Going beyond Data in Artificial Intelligence for Marketers

We have been watching or reading about Artificial intelligence from our childhood. All that seemed science fiction earlier is now available today for all data scientists to build business models. Below some of my personal thoughts on

But what does all this mean for marketers?

AI technology has two basic purposes for marketers: Data analysis, and based on the results of this analysis, task automation. But AI gets its data from devices which brings in IoT.?And by combining IoT with AI machine learning tools, brands can not only collect their own unique data , but also process them for?automated e-mail campaigns, automated?personalised?marketing, automated customised services, and much more.

For years, e-commerce marketers and advertisers have been building customer profiles of Internet users from search engine platforms, gathering them from different sources like emails, clickstream logs, mobile apps, social networks, transactions, etc. Now that is changing. According to a Merkle’s 2021 Customer Engagement Report, about?88 per cent of marketers said building first-party data was a strategic priority for them.

Advancing AI algorithms can?analyse billions of customer data and search for user patterns and trends from different streams like the web, social listening and emails. With data, a marketer can utilise AI for several tasks like product selection, budget planning, KPI tracking and realtime ad bidding, to name a few.?

AI-empowered business tools?can read and understand text. It can comprehend speech. It has ‘vision’ to recognise images and videos. It can write like a copywriter, sensing from what language they hear.?Coca-Cola, for example, uses artificial intelligence to generate logos, texts and narratives in ads automatically.?Programmatic advertising,?smart product recommendation,?predictive analytics,?chatbots are some of the use cases of AI.?AI applications?like 1) deep learning algorithm, 2)?natural language processing (NLP) and 3) image recognition?are changing how brands can identify customer habits on social media and the Internet.??

According to a 2020 study by Advertiser Perceptions,?about 32 per cent of marketing and ad professionals use AI to create ads --?digital banners, social media posts and digital out-of-home ads

The use of AI differs from region to region. In North America and Europe, “AI is mostly used for marketing effectiveness – for automation of marketing processes such as personalization, optimization or programmatic advertising. Asian marketers, on the other hand, prefer more experimental use of AI, employing for content creation.” Gulf countries,?policy environment and incentives has provided good base for AI projects. The region?is betting on AI to transform its oil-based nations into knowledge-based economies?(see note below).??

There are repeated concerns over AI making existing jobs obsolete. While there are others who believe that the machine economy will only lead to new job roles and challenges.

At present, the bunch of AI empowered tools can perform only specific tasks on command, which is broadly helping advertisers and marketers to save time and resource and focus on strategies to build customer relations, And in the automated future of the metaverse, there is little doubt that AI products will diversify to include more user experience functions to bridge the real and virtual worlds in a way that is only possible for coded machine language to do.

Thoughts and suggestions including feedback welcome on the above note !

#ArtificialIntelligence #Marketers #advertising #marketing #metaverse #shapethefuture MMA Global MMA Global APAC MMA Global Indonesia MMA Vietnam 可口可乐公司 Moneka Khurana Shanti Tolani Jessica Tam Phan Rudrashish Nag