If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
We live in a world that is becoming more personalized every day. Consumers have come to expect experiences that are tailored for them -- especially when it comes to engaging with brands. When you open your Uber app, it now suggests your home address; online shopping is increasingly personalized, and, of course, so is advertising. You expect to see ads that reflect your interests and buying patterns and, in fact, are more likely to engage with those ads.We have artificial intelligence (AI) to thank for our increasingly personalized world. As the demand for personalization increases, so too does the buzz around AI. AI is a term that is becoming ubiquitous -- and potentially overused -- as an umbrella term relating to any action a machine takes based on a set of rules in order to mimic human intelligence.
Like AI and machine learning, predictive analysis has become a bit of an Internet buzzword in the last few years. The technology already has a wide variety of applications for marketers -- predictive advertising is just one of them. If you're among the many who are still fuzzy about what predictive analysis is, here's a rundown on how it's changing the way marketers advertise today. Predictive advertising is a marketing application of predictive analysis. Predictive analysis, by definition, is the use of consumer data, artificial intelligence and statistical algorithms to identify what could happen in the future.
Predictive advertising is yet another area of marketing that is evolving rapidly thanks to the massive strides in the strain of artificial intelligence called machine learning and wide access to large sets of digital data. In this installment of our MarTech Landscape series, we look at how predictive advertising works and how it's commonly applied. Predictive advertising is a subset of predictive analytics, also covered in our MarTech Landscape series. Predictive analytics uses machine learning to predict future outcomes based on behavioral patterns seen in historical data. Those predictions can be used for any number of purposes: understanding who is likely to pay off a loan, prioritizing leads most likely to close and so on.