ARTIFICIAL INTELLIGENCE IN MARKETING

Consumers are currently having strong but mixed feelings about Artificial Intelligence. The majority of general consumers are of the view that Artificial Intelligence would improve society. According to an independent global survey conducted by Arm and Northstar in 2017, 61% of customers expect that Artificial Intelligence will make the community safer or better, while 22% agree that it will make society worse or worse, reflecting favourable expectations. (Cannella, 2018)

Marketers who reported that they were interested in implementing AI soon (98 percent) are only now taking steps to do so. In 2017, just 20 percent of them introduced one or more size AI systems as a central part of their business. (Harvard Business Review, 2017)

Nowadays, AI can be accessed quickly, providing an advantage of the insights & automation options from both big and small brands. Any company that operates online can now make use of off-the-shelf machine learning tools or add publicly available algorithms to their platform. This ensures that collecting useful insights and building predictive models based on their consumer's behaviour. (Smart Insights, 2020)

AI marketing is a strategy used to exploit technology to improve consumer journey. This may also be used to boost marketing campaigns to return on investment (ROI). By using machine learning, machine learning, and other processes, insights can be gained using the target audience. One can create more effective Customer Touch Points with these insights. Whether you're engaging in email marketing or offering customer support, AI eliminates a lot of the customer interaction guesswork involved. It can be used, on a larger scale, to simplify operations that once relied on humans. Content development, PPC advertising, and even Web design are all potential AI marketing applications. More and more companies are hiring experts for their marketing departments, including data scientists and programmers. That's because their capabilities will be the backbone of most marketing campaigns soon. (Hall, 2019)

The internet is like a giant laboratory of behavioural science, but there are so many data sets that humans alone may not hope to analyze all of them. That is where AI is coming in. Using big data analysis and machine learning, AI can provide profound insights into its customers to businesses. Businesses will not only be able to hyper-personalized interactions, but I imagine they will also be able to predict future customer behaviours based on the collected data. (Hall, 2019)

Companies pour plenty of money into AI investments. As more AI use cases occur, the most and least effective ways to apply this technology to digital marketing will be discovered. In the digital marketing world, AI can streamline marketing campaigns and optimize them. It can also do away with the risk of human error. While much of the world of digital marketing is still dependent on human ingenuity, an AI program could be able to generate a report using data only. You'll even need the human touch to really connect with your customers, though. (Hall, 2019)

Empathy, compassion and storytelling are all attributes which can not be emulated by machines, at least not yet. At the end of the day, human limitations are not binding on AI. AI has the potential to curate and generate content and then place it on the right platforms, in front of the right people. Although this technology is already automating content generation at a basic level, AI could eventually develop viable topics for writers, or even generate initial content drafts based on specific parameters. (Hall, 2019)

On the competitive side, AI has the potential to help advertisers model an end-to-end approach in content. The functionality is already supported by some marketing tools. I predict that it will also be able to generate comprehensive reporting on content initiatives, involving little to no human effort. I believe that artificial intelligence will continue to change the way companies advertise, too. In fact, without a rudimentary form of AI, digital advertising strategies today would be impossible. Also, AI-based delivery systems will control electronic billboards. (Hall, 2019)

Example:
Customers create customized Nikes within 90 minutes
Nike launched a system in 2017 that allowed clients to design their own in-store sneakers. The "experience of Nike Makers" will enable customers to put sneakers on blank Nike Presto X and choose their own graphics and colours. Nike's system then displays the design on the white shoes with the aid of augmented reality and projection systems. The designs are developed and printed on the sneakers and will be available in around 90 minutes to the customer. (Nike News, 2017)


Not only did this customer engaging feature drive sales, but more importantly, it enabled the sneaker brand to collect data on customer preferences. Nike then used these data with machine learning algorithms to plan future products and to produce tailored product recommendations and marketing messages. (Nike News, 2017)

Chatbots

If there is one type of AI that companies see as a game-changer, they are chatbots. Chatbots are already available on numerous websites, as they excel in answering frequently asked questions from customers. (Hall, 2019)

The critical fascination with chatbots is their potential impact on customer experience. There aren't enough staff or hours in the day for individual companies to quickly respond to customer requests. Chatbots enable the clients to help themselves. (Hall, 2019)

BIBLIOGRAPHY:

Cannella, J. (2018). Artificial Intelligence In Marketing. [online] Available at: http://www.jamescannella.com/wp-content/uploads/2018/04/Cannella_J_Spring_2018.pdf [Accessed 24 Feb. 2020].

Harvard Business Review. (2017). A Survey of 3,000 Executives Reveals How Businesses Succeed with AI. [online] Available at: https://hbr.org/2017/08/a-survey-of-3000-executives-reveals-how-businesses-succeed-with-ai [Accessed 24 Feb. 2020].

Smart Insights. (2020). Artificial Intelligence (AI) for marketing | Smart Insights. [online] Available at: https://www.smartinsights.com/tag/artificial-intelligence-ai-for-marketing/ [Accessed 25 Feb. 2020].

Hall, J. (2019). How Artificial Intelligence Is Transforming Digital Marketing. Forbes. [online] 21 Aug. Available at: https://www.forbes.com/sites/forbesagencycouncil/2019/08/21/how-artificial-intelligence-is-transforming-digital-marketing/#3241b9e921e1 [Accessed 26 Feb. 2020].

Nike News. (2017). New Live-Design Experience Promises Custom Shoes in Less Than 90 Minutes. [online] Available at: https://news.nike.com/news/nike-makers-studio [Accessed 26 Feb. 2020].

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