Although the future effects of machine learning for digital marketers are not yet fully foreseeable, they are already having an impact on the digital marketing landscape. Machine Learning Tools are able to analyze extremely large amounts of data and provide understandable analysis or results that marketing teams can use to their advantage. Companies that already use ML tools have more time to focus on other areas and use the knowledge gained to their advantage. The way machine learning is used in digital marketing practices helps to broaden the understanding of their target consumers and to foster and enhance the interaction with them. In 2017, IDC Future Scapes estimated that 75% of the development teams used some types of AI features in at least one service or application.
Do you know why your CMO needs artificial intelligence NOW? Because: CMOs must show measurable financial results for the budget they invested! Wonder how AI relates to financial results? I'm not surprised since the answer may not be obvious. With an ever-increasing number of smart devices, apps and methods, consumers have more and more ways to get information and create content digitally. In the process, they create an explosion of data for marketers to track and analyze.
If you're building a business, there are different aspects you need to improve to get results -and with the current rate of technological advances and digital adoption, you need all the help you can get to improve these results. In this blog post, we're going to be talking about artificial intelligence (AI). More specifically, how to leverage AI to grow your business and 5 AI-powered tools that you need to get for your business. You've probably heard of all the doom stories of how AI could get out of control and become our enemies. But forget that for a moment and look at it in another direction.
The prospects of what artificial intelligence (AI) can do for marketing and other business initiatives is well-documented. McKinsey & Company, for instance, reported in a study that AI improved on traditional analytics techniques in 69 percent of potential use cases. The real challenge is how to actually implement AI in your marketing processes and where you begin. Marketers are asking that question over and over, according to William Ammerman, executive VP of Engaged Media. "That's their first question: what do I do now?"
This Brisbane AI startup claims to be able to predict ad creative success on various platforms with 82.4% certainty. Junction AI, artificial intelligence start-up coming out of Brisbane and Austin, Texas claims to have developed a proprietary machine learning platform that takes the guesswork out of selecting creative and copy for Google Ads, social media ads and web promotions. Ostensibly, marketers will be able to drag and drop their images and text onto the Junction AI dashboard and receive a percentage score of the probability that their promotion will convert a certain target audience. The startup says marketers, agencies and business owners can expect to predict the success of digital advertising with a confidence interval of 82.4%. The platform is currently in pre-release testing and proof trials with 12 agencies and brands in the US and Canada, with tests in the Australian market to begin soon.
As fans of Blade Runner and The Terminator can testify, AI and particularly AI disaster scenarios are a subject most people can't get enough of. Therefore, when AI technology and investment began to grow, it quickly caught the public's imagination. The problem is that the technology hasn't kept pace. The resulting gap between the perception and the reality has led us to enter what the Gartner Hype Cycle calls'the trough of disillusionment' with AI. This is especially apparent in the marketing industry, where, for all the talk of AI at industry events and in the media, only 27% of marketers in the UK are actually using it in their jobs.
Artificial intelligence (AI) has become an integral part of many industries, including marketing. In numerous conducts, AI is already swaying the digital marketing industry, and content marketing is no exception. There is plenty more to come in the future. You can expect numerous AI-based alterations and improvements in the online marketing industry. In 2017, Toyota offered an insight into Concept-I – their version of the future where astonishingly, driving a car is still enjoyable.
With the latest advances in technology, you can tap into a massive audience using all sorts of online and offline channels. Without the right tools, it's nearly impossible to figure out how and where to focus your marketing efforts. Automation makes marketing a lot less complex and exhausting. Implementing machine learning technologies alongside your marketing solutions will help you fully understand which customers respond to which techniques – emails, free e-books, Facebook ads, etc. Additionally, it enables you to deliver a more personalized user experience.
Several years ago, a trio of entrepreneurs, Peter Muzzonigro, Johnny Wong, and Bryan Baum -- the last of whom sold his first two companies (Blue Vision Labs and Represent.com) After spending the better part of months developing a solution -- Panoramic -- and quietly launching it in 2018, they embarked on an ambitious customer acquisition strategy, which netted them the business of brands including Sweetgreen, Sony Home Entertainment, TruConnect, MGM, Blumhouse Productions, and Cha Cha Matcha. Panoramic today emerged from stealth with $35 million in funding from TPG Growth's Affinity Group and others, which Muzzonigro said will be used to grow existing markets (chiefly entertainment, ecommerce, technology, quick-service restaurants, and digital media agencies), deepen brand and agency partnerships, and invest in AI-powered solutions designed for marketing analytics. "Marketers were expected to map and model their own data -- effectively needing to understand how to code to understand the value of their data," said Muzzonigro. "Panoramic solves that problem by providing marketers with a specially built platform that requires no coding and allows time-to-value to occur in days or weeks versus months." Panoramic's approach combines automation with the domain knowledge of in-house data scientists and analysts, enabling marketers to build customized and holistic dashboards for data analysis, benchmarking, and more.