most of them see "gaining actionable customer insights" (27%) as the area where they see the most potential. Roetzer said it is hard to find really good solutions to do this out-of-the-box. Noz Urbina of Urbina Consulting agreed, calling the technology nascent. The bigger question for marketers beyond what kind of tools are out there is do we have the data to support the use case, according to Roetzer. And do we have a strong foundation of metadata, content tagging and content taxonomies, according to Urbina. "You need enough data, for one," Roetzer said. "Sometimes the problem is smaller data, not necessarily the cost.
It was 2011 and Watson, a then-new IBM supercomputer, faced off against 74-time "Jeopardy!" Watson, a question-answering artificial intelligence system, would buzz in within a second of host Alex Trebek asking a question, giving what the AI determined to be the most probable answer. By the end of the game, Watson had dominated the show's all-time greats by more than $50,000. By late 2016, Roetzer had become so obsessed by AI's potential in marketing that he founded the Marketing Artificial Intelligence Institute, a group with the mission of making AI approachable and actionable for modern marketers. Roetzer still runs his company, PR 20/20, but he says that his AI group now takes nearly all his time.
When IBM Watson's wowed the world with its 2011 win against two of Jeopardy's greatest champions, Paul Roetzer was in Cleveland wondering what if that machine learning technology was applied to marketing. "What if instead of me or any marketing strategist trying to figure out how to get the next 500 leads, a machine was there to assist me, and to spit out ideas of how I could achieve that goal based on probability of success?," "I didn't know at the time what AI was really or if this was even possible. But it started this journey for me of discovery." Roetzer is the founder and CEO of PR 20/20, and founder of the Marketing Artificial Intelligence Institute. In this week's Rethink Marketing episode, Act-On CMO Michelle Huff has a conversation with Roetzer about what marketers need to know about Artificial Intelligence.
The featured guest for episode 148 is Paul Roetzer, Founder & CEO of PR 20/20, a well-known marketing agency specializing in inbound marketing strategies. Paul is the author of two popular books: The Marketing Agency Blueprint and The Marketing Performance Blueprint. In November 2016, Paul launched the Marketing Artificial Intelligence Institute (MAII). On this episode, we dive deep into what MAII is, why it exists, and why you should care. If you're not familiar with Artificial Intelligence (AI), Paul describes it as "the umbrella of the tools and technologies that are designed to make machines smarter."
Artificial intelligence is a topic that evokes many opinions and predictions. I have heard people express concern that AI will take jobs away from humans and an overall fear of the technology. However, I have also heard countless others, including Paul Roetzer, explain how AI will enhance human knowledge and capabilities. After attending Marketing Artificial Intelligence Conference (MAICON) this year, I side with the latter. In July, hundreds of marketers gathered in Cleveland, Ohio at MAICON, to better understand AI and how it will impact them now and in the future.