In another sign that the future of work is already here, JPMorgan Chase has signed a five-year deal with a software startup that uses artificial intelligence to write marketing copy, following a successful pilot with the technology. In tests, JPMorgan Chase found that Persado's machine-learning tool crafted better ad copy than its own writers could muster, as measured by the higher click rates--more than double in some case--on digital ads for Chase cards and mortgages. In one such matchup, an ad written by a human read, "Access cash from the equity in your home." The more successful version, from Persado, read, "It's true--You can unlock cash from the equity in your home." "Persado's technology is incredibly promising," Kristin Lemkau, chief marketing officer at JPMorgan Chase, said in a statement.
As we step into 2017, we find ourselves face to face with that familiar sensation that often accompanies a change. It's equal parts uncertainty, hope, energy, and anxiety, a combination of the feeling of trying to fall asleep before your birthday as a child, and trying to fall asleep before a big presentation as a business professional. Late last year, while I was diving deep into research for my machine learning series, I found myself faced with the questions that many marketers have been asking themselves, especially as we head into what will almost certainly be a big year for artificial intelligence. What does this actually mean for me and my company? Is my career at stake?
Despite rising calls for more regulation of how companies like Google, Amazon, Facebook, and the platforms that run on them harvest, manage, and deploy consumer data, the actual use of artificial intelligence and the data that powers it in marketing remains in the early stages, a Forrester report outlines. The report, Artificial Intelligence Will Spark A Real Marketing Renaissance, notes that Only 36 percent of global marketing decision makers say they use AI. Meanwhile, 42 percent of marketers don't see the need to use AI as another 41 percent say they don't know how to use it. Even when they do, 38 percent concede they lack the resources to make the most of AI tools. As such, "few brands -- even those in media, insurance, and retail -- have a mature AI approach," concludes the report's main author, Forrester VP and principal analyst Thomas Husson.
As a kid watching Star Trek, I was thrilled by this machine that could deliver food on demand. My childhood sweet tooth was delighted with the immediate gratification I witnessed on the Starship Enterprise. If only I had a replicator, I could have candy bars, chocolate cake, and hot cocoa whenever I wanted. Oh, to be a space traveler living in the world of advanced computers, bubble-light transportation, and holographic people. What seemed so far-fetched in my childhood doesn't seem that much of a stretch today.
'Artificial Intelligence Will Spark A Real Marketing Renaissance', a new report from Forrester, calls on CMOs to embrace the technology early. Vice president and principal analyst at Forrester Thomas Husson is advising marketers to foster a relationship with AI now, in anticipation of an industry overhaul. According to the report, since AI-powered marketing will bring a new age of "hyperpersonalised" experiences at scale, brands should be revising strategies now to reach for a "one-to-one marketing dream." According to Husson, marketing leaders are being overwhelmed with multiple competing objectives, in a technology environment that is "evolving rapidly and in dramatic fashion." According to Husson, parts of the industry have questioned the security of AI infiltrating the industry.