AI relies on a continual process of technological learning that improves with experience. The key is to leverage analytics to improve business decisions and internal operations while deepening customer relationships. AI platforms allow retailers to govern price changes, fix stock-outs, decide on the timing and cost of promotions, and make merchandising decisions that lead to more sales. Considering advancements in technology and increasing demands from consumers, there is no way a business can keep up without help from AI.
To better understand just how much of an impact artificial intelligence can have on a business's digital marketing strategies, let's discuss some of the ways this technology can be utilized for a more successful marketing campaign bringing in more customers and making it easier to convert those customers into sales. Businesses are now able to provide certain advertising networks, with Google AdWords and Facebook Ads being the most popular examples, with a few keywords, and the artificial intelligence behind these advertising technologies will then automatically suggest the best keywords to target, based on the ones added by the marketer. In some cases, a simple URL of a website would include popular hundreds to thousands of potential keywords to target as the technology can analyze the content of the URL entered and suggested the best keywords to target for attracting visitors to the website. Many ad networks have already implemented split testing abilities into their artificial technology to help business owners reach more customers without wasting money on advertisements that do not work for them.
The open letter, published this morning by six leading advertising trade groups, is in response to a new macOS feature Apple calls Intelligent Tracking Prevention, or ITP. That renders Apple's 24-hour ad-tracking prevention measures ineffective for those two web behemoths, while mainly harming smaller advertising companies like Adroll and Criteo that manage cookies in the background of thousands of websites. "Put simply, machine-driven cookie choices do not represent user choice; they represent browser-manufacturer choice." But what we do know is that while Apple sees protecting user privacy as a strong differentiator and a great PR move, it doesn't appear to care too much about emboldening Facebook and Google in what is already a dangerously lopsided market, one that will likely see a further consolidation of market power in the hands of the tech industry's biggest titans.
Artificial intelligence, virtual reality, machine learning, interactive video, and mobile multimedia are just a few of the decidedly buzzword-y innovations tantalizing marketers with a promise to capitalise on a growing abundance of consumer data. Underlying these advancements are two less sexy-sounding but crucial catalysts: The marketing and advertising technology industries (sometimes collectively referred to as "MadTech"). With digital technology employment predicted to increase by 6% by 2020, world-renowned universities like the London School of Economics and Political Science (LSE), Oxford and University College London are particularly suitable for students seeking a career in marketing and computer science. Adludio is yet another organisation using cutting-edge technology to take MadTech to unprecedented heights: The company provides "programmatic sensory advertising" and interactive ad units that help brands master mobile strategy.
Hence, it's the actual experience that will justify a higher price point by brands -- through alignment to consumer trends, specific consumer needs, added services and added value. Rather than appealing directly to consumers through branding, advertising and other traditional forms of promotion, CPG firms will have to pass the test of the machines first, addressing the barrier of algorithmically-powered trading. But by creating a platform for consumers, CPG companies can create a stronger and more independent position in relation to the dominant and incumbent retailers connected to the OS of the home, allowing them to take and plug these propositions into different operating systems while keeping their core offering to the consumer. However, as part of the transitional period towards the consolidation of different business models, traditional companies may struggle to leverage the assets they've built over time.
Artificial intelligence can automate the selection of the marketing channels for your campaign based on your objectives and the historical data from your previous campaigns. It also can continuously optimize the selection of these channels for future campaigns based on the results it achieves. AI can automatically identify the best performing placements for any campaign based on historical data, and by running multiple tests for each new campaign on multiple placements. Artificial intelligence can help in each of the areas mentioned above in different ways, such as its ability to find patterns in massive amounts of data, infinite real-time testing, make suggestions for improvement, execute decisions automatically, as well as control spending, optimize budgets and reduce waste.
They talk less often about one of the most profitable, and more mundane, uses for recent improvements in machine learning: boosting ad revenue. A recent research paper from Microsoft's Bing search unit notes that "even a 0.1 percent accuracy improvement in our production would yield hundreds of millions of dollars in additional earnings." Google reported $22.7 billion in ad revenue for its most recent quarter, comprising 87 percent of parent company Alphabet's revenue. Google has reported steady growth in ad revenue for many years; Microsoft has called out strong growth in Bing search ad revenue and in average revenue per search in its past five quarterly earnings releases.
Today, the AI tech ecosystem is awash with narrow AI solutions, cognitive engines built to perform one task well - engines in categories like natural language processing, image recognition and facial detection. Their belief is that the future of AI lies in "orchestrated cognition," the idea that multiple engines can act together in concert vs. existing in silos. Today, the platform uses 70 cognitive engines across the major categories of AI, providing near real-time, accurate analysis of audio and video data for its clients. They are able to unlock data from linear files like radio and TV broadcasts, police bodycam footage and call-center conversations.
Artificial Intelligence (AI) is powering the ad industry's transformation into the ad tech industry. Based on a particular context, we understand that intelligent algorithms take actions (or make decisions) to maximise a defined objective. All of these inputs influence the AI algorithm's decision-making process, so one of the biggest challenges that ad tech companies face when trying to implement AI into their core technology (along with of having the right team of professionals) is to select and add new variables each time to create new patterns, and to train algorithms correctly to generate the best outcomes. The future belongs to them, so choosing the right partner will make a significant difference for the success of your campaigns, helping your brand make better decisions and support to maximise advertising revenue.
Under a new partnership with Google, Walmart will allow shoppers to make purchases through the voice-activated device Google Home, the Google Express app or its website. Shoppers will be able choose from hundreds of thousands of Walmart products through the Google Express website, mobile app or voice-activated Google Home. Executives from Walmart say the retailer will have more items available than any other on Google Express and offer a personalized version of the service by linking their Walmart account to Google Express. In February, Google Express integrated Google Home, enabling shoppers to use the Assistant on the voice-activated device just as they might use "Alexa'' on Amazon's Echo speaker.