As soon as Artificial Intelligence (AI) entered the scene, it became a hot topic. Businesses are widely embracing AI technologies such as Machine Learning, which simplifies the workflow for marketers in so many ways and offer a myriad of benefits. Many hotel chains, e-commerce companies, airlines, and brick-and-mortar stores didn't think twice about whether to use AI to provide better service to their customers while increasing revenue. Face recognition, Voice assistants like Siri, Alexa, and Cortana, smart selfies, and Augmented Reality – the ways in which AI is used to offer innovative features and easy solutions for everyday tasks has revolutionized the digital world and shaped web and mobile markets. Amazon and Netflix are already leveraging Machine Learning to market to specific customers.
The digital advancements made in the past few years have been nothing short of phenomenal, more so the path-breaking advancements in the area of artificial intelligence (AI). It offers exceptional opportunities particularly in digital marketing while irrefutably revolutionizing and propelling the industry. AI is the ability of a computer or computer-enabled robotic systems to process massive amounts of in-depth data and produce outcomes similar to the thought processes of humans in learning, analysing, decision making, and problem solving. Hence AI has enabled marketers to comprehend vast data to gain valuable consumer insights, and in turn improve digital marketing strategies. The applications of AI are essentially limitless, and the field of computer science is on a stark ascendance.
The expression, "Marketers are data rich and insight poor" is more true today than ever. Marketers all over the world are working to optimize marketing operations and effectiveness using their abundance of data. Many are turning to tools and platforms powered by artificial intelligence and machine learning. AI promises to make sense of all the dark data companies are sitting on as well as structured and unstructured data online to surface insights about customer behaviors, opportunistic content and emotional triggers to inspire conversions. In an age of too many choices, increased competition for customer attention requires every advantage to optimize for reach, engagement and conversion.
The ultimate role of AI in marketing is to add value and purpose to both brands and customers. AI is a great tool that can augment the idea and capabilities of human marketers. According to the 2017 State of Inbound Report by HubSpot, generating traffic and leads and proving RoI, and lack of budget for marketing activities are the leading challenges that marketers face even today. Data overload from multiple sources, limited resources and time to implement activities, a crowded marketplace and increasing customer expectations make the job all the more difficult. Traditional marketing campaigns are far less efficient in gaining and retaining a customer.