Artificial Intelligence (AI – the intelligence exhibited by machines) – may seem like a futuristic concept to some, but it is already a part of our everyday lives. Video games, your bank’s fraud detection system, Netflix movie offerings, and even home thermostats are just a few of the ways AI touches us.
AI has become an important marketing tool that has the potential for cost savings, increased efficiency, and business improvement. In fact, 80 percent of marketing leaders believe AI will revolutionize marketing by 2020.
We already know successful marketing requires engaging consumers with highly personalized experiences. Ironically, many marketers are now turning to AI for relationship-building. Here are four key reasons why they are:
- Big data and analytics – The amount of data being generated from all areas of business can be mind-boggling. With this massive data trove comes the opportunity to develop actionable insights for improving business performance. This data can be too complex for humans to manage but AI is uniquely suited to analyze vast amounts of data quickly and reliably, providing marketers with the consumer insights they need.
- Personalized marketing – AI can extend audience analytics beyond demographics to understand each consumer individually, taking data and targeting to a whole new level. Pedro Domingo, author of The Master Algorithm, explains that AI works particularly well when you have 20,000 customers and want to communicate with them “as if you know them very well.” AI can help marketers communicate what consumers really care about on a personalized scale.
- AI and Emotional Intelligence – More and more, AI can interpret emotion and communication like humans. Although it is doubtful machines will ever fully understand the entire scope of human emotions, AI platforms can help identify insightful concepts and themes among vast amounts of data, and do so at incredible speed. Taylor witnessed this firsthand at the 2016 US Open with client partner IBM. An IBM Watson-powered robot on display for media and visiting clients was able to detect facial expressions and decide whether it was appropriate to give high fives to attendees. AI can understand open form content like social media, natural language, and email responses, which will enable marketers to identify key areas to focus their efforts on.
- Mobile messaging and texting – According to Gartner, within three years, approximately 30 percent of online searches will be conducted without the use of a screen and keyboard as consumer preference for mobile and voice-assisted virtual technology (e.g. Amazon’s Alexa and Google’s Assistant for Home) continues to take hold.
AI will help drive deeper customer insights, much more personalized communication, and eliminate tedious assignments for marketers. And while the question still exists whether or not AI can ever replace a human being, one thing is for certain: artificial intelligence will make marketing more invisible by seamlessly connecting brands to consumers’ lives.